6345 Highway 98Panama City, FL 32404

Property Details for 6345 Highway 98

Year built

2022

Construction

WOOD

Lot size

16.18 AC

Property size (Sq ft)

5,822 SF

Property type

Office properties

Property subtype

Other office properties

APN

26217-000-000

APU

26217000000

Description

This exceptional 44,431.2 square foot vacant land parcel presents a unique investment opportunity in Panama City, Florida. Located at 6345 E Highway 98, zip code 32404, this property boasts a recently constructed, 26-slip deep-water marina, a truly rare find in this desirable location. The expansive lot offers significant potential for diverse development, catering to a variety of commercial ventures. Imagine the possibilities: a thriving ship store catering to boaters, a waterfront restaurant offering stunning bay views, or perhaps a lucrative boat storage facility. The existing marina infrastructure provides a solid foundation for immediate income generation and future expansion. Built in 2022, the marina is ready for operation, minimizing upfront development costs and maximizing return on investment. The property's prime location on the Bay ensures high visibility and accessibility, attracting a large customer base. This is a chance to acquire a turnkey commercial property with significant upside potential in a rapidly growing area. The asking price is $1,500,000. Don't miss this exceptional opportunity to secure a piece of Panama City's vibrant waterfront. Contact us today to learn more about this remarkable property and its development possibilities.

• CAP approach

  CAP return

  Valuation

  6%

  $1,065,435

  6.5%

  $983,478

  7%

  $913,230

• Comparable approach

  Method

  Valuation

  Relative Method

  $413,886

  Geo Method

  $413,886

• Alternative Use

  Use

  Valuation

  Residential

  $1,219,513

  Hospitality

  $1,117,068

  Educational

  $929,387

  Medical

  $961,350

  Retail

  $1,445,713

Location Insight

City

Panama City

County

Bay

State

Florida

Latitude

30.1082

Longitude

-85.604

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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