$1,540,000
Panama City, FL 32405
MLS# 769692
Status: Sold
11800 sqft
1 / 6
Property Description
Welcome to a lucrative investment opportunity in Panama City, FL. This prime commercial property at 2810 Hwy 77 offers a solid income stream with a favorable cap rate of 7.1%. With an occupied space and annual tenant income of $163,823 this property ensures long-term financial growth. Featuring two buildings (front 5,000 sf & back 6,000 sf) totaling 11,000 sq ft, this property houses thriving tenants including South Oak Title, Think Real Estate, and Mochas & Minis. The combined tenant income of $163,823 annually guarantees a steady cash flow. Strategically located on Hwy 77, this property enjoys excellent visibility and high traffic exposure, with consistent demand for commercial space. Close to amenities and businesses, it leverages the city's economic growth for maximum returns. With a competitive price, solid tenant base, impressive income, and favorable cap rate, this investment property offers exceptional value. Future appreciation enhance its long-term potential. In 2019 both buildings were remodeled with new roofs. Extensive modern buildout was completed for South Oak Title and Think Real Estate. All Ac units are less than 5 years old with (2) 5 ton units replaced in back building in June 2023. Don't miss out on this opportunity to acquire a fully occupied investment property.
Details
Maps
Contract Info
List Price/SqFt: 135.59
List Date: 2025-02-27
List Price: $1,600,000
Current Price: $1,540,000
Sub-Type: Office
Location
Unit #: A-B
Sub Area: 0201 - Bay - Central NE
Community/Resort: None
Waterfront: No
Elementary School: Hiland Park
Middle School: Mowat
High School: Bay
Directions: To reach this property from Panama City Beach, head east on US-98 E, then turn left onto FL-77 N (Martin Luther King Jr Blvd). Continue north for approximately 3 miles; the destination will be on your right.
Area: 02 - Bay County - Central
Street #: 2810
Street Name: Hwy 77
State: FL
Zip Code: 32405
County: Bay
Subdivision: [No Recorded Subdiv]
Parcel ID: 12865-001-000
Legal Description: 28 3S 14W -8.2- 104B ST AND BAY DEV CO PLAT BEG 95' E OF SW COR LOT 45 TH N 125' E 300' S 125' W 300' TO POB ORB 4116 P 2157
General Property Info
List Class: Commercial
Acreage: 0.86
Construction Status: Construction Complete
# of Units: 3
SqFt - Office: 5000
SqFt - Warehouse: 6000
Frontage Ft: 125
SqFt Tot Bldg: 11800
Lot Depth: 300
Ceiling Height: 18
Year Built: 1983
Listing Info, Tax and Legal
HOA Fee: No
Remarks & Misc
Remarks: Welcome to a lucrative investment opportunity in Panama City, FL. This prime commercial property at 2810 Hwy 77 offers a solid income stream with a favorable cap rate of 7.1%. With an occupied space and annual tenant income of $163,823 this property ensures long-term financial growth.
Featuring two buildings (front 5,000 sf & back 6,000 sf) totaling 11,000 sq ft, this property houses thriving tenants including South Oak Title, Think Real Estate, and Mochas & Minis. The combined tenant income of $163,823 annually guarantees a steady cash flow.
Strategically located on Hwy 77, this property enjoys excellent visibility and high traffic exposure, with consistent demand for commercial space. Close to amenities and businesses, it leverages the city's economic growth for maximum returns.
With a competitive price, solid tenant base, impressive income, and favorable cap rate, this investment property offers exceptional value. Future appreciation enhance its long-term potential.
In 2019 both buildings were remodeled with new roofs. Extensive modern buildout was completed for South Oak Title and Think Real Estate. All Ac units are less than 5 years old with (2) 5 ton units replaced in back building in June 2023. Don't miss out on this opportunity to acquire a fully occupied investment property.
Status Change Info
Sold Price/SqFt: 130.51
Sold Price/Acre: 1790697.67
Status: Sold
Under Contract Date: 2025-03-13
Sold Date: 2025-05-21
Sold Price: $1,540,000
Energy
AC - 2 or More: 1
Present Zoning
Commercial: 1
Utilities
All Utilities: 1
Business/Property
Freestanding Building: 1
Furnished - None: 1
Floors in Unit/Home
One: 1
Heating/Cooling
AC - Central: 1
Income Producing
Net Operating Income: 153943
Transport. Access
4-Lane: 1
Divided Highway: 1
Property Features
Energy: AC - 2 or More
Present Zoning: Commercial
Utilities: All Utilities
Listing Office: Counts Real Estate Group Inc
Last Updated: May - 23 - 2025
Information deemed reliable but not guaranteed.