Medical Office
New
For Sale
$400,000
4740 Highway 389, Lynn Haven, FL 32444
Medical office property along Highway 389 with access to nearby communities, Panama City, and Tyndall Air Force Base.
Property Size2,180 SF
Price / SF$183.49
Days on Market4
Property Features for 4740 Highway 389
General Information
Standard status
Active
Size
2,180 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Building Details
Year Built
1980
Listing Agency:
FIVE BRIDGES REAL ESTATE SERVICES CO. LLC
(850) 913-9133
Listed By:
ANNA N BRANCH
(850) 960-3418
Source:
Corcoran
Added: Sep 18
Changed: Sep 20
Last Checked: Sep 20 at 2:41PM
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 FIVE BRIDGES REAL ESTATE SERVICES CO. LLC
Investment Insights
Based on property information with market context.
This medical office property at 4740 Highway 389 in Lynn Haven contains 2,180 square feet and was built in 1980. Its setting along East Avenue supports professional office and medical-oriented use within an established corridor serving the surrounding community.
The property is minutes from Highway 77 and downtown Lynn Haven, with access to Panama City, Tyndall Air Force Base, and nearby residential areas. Publix, Walmart Neighborhood Market, and Bay Haven Charter Academy are also in the surrounding area, adding established destinations and daily activity near the site.
The property is minutes from Highway 77 and downtown Lynn Haven, with access to Panama City, Tyndall Air Force Base, and nearby residential areas. Publix, Walmart Neighborhood Market, and Bay Haven Charter Academy are also in the surrounding area, adding established destinations and daily activity near the site.
Key Highlights
- 2,180‑square‑foot medical office property
- Built in 1980
- Located at 4740 Highway 389 in Lynn Haven
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$36,655
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.16%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$733,100
$733.1K
Cap Rate 7%
$523,643
$523.6K
Cap Rate 9%
$407,278
$407.3K
Market Conditions
NOI Build-Up for 2,180 SF
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.
Gross rent
$61.5K $28.20/SF
− Vacancy
−$12.6K −$5.78/SF
EGI
$48.9K $22.42/SF
− OpEx
−$12.2K −$5.60/SF
NOI
$36.7K $16.81/SF
Area
Bay County, FL
Vacancy
20.50%
Lease Rate
$28.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$733,100
Cap Rate 7%
$523,643
Cap Rate 9%
$407,278
Alternative Uses
Best Use
Office B
$523.6K
$458.2K – $610.9K
NOI $36,655 @ 7.0% cap · market cap 9.16%
Second Best
Healthcare Medical
$435.5K
$381.1K – $508.1K
NOI $30,484 @ 7.0% cap · market cap 7.62%
Theoretical Best
Office A
$635.2K
$555.8K – $741.0K
NOI $44,462 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
182
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32444, FL
19,913
Population
8,632
Households
2.3
Avg Household Size
41
Median Age
32%
College-Educated
92%
High-School Grad
9.8 sq mi
ZIP Area
2,032
Density / Sq Mi
$89,508
Median Household Income
$42,348
Median Earnings
$1,494
Median Rent
$292,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- North Bay Animal Hospital Inc — 4740 County Rd 389, Lynn Haven, FL 32444
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office property along Highway 389 with access to nearby communities, Panama City, and Tyndall Air Force Base.
Where is this medical office space located?
The property is located at 4740 Highway 389 Lynn Haven, FL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 2,180‑square‑foot medical office property; Built in 1980; Located at 4740 Highway 389 in Lynn Haven
