Prime Highway 77 Commercial
For Sale
Contact for pricing
3407 Hwy 77 Panama City, Panama City, FL 32405
4.2-acre commercial property on Hwy 77 with redevelopment potential.
Property Size7,200 SF
Lot Size4.20 Acres
Price / SF$346.53
Days on Market1565
Property Features for 3407 Hwy 77 Panama City
General Information
Standard status
Active
Size
7,200 SF
Lot size
4.20 Acres
Property subtype
Land
Building Details
Year Built
1985
Listing Agency:
Keller Williams Success Realty
Listed By:
Christine Lance · License #FL CQ 1025030
(850) 258-2544
Source:
Crexi
Added: Jun 30, 2022
Changed: Oct 9
Last Checked: Oct 11 at 3:14AM
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 Keller Williams Success Realty
Investment Insights
Based on property information with market context.
This 4.2-acre property is located on busy Hwy 77 in Panama City, featuring 330 feet of road frontage and ingress/egress at two locations. The annual average daily traffic count is 30,098 vehicles. The property includes two 60' x 60' metal retail buildings with finished interior space and covered warehouse storage. Parking is available at each building, with a driveway between them. The back portion of the property is vacant land, except for a cement slab where a storage building was previously located. The property has a Panama City address but is annexed by the city of Lynn Haven, so utilities and taxes are managed through Lynn Haven. The location offers potential for redevelopment as office, hotel, retail, restaurant, or multi-family use. There is no direct cut in the median at this location, but a cut is nearby, facilitating turns from the opposite side of the road.
Key Highlights
- High‑traffic location on Hwy 77 with 330' of road frontage and an average daily traffic count of 30,098 vehicles.
- 4.2 acre property suitable for redevelopment as Office, Hotel, Retail, Restaurant, Multi‑Family, etc.
- Two 60' x 60' metal retail buildings with finished interior space and covered warehouse storage.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,839
Cap Rate
3.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,576,780
$1.6M
Cap Rate 7%
$1,126,271
$1.1M
Cap Rate 9%
$875,989
$876.0K
Market Conditions
NOI Build-Up for 7,200 SF
Gross rent
$122.7K $17.04/SF
− Vacancy
−$10.1K −$1.40/SF
EGI
$112.6K $15.64/SF
− OpEx
−$33.8K −$4.69/SF
NOI
$78.8K $10.95/SF
Area
Bay County, FL
Vacancy
8.20%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,576,780
Cap Rate 7%
$1,126,271
Cap Rate 9%
$875,989
Alternative Uses
Best Use
Retail
$1.13M
$985.5K – $1.31M
NOI $78,839 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.10M
$1.84M – $2.45M
NOI $146,848 @ 7.0% cap · market cap 5.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
288
Businesses Nearby
18k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 75%
Shops & Services 25%
Hardee's
Dining
7,506 visits/mo
0.2 miles
Checkers
Dining
5,723 visits/mo
0.4 miles
Carquest Auto Parts - Flynn Auto Parts
Shops & Services
1,854 visits/mo
0.4 miles
FedEx Office Print & Ship Center
Shops & Services
1,397 visits/mo
0.1 miles
Capital City Bank
Shops & Services
686 visits/mo
0.2 miles
Demographics for 32405, FL
28,158
Population
13,585
Households
2.1
Avg Household Size
40
Median Age
29%
College-Educated
92%
High-School Grad
18.8 sq mi
ZIP Area
1,498
Density / Sq Mi
$71,002
Median Household Income
$41,867
Median Earnings
$1,418
Median Rent
$255,100
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?
Retail space - 4.2-acre commercial property on Hwy 77 with redevelopment potential.
Where is this retail space located?
The property is located at 3407 Hwy 77 Panama City Panama City, FL.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: High‑traffic location on Hwy 77 with 330' of road frontage and an average daily traffic count of 30,098 vehicles.; 4.2 acre property suitable for redevelopment as Office, Hotel, Retail, Restaurant, Multi‑Family, etc.; Two 60' x 60' metal retail buildings with finished interior space and covered warehouse storage.
