1402 Ohio Ave Lynn Haven, FL 32444-3743
Property profile & analytics
1402 Ohio Ave Lynn Haven, FL 32444-3743
- Retail space
- 15,467 SF
- 2.07 lot acres
Property ID
US18-4865575
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Walgreens / Pharmacy
- Maria Gina Cruz, RPh / Pharmacy
- FedEx OnSite / Postal Service / Courier Service
- Walgreens Photo / (Bike/Boat/Book/etc) Store
- Jerrett C. Pigott, Pharm / Pharmacy
Property Details for 1402 Ohio Ave
- Year built
- 1999
- Construction
- STEEL FRAME
- Lot size
- 2.07 lot acres
- Property size
- 15,467 SF
- Property type
- Retail space
- APN
- 10224-000-000
- APU
- 10224000000
Description
This exceptional investment opportunity presents a 13,761-square-foot Walgreens located at 1402 Ohio Ave, Lynn Haven, FL 32444. The property boasts a strong 6.00% cap rate and a substantial net operating income (NOI) of $337,824. Secured by a long-term, absolute NNN lease with Walgreens, the lease extends to September 25, 2038, offering a remaining term of 13.9 years. The lease includes favorable 5% rent bumps every five years, with the next increase scheduled for September 2028, and twelve 5-year renewal options. Situated on a 1.87-acre lot, the building was constructed in 1999 and enjoys 100% occupancy. This prime location at a signalized intersection of State Hwy 77 (33,000 VPD) and W 14th St (19,500 VPD) benefits from high daily traffic counts and proximity to major retailers like Walmart, Publix, and Aldi. The surrounding area demonstrates strong demographics, with over 62,000 residents within a five-mile radius and a projected 7% population growth over the next five years. The average household income within three miles is $111,393. This is a truly exceptional opportunity to acquire a high-performing, low-maintenance investment property in a thriving Florida market. The property's strong tenant, long lease term, and built-in rent escalations provide a secure and attractive investment profile. This offering presents a rare chance to capitalize on the stability and growth potential of a Walgreens investment in a prime location.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $4,200,000
- ML approach
- $4,250,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,651,000
Market price range: $928k - $3.43M -
Alternative Use
- Use
- Estimation
- AUTO REPAIR, GARAGE
- $7,325,000
- RESTAURANT
- $3,960,000
- OFFICE BUILDING
- $3,095,000
- COMMERCIAL (GENERAL)
- $2,670,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Lynn Haven
- County
- Bay
- State
- Florida
- Longitude
- -85.6493
- Latitude
- 30.2371
- CBSA code
- 37460
- CBSA name
- PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$21,862
$607,404
$717,469
$1,324,873
-
$607,404
$717,469
$1,324,873
