3407 Fl-77 Panama City, FL 32405

Property Details for 3407 Fl-77

Year built

1985

Lot size

4.20 lot acres

Property size

7,200 SF

Property type

Specialty properties

Property subtype

Retail properties

Description

This exceptional 4.2-acre commercial property, located at 3407 FL-77 in Panama City, Florida (zip code 32405), presents a remarkable investment opportunity. Boasting 330 feet of road frontage on busy Highway 77, this site enjoys an annual average daily traffic count of 33,065 vehicles, ensuring high visibility and accessibility. The property includes two existing 60' x 60' metal retail buildings, each featuring finished interior space and covered warehouse storage, along with ample on-site parking. While currently housing two businesses (one month-to-month), the property is vacant for immediate redevelopment. A previous storage building's cement slab remains on the vacant rear portion of the lot. The property is zoned commercial and situated in a flood zone A, requiring flood insurance. Utilities and taxes are handled through Lynn Haven, despite the Panama City address. A perimeter ditch aids in rainwater management. The property's strategic location near Tyndall Air Force Base, undergoing significant expansion, and the area's post-Hurricane Michael recovery and growth, creates exceptional potential for redevelopment into various uses, including office, hotel, restaurant, retail, or multi-family housing. The asking price is $2,695,000, with a total square footage of 7,200 and a price per square foot of $374.31. The property was built in 1985 and offers significant potential for investors seeking to capitalize on the area's dynamic growth. The City of Lynn Haven may offer development incentives.

Location Insight

City

Panama City

County

Bay

State

Florida

Longitude

-85.6495

Latitude

30.2099