Spacious Warehouse with Office
For Sale
$529,000
758 W 13th Street #7, Panama City, FL 32401
Panama City warehouse featuring high ceilings, roll-up doors, and office.
Property Size4,352 SF
Price / SF$121.55
Days on Market480
Property Features for 758 W 13th Street #7
General Information
Standard status
Active
Size
4,352 SF
Property subtype
Commercial
Amenities
Metal Roof
Cleared
Level
Paved
Building Details
Year Built
2024
Listing Agency:
SALTY MARLIN REALTY
(850) 615-2406
Listed By:
WHEELER SAULS COLLECTIVE
Source:
Corcoran
Added: May 2, 2025
Changed: Aug 23
Last Checked: Aug 23 at 5:54AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SALTY MARLIN REALTY
Investment Insights
Based on property information with market context.
This warehouse property, located in Panama City, FL, offers a spacious area suitable for various business operations. The warehouse includes two large bays equipped with 14ft roll-up garage doors and 20 ft ceilings, facilitating the loading and unloading of goods and equipment. Additionally, the property features a 500 sq ft office space and a half bathroom, providing convenience for employees and clients. With a total property size of 4352 sq ft, this warehouse is suitable for storage or manufacturing purposes. This property presents a leasing opportunity for businesses looking to expand their operations in Panama City.
Key Highlights
- Two large bays with 14ft roll‑up garage doors for easy loading/unloading.
- 20 ft ceilings providing ample vertical space.
- Spacious warehouse suitable for storage or manufacturing.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,423
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.07%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$748,460
$748.5K
Cap Rate 7%
$534,614
$534.6K
Cap Rate 9%
$415,811
$415.8K
Market Conditions
NOI Build-Up for 4,352 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$46.0K $10.56/SF
− Vacancy
−$1.9K −$0.44/SF
EGI
$44.0K $10.12/SF
− OpEx
−$6.6K −$1.52/SF
NOI
$37.4K $8.60/SF
Area
Walton County, FL
Vacancy
4.20%
Lease Rate
$10.56 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$748,460
Cap Rate 7%
$534,614
Cap Rate 9%
$415,811
Alternative Uses
Best Use
Warehouse
$534.6K
$467.8K – $623.7K
NOI $37,423 @ 7.0% cap · market cap 7.07%
Second Best
Industrial
$423.9K
$370.9K – $494.6K
NOI $29,675 @ 7.0% cap · market cap 5.61%
Theoretical Best
Office A
$1.09M
$957.7K – $1.28M
NOI $76,613 @ 7.0% cap · market cap 14.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,177
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32401, FL
20,487
Population
10,239
Households
2
Avg Household Size
42
Median Age
20%
College-Educated
86%
High-School Grad
12.5 sq mi
ZIP Area
1,639
Density / Sq Mi
$49,901
Median Household Income
$35,885
Median Earnings
$1,194
Median Rent
$207,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Panama City warehouse featuring high ceilings, roll-up doors, and office.
Where is this warehouse located?
The property is located at 758 W 13th Street #7 Panama City, FL.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Two large bays with 14ft roll‑up garage doors for easy loading/unloading.; 20 ft ceilings providing ample vertical space.; Spacious warehouse suitable for storage or manufacturing.
