Commercial Property with Warehouse, Office,
For Sale
$529,000
12114 Krocus Street, Fountain, FL 32438
Commercial property featuring warehouse, office, and residential spaces.
Property Size5,324 SF
Lot Size1.37 Acres
Price / SF$99.36
Days on Market172
Property Features for 12114 Krocus Street
General Information
Standard status
Active
Size
5,324 SF
Lot size
1.37 Acres
Property subtype
Commercial
Building Details
Year Built
1979
Listing Agency:
KELLER WILLIAMS SUCCESS REALTY
(850) 249-0313
Listed By:
DENNIS NELSON · License #SL3379289
Source:
Corcoran
Added: Mar 3
Changed: Aug 22
Last Checked: Aug 22 at 7:37AM
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 KELLER WILLIAMS SUCCESS REALTY
Investment Insights
Based on property information with market context.
This commercial property offers an opportunity for a business headquarters, featuring warehouse, office, and residential spaces. The property is located off Highway 231, providing access to Panama City, Highway 20, and Interstate 10. The property size is almost 1.5 acres, allowing for parking and outdoor storage. The property includes two main warehouses totaling 3200 sq ft, featuring concrete floors, overhead doors, and lighting. An additional storage structure provides 1500 sq ft of space. The property has three 4' deep wells. The main office is updated and has room for several workstations, a restroom, and a storage room. There are detached living quarters comprised of two separate units: a 2-bedroom, 1-bath unit and a 1-bedroom, 1-bath unit. Both units have kitchens. The property is comprised of three parcels, all with Commercial C-3 Zoning.
Key Highlights
- Excellent commercial location with easy access to Highway 231, Hwy 20, and Interstate 10.
- C‑3 Commercial Zoning across 3 parcels.
- Two main warehouses totaling 3200 sq ft with concrete floors, overhead doors, and lighting.
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
$40,327
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
7.62%
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%
$806,540
$806.5K
Cap Rate 7%
$576,100
$576.1K
Cap Rate 9%
$448,078
$448.1K
Market Conditions
NOI Build-Up for 5,324 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
$50.5K $9.48/SF
− Vacancy
−$3.0K −$0.57/SF
EGI
$47.4K $8.91/SF
− OpEx
−$7.1K −$1.34/SF
NOI
$40.3K $7.57/SF
Area
Bay County, FL
Vacancy
6.00%
Lease Rate
$9.48 /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%
$806,540
Cap Rate 7%
$576,100
Cap Rate 9%
$448,078
Alternative Uses
Best Use
Office B
$1.28M
$1.12M – $1.49M
NOI $89,519 @ 7.0% cap · market cap 16.92%
Second Best
Mixed Use
$770.1K
$673.8K – $898.4K
NOI $53,906 @ 7.0% cap · market cap 10.19%
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,586 @ 7.0% cap · market cap 20.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
48
Businesses Nearby
Explore this area
Business Placement
Demographics for 32438, FL
4,363
Population
2,232
Households
2
Avg Household Size
42
Median Age
12%
College-Educated
80%
High-School Grad
56.8 sq mi
ZIP Area
77
Density / Sq Mi
$42,417
Median Household Income
$28,701
Median Earnings
$725
Median Rent
$127,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial property featuring warehouse, office, and residential spaces.
Where is this mixed-use property located?
The property is located at 12114 Krocus Street Fountain, 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: Excellent commercial location with easy access to Highway 231, Hwy 20, and Interstate 10.; C‑3 Commercial Zoning across 3 parcels.; Two main warehouses totaling 3200 sq ft with concrete floors, overhead doors, and lighting.
