Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6902 Highway 2301 Panama City, FL 32404

    • Commercial real estate
    For Sale
    View listing
    $250,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3444955
    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.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 6902 Highway 2301

    Property type
    Commercial real estate

    Description

    This exceptional 4.6-acre property, located at 6902 Highway 2301 in Panama City, Florida (zip code 32404), presents a remarkable investment opportunity. Boasting an impressive 200,376 square feet of land and approximately 335 feet of highway frontage, this site offers unparalleled visibility and accessibility. Currently zoned for mobile homes and townhomes, the property holds significant potential for redevelopment. Bay County has indicated a willingness to consider rezoning requests for Neighborhood Commercial use, making it ideal for a variety of commercial ventures. The property's strategic location benefits from exceptionally high traffic volume. A 2022 Florida Department of Transportation (FDOT) traffic count recorded over 8,000 vehicles daily, a number likely significantly increased due to recent area growth. This prime location, coupled with its size and rezoning potential, makes this an exceptional opportunity for investors seeking high-impact commercial development in a thriving market. The asking price for this unique property is $399,700.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Bay
    State
    Florida
    Longitude
    -85.5392333
    Latitude
    30.2739629

    Comparable in this City

    • $1,500,000
      1.02 Acres

      Marina on Bay Vacant Land

      Vacant land with a 26-slip deep water marina.
      6345 Highway 98 E, Panama City, FL 32404
      View Details
    • $720,000
      4,004 SF

      Prime Panama City Daycare Investment

      Fully Leased, 4,004 SF, High Returns
      5311 Highway 22, Panama City, FL 32404
      View Details
    • $280,000

      Prime Panama City Commercial Land

      64,904 SF Bayside Commercial Lot
      000 Poston Rd, Panama City, FL 32404
      View Details
    • $240,000

      Panama City Waterfront Lot

      Build Your Dream Home on the Bay!
      909 Anchor Ct, Panama City, FL 32404
      View Details
    • $45,000
      0.72 Acres

      Residential Lot in Gated Airpark

      Residential lot in a gated airpark community with runway access.
      13340 Airway St, Panama City, FL 32404
      View Details
    • $43,000
      0.65 Acres

      Residential Airpark Land For Sale

      Gated residential airpark lot with taxiway access and runway.
      Park Way St, Panama City, FL 32404
      View Details

    Similar Nearby for Sale

    • $1,500,000
      1.02 Acres

      Marina on Bay Vacant Land

      Vacant land with a 26-slip deep water marina.
      6345 Highway 98 E, Panama City, FL 32404
      View Details
    • $720,000
      4,004 SF

      Prime Panama City Daycare Investment

      Fully Leased, 4,004 SF, High Returns
      5311 Highway 22, Panama City, FL 32404
      View Details
    • $280,000

      Prime Panama City Commercial Land

      64,904 SF Bayside Commercial Lot
      000 Poston Rd, Panama City, FL 32404
      View Details
    • $240,000

      Panama City Waterfront Lot

      Build Your Dream Home on the Bay!
      909 Anchor Ct, Panama City, FL 32404
      View Details
    • $45,000
      0.72 Acres

      Residential Lot in Gated Airpark

      Residential lot in a gated airpark community with runway access.
      13340 Airway St, Panama City, FL 32404
      View Details
    • $43,000
      0.65 Acres

      Residential Airpark Land For Sale

      Gated residential airpark lot with taxiway access and runway.
      Park Way St, Panama City, FL 32404
      View Details

    Similar Nearby for Lease

    • $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
    • $16 SF/Yr
      4,004 SF

      Renovated Commercial Building Near Tyndall AFB

      Versatile 4,004 SF building suitable for daycare or professional uses.
      5311 Highway 22 E, Panama City, FL 32404
      View Details
    • $2,400,000
      20,000 SF

      Versatile Panama City Office Asset

      20,000 SF office building with flexible floorplate and ample parking.
      230 N Tyndall Pkwy, Panama City, FL 32404
      View Details
    • $15 SF/Yr
      1,500 SF

      Star Avenue Warehouse Space

      1500 sq ft Industrial Warehouse
      271 Star Ave, Panama City, FL 32404
      View Details
    • $19 SF/Yr
      2,500 SF

      Retail Space with Drive-Thru

      Retail space with drive-thru, high visibility, and improvement allowance.
      133 S Tyndall Pkwy, Panama City, FL 32404
      View Details
    • Contact for pricing
      13,200 SF

      Prime Warehouse Pre-Leasing Opportunity

      Warehouse space available near major distribution center and retail.
      4335 Highway 231 N, 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.
    6902 Highway 2301
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.