2505 W 15th St Panama City, FL
Fully occupied office building with long-term tenants.
- Added:
- Aug 14, 2023
- Days on Market:
- 1063
- Last Refresh:
- May 20 at 9:27 pm
Property Features for 2505 W 15th St
General Information
- Standard status
- Active
- Size
- 27,313 SF
- Lot size
- 1.43 Acres
- Property subtype
- OFFICE
Listing office NBI Properties, Inc. (850) 243-0007
Listing date Aug 14, 2023
Source Moodyscre
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 NBI Properties, Inc.
Investment Insights
Based on property information with market context.
Key Highlights
- 100% Occupied Investment Property
- Established Long‑Term Tenants: State of Florida (Children and Families, Education) since 2011/2014
- National Coating Systems, Inc. lease renewal through June 2028
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $573.6k | $21.00 |
| − Vacancy | −$114.7k | −$4.20 |
| EGI | $458.9k | $16.80 |
| − OpEx | −$114.7k | −$4.20 |
| NOI | $344.1k | $12.60 |
