Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    886 Coastal Highway Panacea, FL 32346

    View on Map
    Claim this Listing
    For Sale
    $300,000

    COMMERCIAL - Panacea, FL

    Property size:
    1,200 SF
    Lot size:
    16.88 Acres
    Price / SF:
    $250/SF
    Added:
    Apr 9, 2026
    Days on Market:
    30
    Last Refresh:
    May 8 at 11:06 am

    Property Features for 886 Coastal Highway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    12129-36-5S-02W-000-03564-003
    Size
    1,200 SF
    Lot size
    16.88 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2125

    We can help!

    Listing Contact
    Michael Lee

    Listing agent Michael Lee License #3196048

    Listing office Flamingo Realty of Tallahassee 4895 Planters Ridge Dr, FL

    Listing date Apr 9, 2026

    MLS# 398389

    Copyright © 2026 Tallahassee Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High‑visibility commercial parcel on US‑98/Coastal Highway in a growth corridor.
    • I1 zoning allows for redevelopment, expansion, or adaptive commercial use.
    • Opportunity to acquire adjacent RSU zoned parcels totaling 60.88 acres.
    • Existing 1,200 sq. ft. structure in place.
    • Strong appreciation of comparable I1 properties along Coastal Hwy.
    • Immediate access and excellent traffic exposure.

    Overview

    Panacea Commercial Land on US-98

    This 16.88-acre commercial property is located on US-98/Coastal Highway in Panacea, Florida. Zoned I1, the site includes a 1,200 sq. ft. structure and is suitable for redevelopment, expansion, or adaptive commercial use. The property offers immediate access and traffic exposure. Three adjacent parcels zoned RSU are available, which would make the total 60.88 acres. The property's size and zoning flexibility provide a path to maximize ROI. This property presents an opportunity to capitalize on Wakulla County's commercial growth.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Spa & Massage Center Auto Repair Shop Big Box & Wholesale Store Hair Salon Nail Salon Hotel & Motel Food Market Discount Store Furniture & Home Goods

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

    Location Insight

    • Map
    • Local Demand
    City
    Panacea
    County
    Wakulla
    State
    Florida
    Longitude
    -84.392268
    Latitude
    30.017492

    Nearby Similar for Sale

    • $284,900
      1,788 SF

      Panacea Commercial Property with Bay View

      Commercial property in Panacea, FL, with highway frontage and upgrades.
      1629 Coastal Hwy, Panacea, FL 32346
      View Details
    • $375,000
      1,200 SF

      Commercial Storefront with Studio Apartment

      Commercial storefront with studio apartment on Highway 98.
      82 Coastal Highway, Panacea, FL 32346
      View Details
    • $30,000

      Prime Commercial Lots on Highway

      Two commercial lots in Panacea, FL, on high-traffic Highway 98.
      Coastal Highway lot: 4 & 5, Panacea, FL 32346
      View Details
    • $30,000

      Panacea, FL Commercial Land

      Two commercial lots in Panacea, FL, on high-traffic Highway 98.
      Coastal Highway lot: 4 & 5, Panacea, FL 32346
      View Details
    • $27,500

      Waterfront Land in Gated Community

      Premier lots in a gated community near Ochlockonee Bay.
      Surf Rd lot: 78, Panacea, FL 32346
      View Details
    • $425,000

      Waterfront Lot in Panacea, FL

      Vacant bay front lot ready for your dream waterfront home.
      Sunrise Lane, Panacea, FL 32346
      View Details
    • $49,500

      Waterfront Land in Gated Community

      Premier lots in a gated community near Ochlockonee Bay.
      Surf Rd lot: 20, Panacea, FL 32346
      View Details
    • $49,000

      Waterfront Land in Panacea, FL

      Partially cleared 0.37 acre lot across from Ochlockonee Bay.
      River Drive lot: 11, Panacea, FL 32346
      View Details
    • $249,900

      Ochlockonee Bay Waterfront Lot

      Deep water bayfront lot with unspoiled views and great fishing.
      Surf Road, Panacea, FL 32346
      View Details
    • $185,000

      Waterfront Land in Panacea, Florida

      0.65-acre waterfront lot with direct water access and utilities.
      Chattahoochee Street lot: 1 & 2, Panacea, FL 32346
      View Details
    • $349,000

      Prime Land in Coastal Panacea

      Versatile land with highway frontage, ideal for development.
      Division Street, Panacea, FL 32346
      View Details
    • $35,500

      Bay-View Lot in Gated Community

      Coastal lot with amenities in Tradewinds community, Panacea, Florida.
      Endeavour Drive, Panacea, FL 32346
      View Details

    FAQs

    What type of property is this?
    Commercial land - High-visibility commercial parcel in a growth corridor on US-98.
    Where is this commercial land located?
    The property is located at 886 Coastal Highway Panacea, FL.
    What is the asking price?
    The asking price for this property is $300,000.
    What are key features of this property?
    This property features: High‑visibility commercial parcel on US‑98/Coastal Highway in a growth corridor.; I1 zoning allows for redevelopment, expansion, or adaptive commercial use.; Opportunity to acquire adjacent RSU zoned parcels totaling 60.88 acres.
    (850) 339-9346
    We can help!
    Listing Contact
    Michael Lee
    Real Estate License ID: 3196048
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    886 Coastal Highway, Panacea, FL 32346
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!