4838 Highway 22Panama City, FL 32404

Property Details for 4838 Highway 22

Year built

1998

Construction

WOOD

Lot size

0.86 AC

Property size (Sq ft)

688 SF

Zone code

CLWY04

Property type

Office properties

APN

24818-001-000

APU

24818001000

Description

This exceptional commercial property in Callaway, Florida, presents a unique investment opportunity. Located on busy Highway 22, the property boasts a total of 975 square feet spread across two separate buildings situated on a sizable 37,461.6 square foot lot (APN: 24818-001-000). Each building features a one-bedroom, one-bathroom layout, previously used as a retail auto store and a produce market, respectively. A shared garage at the rear of both buildings offers additional storage or workspace, ideal for automotive repair or other uses. Built in 1998, this property is priced at $274,900, translating to $256.41 per square foot. The property's high-traffic location on Highway 22 in the Parker area ensures excellent visibility and accessibility for any business. This is a rare chance to acquire a versatile commercial parcel with significant potential in a thriving location. The address is 4838 Hwy 22, Callaway, FL 32404. Directions: Follow Hwy 231 South to Star Ave, turn left, continue south to Hwy 22, turn right, and the property will be at 4838 Hwy 22.

• CAP approach

  CAP return

  Valuation

  6%

  $125,888

  6.5%

  $116,204

  7%

  $107,904

• Comparable approach

  Method

  Valuation

  Relative Method

  $48,910

  Geo Method

  $48,910

• Alternative Use

  Use

  Valuation

  Residential

  $144,093

  Hospitality

  $131,989

  Educational

  $109,813

  Medical

  $113,590

  Retail

  $170,820

Location Insight

City

Panama City

County

Bay

State

Florida

Latitude

30.1527

Longitude

-85.6006

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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