Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    114 Highway 22 A Panama City, FL 32404
    Back to Search
    Property profile & analytics

    114 Highway 22 A Panama City, FL 32404

    View on Map
    • Apartment buildings
    • 13,768 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 114 Highway 22 A

    Year built
    1984
    Property size
    13,768 SF
    Property type
    Apartment buildings
    Property subtype
    Small apartment buildings

    Description

    This exceptional 14-unit apartment complex, located at 114 S Highway 22 A in Panama City, Florida (zip code 32404), presents a lucrative investment opportunity. The property boasts a total of 13,768 square feet situated on a generous 28,314 square foot lot. Constructed in 1984, the complex comprises four separate buildings, each featuring two-bedroom, one-and-a-half-bathroom units. Unit sizes range from 750 to 950 square feet. Larger units (950 sq ft) include in-unit laundry, while smaller units (750 sq ft) offer laundry hookups in attached storage. Many units have undergone renovations and roof repairs following Hurricane Michael, ensuring excellent condition. Currently operating at 100% occupancy, this complex offers immediate cash flow. Its prime location in the heart of Panama City, near shopping, dining, and Tyndall Air Force Base, guarantees strong tenant demand and long-term stability. The asking price for this fully operational apartment business is $2,200,000. This is a rare chance to acquire a well-maintained, high-performing multifamily property in a desirable Florida location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Bay
    State
    Florida
    Longitude
    -85.5998
    Latitude
    30.1449

    Comparable in this City

    • Value Estimation by Request

      1000 Transmitter Rd

      Multifamily properties
      1000 Transmitter Rd, Panama City, FL 32404
      View Details
    • Value Estimation by Request
      60.12 Acres

      11740 Poston Rd

      Land • 60.12 Acres
      11740 Poston Rd, Panama City, FL 32404
      View Details
    • Value Estimation by Request

      00 Hwy 2297 & Hwy

      Land
      00 Hwy 2297 & Hwy, Panama City, FL 32404
      View Details
    • Value Estimation by Request
      167.00 Acres

      Allanton Rd

      Farms • 167.00 Acres
      0 Allanton Rd, Panama City, FL 32404
      View Details
    • Value Estimation by Request
      257.00 Acres

      1025 Highway 2297

      Land • 257.00 Acres
      1025 Highway 2297, Panama City, FL 32404
      View Details
    • Value Estimation by Request
      26.84 Acres

      Fl-22

      Land • 26.84 Acres
      0 Fl-22, Panama City, FL 32404
      View Details

    Similar Nearby for Sale

    • $1,099,500
      6,750 SF

      New Construction Townhome Investment Opportunity

      Five-unit townhome building near Tyndall Air Force Base.
      6720-6728 Cherry St, Panama City, FL 32404
      View Details
    • $1,099,500
      6,750 SF

      New Construction Townhome Investment Opportunity

      Five-unit townhome building near Tyndall Air Force Base.
      6710-6718 Cherry St, Panama City, FL 32404
      View Details
    • New
      $1,099,500
      Pending

      New Construction Townhome Investment Opportunity

      Five-unit townhome near Tyndall Air Force Base.
      6720-6728 Cherry St, Panama City, FL 32404
      View Details
    • Contact for pricing
      12,096 SF

      Panama City Garden Style Apartments

      16-unit apartment building near Tyndall Air Force Base.
      5820 Hickory St, Panama City, FL 32404
      View Details
    • $1,099,500
      Pending

      New Construction Townhome Investment Opportunity

      Five-unit townhome building near Tyndall Air Force Base.
      6710-6718 Cherry St, Panama City, FL 32404
      View Details
    • $515,999
      4,108 SF

      Multifamily Portfolio Opportunity

      Incredible portfolio with multiple income streams and strong rental potential.
      708 Highway 22 A, Panama City, FL 32404
      View Details

    Similar Nearby for Lease

    • $3,500 /Mo
      1,800 SF

      Unique Mixed-Use Property For Rent

      Custom property with modern amenities, suitable for commercial or residential use.
      5045 Highway 98 E, Panama City, FL 32404
      View Details
    • $8 SF/Yr
      21,184 SF

      Panama City Commercial Space

      21,184 sq ft, Mixed-Use Potential
      5420 Hickory St, Panama City, FL 32404
      View Details
    • Contact for pricing

      Panama City Industrial Warehouse Space

      18,000 SF industrial warehouse with office and laydown yard.
      2325 Transmitter Rd, Panama City, FL 32404
      View Details
    • Contact for pricing

      Class B Office Building

      16,000 SF office building for sale or lease.
      210 North Tyndall Pkwy, Panama City, FL 32404
      View Details
    • $94,000

      Tyndall Pkwy Commercial Land Lease

      Cleared commercial land for lease on Tyndall Pkwy.
      1436 David Ave, Panama City, FL 32404
      View Details
    • $5,500 /Mo
      4,004 SF

      Renovated Office Space on Highway

      Modernized 4,004 SF building near Tyndall Air Force Base.
      5311 Highway 22 E, Panama City, FL 32404
      View Details
    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.
    114 Highway 22 A
    Panama City, FL 32404
    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
    114 Highway 22 A, Panama City, FL, 32404
    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!