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    3.5 Acre Waterfront Development Opportunity Title is generated by Realmo AI

    4402 HIGHWAY 2321, Panama City, FL 32404

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    For Sale
    $350,000

    3.5-acre commercial waterfront land for development on North Bay.

    Type:Commercial
    Property size:
    2,219 SF
    Lot size:
    3.50 Acres
    Price / SF:
    $157/SF
    Added:
    Jan 7, 2019
    Days on Market:
    2710
    Last Refresh:
    May 11 at 12:51 am

    Property Features for 4402 HIGHWAY 2321

    General Information

    Standard status
    Active
    Size
    2,219 SF
    Lot size
    3.50 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1965

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    Listing Contact
    CHARLIE B HAAS

    Listing agent CHARLIE B HAAS License #3021473

    Listing office COUNTS REAL ESTATE GROUP

    Listing date Jan 7, 2019

    Source Corcoran

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of COUNTS REAL ESTATE GROUP

    HighLights

    • Prime 3.5 acre commercial waterfront development opportunity
    • Located on North Bay at the foot of Deer Point Dam
    • Part of a larger 76.6 acre parcel (Bay County Parcel Number 08671‑000‑000)
    • Currently houses a Bait Shop
    • Additional waterfront and interior land parcels available (0.84 acres to 130 acres)
    • Located along the Highway 2321 corridor

    Overview

    This is an excellent 3.5-acre commercial waterfront development opportunity located on North Bay at the foot of the Deer Point Dam. The site, noted as Site 2A on the property aerial, is part of a fragmented parcel consisting of 76.6 acres. Currently, a Bait Shop is located on the site, which is to be carved out of the current parcel; the exact size and dimensions are to be determined. The property is zoned Agriculture/Timberland (AG-2) in Unincorporated Bay County. Rezoning and access to municipal water and sewer would require annexation into the City of Lynn Haven. Additional vacant waterfront and interior land parcels are available, ranging in size from 0.84 acres to 130 acres along the Highway 2321 corridor in the Deer Point Lake and North Bay area.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $39.9k $18.00
    − Vacancy −$3.4k −$1.53
    EGI $36.5k $16.47
    − OpEx −$11.0k −$4.94
    NOI $25.6k $11.53
    2,219 SF · lease $18.00/SF/yr · vacancy 8.50% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $365.5K
    $319.8K – $426.4K (±1% cap)
    NOI $25,583 @ 7.0% cap · market cap 7.31%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $558.0K
    $488.3K – $651.1K (±1% cap)
    NOI $39,063 @ 7.0% cap · market cap 11.16%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Department Store Food Market HVAC Service Grocery & Convenience Store Electrical Service Cafe & Coffee Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Walton
    State
    Florida
    Longitude
    -85.5994
    Latitude
    30.2642

    FAQs

    What type of property is this?
    Waterfront Land - 3.5-acre commercial waterfront land for development on North Bay.
    Where is this waterfront land located?
    The property is located at 4402 HIGHWAY 2321 Panama City, FL.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: Prime 3.5 acre commercial waterfront development opportunity; Located on North Bay at the foot of Deer Point Dam; Part of a larger 76.6 acre parcel (Bay County Parcel Number 08671‑000‑000)
    More about this property
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