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2810 Hwy 77 A-B, Panama City, FL 32405

$1,540,000
Property Type: Commercial for Sale Square Footage: 11,800 Lot Size (sq. ft.): 37,462 Status: Sold
Current Price: $1,600,000 List Date: 3/03/2025 Last Modified: 5/23/2025

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.

More Information MLS# 769692

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.