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Harrison Lilly Team

Owner/Operator | Harrison Lilly Emerald Coast | Harrison Lilly Realty | PLACE

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4841 E Highway 98 , Panama City, FL 32404
$299,000
Est. Payment: $1,651.93/mo
4440 Sqft
0.66 Acres
Status: Active | Days on site: 26
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LPA - B12648,BD494
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Harrison Lilly Team
Owner/Operator

House Description

**High-Visibility Highway 98 Commercial Redevelopment Opportunity** Excellent commercial redevelopment opportunity on approximately 0.65 acres with an impressive 175 feet of frontage along East Highway 98 in Panama City. This highly visible property currently features two commercial buildings, including a 2,340-square-foot vehicle service building and an approximately 2,100-square-foot building identified by the Property Appraiser as vehicle sales/retail. The site offers extensive concrete parking and a prominent location along a well-traveled commercial corridor, providing excellent exposure for a future development or commercial venture. With substantial highway frontage, existing improvements, ample paved parking, and a strategic Panama City location, this property presents an attractive opportunity for investors and developers looking to redevelop or reposition a high-profile commercial site. The existing buildings may provide potential interim use while plans for redevelopment are explored. Buyer to verify zoning, permitted uses, development potential, dimensions, utilities, and all other property information with the appropriate governmental authorities.

Highlights

Listed by Jeremy M Donaldson , 850-319-2643 and Nathan Lawrence , 850-783-2302 Legacy Premier Agency , 850-468-2100. Bay County Association of REALTORS

Property Type

Commercial Sale

Lot/Acreage
0.66

Year Built

1980

County

Bay

Area

02 - Bay County - Central

Neighborhood

Lake Drive Heights

Listing ID

794085

Questions about this listing?

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Interior Features

Exterior Features

Zoning:General Commercial
Roof:Metal
Parking Features:Paved
Principal Interest
$1,652
Taxes
$191

Home Price

$299,000

Loan Details

30 yrs
7.374%

Down Payment

20%
$59,800
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Monthly Price:
$1,651.93

Principal

Taxes

Principal Taxes HOA Total
Monthly $1,651.93 $190.61 $0.00 $1,842.54
Yearly $19,823.18 $2,287.35 $0.00 $22,110.53
Total $594,695.50 $68,620.50 $0.00 $663,316.00

Today's Rates

30 Year

7.37%

20 Year

7.27%

15 Year

6.8%

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Market insight data is pulled from the same city as the listing being viewed (Panama City, FL).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by Bay County Association of REALTORS, and is deemed reliable but not guaranteed accurate.

IDX service by Blueroof 360

Data last updated: 2026-10-07T08:26:25.000Z

© 2026 Bay County Association of REALTORS