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    3407 Panama City Panama City, FL 32405

    For Sale
    $2,695,000

    4.2 Acres, Hwy 77 Frontage, High Traffic

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional 4.2-acre commercial property, situated on busy Highway 77 in Panama City, Florida (zip code 32405), presents a compelling investment opportunity. Boasting 330 feet of road frontage, the property enjoys high visibility with an annual average daily traffic count of 33,065 vehicles. The site includes two existing 60' x 60' metal retail buildings, each featuring finished interior space and covered warehouse storage, along with ample parking. A driveway separates the buildings. While there's no direct median cut, access from the opposite side of the highway is readily available. A portion of the land is vacant, aside from a concrete slab where a previous storage building stood, offering significant redevelopment potential. The property is located in a flood zone A, requiring flood insurance. A perimeter ditch enhances drainage. While the address is Panama City, the property is annexed by Lynn Haven, impacting utility and tax responsibilities. The current tenants are not included in the sale. The property's size and location make it ideal for a variety of uses, including office, hotel, retail, restaurant, or multi-family development. The asking price is $2,695,000. Built in 1985, the lot encompasses 182,952 square feet. The property is zoned for commercial use.

    Property Features for 3407 Panama City

    General Information

    Property type
    Specialty properties

    Building Details

    Year Built
    1985

    HighLights

    • 4.2‑acre commercial lot in Panama City, FL (32405), on Highway 77.
    • 330' of highway frontage, 33,065 AADT.
    • Two existing 60' x 60' metal retail buildings with finished interiors, warehouse space, and ample parking.
    • Vacant land with a concrete slab, offering redevelopment potential.
    • Located in flood zone A; annexed by Lynn Haven.
    • Asking price: $2,695,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Panama City
    County
    Bay
    State
    Florida
    Longitude
    -85.648499
    Latitude
    30.209949

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    FAQs

    What type of property is this?
    Specialty property - 4.2 Acres, Hwy 77 Frontage, High Traffic
    Where is this specialty property located?
    The property is located at 3407 Panama City Panama City, FL.
    What is the asking price?
    The asking price for this property is $2,695,000.
    What are key features of this property?
    This property features: 4.2-acre commercial lot in Panama City, FL (32405), on Highway 77.; 330' of highway frontage, 33,065 AADT.; Two existing 60' x 60' metal retail buildings with finished interiors, warehouse space, and ample parking.
    Request Owner's contact information
    3407 Panama City Panama City, FL 32405
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    Panama City, FL 32405
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    Realmo Value Estimation

    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.

    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.

    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
    3407 Panama City Panama City, FL 32405
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