Commercial Parcel on Busy
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4838 Hwy 22, Callaway, FL 32404
Two buildings on a commercial parcel located on Highway 22.
Property Size975 SF
Price / SF$281.95
Days on Market1231
Property Features for 4838 Hwy 22
General Information
Standard status
Active
Size
975 SF
Property subtype
Retail
Building Details
Year Built
1998
Listing Agency:
Century 21 Ryan Realty
(850) 532-8414
Listed By:
Lance Rhea · License #3206704
Source:
Crexi
Added: Apr 15, 2023
Changed: Aug 21
Last Checked: Aug 26 at 12:00AM
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 Century 21 Ryan Realty
Investment Insights
Based on property information with market context.
Located on a busy section of Highway 22, this commercial parcel features two separate buildings. One building is a one-bedroom, one-bath mobile home that has been used as a retail auto store. The other building is also a one-bedroom, one-bath structure that has been utilized as a produce market. Both buildings have a garage at the back, which can be used for car repairs or storage. This property is located in Parker, Florida.
Key Highlights
- Prime commercial location on busy Highway 22 in Parker, FL.
- Two separate buildings on the property offer versatile usage options.
- One building previously used as a retail auto store.
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
$12,267
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
4.46%
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%
$245,340
$245.3K
Cap Rate 7%
$175,243
$175.2K
Cap Rate 9%
$136,300
$136.3K
Market Conditions
NOI Build-Up for 975 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
$17.6K $18.00/SF
− Vacancy
−$1.2K −$1.22/SF
EGI
$16.4K $16.78/SF
− OpEx
−$4.1K −$4.19/SF
NOI
$12.3K $12.58/SF
Area
Bay County, FL
Vacancy
6.80%
Lease Rate
$18.00 /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%
$245,340
Cap Rate 7%
$175,243
Cap Rate 9%
$136,300
Alternative Uses
Best Use
Specialty Retail
$175.2K
$153.3K – $204.5K
NOI $12,267 @ 7.0% cap · market cap 4.46%
Second Best
Retail
$152.5K
$133.5K – $177.9K
NOI $10,676 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$284.1K
$248.6K – $331.4K
NOI $19,886 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32404, FL
38,186
Population
18,053
Households
2.1
Avg Household Size
40
Median Age
21%
College-Educated
87%
High-School Grad
135.1 sq mi
ZIP Area
283
Density / Sq Mi
$72,208
Median Household Income
$38,701
Median Earnings
$1,355
Median Rent
$239,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Two buildings on a commercial parcel located on Highway 22.
Where is this auto shop located?
The property is located at 4838 Hwy 22 Callaway, FL.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: Prime commercial location on busy Highway 22 in Parker, FL.; Two separate buildings on the property offer versatile usage options.; One building previously used as a retail auto store.
