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    501 Brit Pond Rd Southport, FL 32409
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    501 Brit Pond Rd, Southport, FL 32409

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    • Commercial land
    • 3.53 lot acres
    For Sale
    $475,000
    View Listing →
    Southport Commercial Land - $475,000 For Sale
    $475,000

    Southport Commercial Land - $475,000

    High-traffic commercial lot, near Hwy 77 & 20.

    Panama City, FL 32409
    View Listing
    Property ID
    US18-7500768
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 501 Brit Pond Rd

    Lot size
    3.53 lot acres
    Zone code
    BC16
    Property type
    Commercial land
    APN
    26436-015-120
    APU
    26436015120

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 19, 2024 $325,000 Tammy D Cherry Jeffrey L Wright Warranty Deed $175k · Jeffrey Wright
    Nov 23, 2022 $195,000 Jeffery L Wright Pine Ridge Lake Holdings INC Warranty Deed —
    Jul 9, 2008 $162,500 Pine Ridge Lake Properties INC Price,larry K & Delene M Warranty Deed —

    Description

    This exceptional 174,240 sq ft commercial lot in Southport, Florida (32409), is ideally situated near the intersection of Highway 77 North and Highway 20, boasting high daily traffic counts and excellent visibility. The property offers highway frontage and picturesque lake views. Zoned commercial, it presents a multitude of development opportunities, including convenience stores, gas stations, storage facilities, RV parking, car washes, grocery stores, apartments, or residential homes. Its proximity to Dean Bozeman High School and other amenities adds to its appeal. The seller is willing to divide the property into parcels of approximately 2 acres, each priced at $475,000. Owner financing may be available. The property connects to Brit Pond, offering additional recreational potential. Buyers are advised to independently verify zoning and property dimensions with Bay County. This is a prime opportunity for investors seeking high-growth potential in a booming area. The asking price for the entire 174,240 sq ft parcel is $885,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Southport
    County
    Bay
    State
    Florida
    Longitude
    -85.6907
    Latitude
    30.3977
    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
    $1,105
    $88,250
    $0.00
    $88,250
    -
    $88,250
    $0.00
    $88,250

    Comparable in this City

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      301 Hwy 20, Southport, FL 32409
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      0.03 Acres

      8019 Hwy 77

      VACANT COMMERCIAL LAND
      8019 Hwy 77, Southport, FL 32409-2675
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      1.61 Acres

      15335 Hwy 77

      VACANT COMMERCIAL LAND
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      VACANT COMMERCIAL LAND
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    Similar Nearby for Lease

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      Southport Commercial Property on Highway

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      Versatile commercial property featuring office space and warehouse.
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      Southport Commercial Office and Warehouse

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      Warehouse with Office Space Available

      Versatile commercial property with warehouse and office space for lease.
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      Highway 77 Commercial Opportunity

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    View Listing
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    501 Brit Pond Rd
    Southport, FL 32409
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    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.

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