6320 Highway 77Panama City, FL 32409

Property Details for 6320 Highway 77

Year built

1957

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.45 AC

Property size (Sq ft)

2,200 SF

Zone code

BC05

Property type

Retail properties

Property subtype

Retail space

APN

08506-000-000

APU

8506000000

Description

This exceptional 2,200 square foot office building in Panama City, Florida, presents a unique investment opportunity. Completely renovated in 2023, the property boasts a brand new HVAC system, roof, flooring, and interior finishes, ready for immediate occupancy. The building, classified as Class B, is situated on a substantial 108,900 square foot lot (over 2.5 acres), offering significant potential for expansion or additional development. Its single-story design provides convenient access and functionality. The property features over 500 feet of frontage on Highway 77, ensuring high visibility and accessibility for clients and customers. Built in 1957, this completely modernized space is perfect for a variety of uses, from retail to office space. The lease type is NNN, and the property is currently vacant, allowing for immediate customization to suit a new tenant's specific needs. The ample lot size provides the rare opportunity for a lay-down yard or additional retail space, making this a truly versatile and attractive investment. The asking price is $900,000. This property offers a compelling combination of renovated space, prime location, and significant land area, presenting a strong return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $591,599

  6.5%

  $546,091

  7%

  $507,085

• Comparable approach

  Method

  Valuation

  Relative Method

  $394,123

  Geo Method

  $394,123

• Alternative Use

  Use

  Valuation

  Residential

  $460,648

  Hospitality

  $421,951

  Educational

  $351,059

  Medical

  $363,132

  Retail

  $546,091

Location Insight

City

Southport

County

Bay

State

Florida

Latitude

30.2685

Longitude

-85.6421

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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