7516 Olde Mill Road
About This Property
The property includes an existing 2-bedroom, 2-bath home with approximately 1,080 square feet, along with a detached workshop/storage structure and a fully fenced perimeter. Whether you're looking for a waterfront homesite, room for your boats and recreational equipment, a renovation project, or property with future development potential, this acreage offers numerous possibilities.
Enjoy the peaceful setting of North Bay County while remaining convenient to Panama City, Lynn Haven, shopping, dining and area recreation. Properties combining waterfront, acreage and this much usable space are increasingly difficult to find.
Bring your vision and take advantage of the possibilities offered by this 2.71-acre Gainer Bayou property. Buyer to verify all measurements, zoning, development potential and waterfront access important to the buyer.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 2, 2026 | Listed by Emerald Coast Realty Group | $349,900 | |
| Listed by Emerald Coast Realty Group | |||
| Aug 18, 2026 | Price Decreased |
$400,000
↓ $100K
(20%) | |
| Price Decreased | |||
| Apr 2, 2026 | Listed by Think Real Estate | $500,000 | |
| Listed by Think Real Estate | |||
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Rare 2.71-acre waterfront development opportunity on Gainer Bayou in Southport, FL. Gated corner lot at Olde Mill Rd & Co. Rd 2321 with direct bayou frontage, fully fenced perimeter, and detached workshop/storage structure. Minimal improvements -- maximum potential. Prime Acreage.
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| Jan 13, 2015 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017