Two-Bay
For Sale
$529,000
758 W 13th Street ##7, Panama City, FL 32401
Commercially zoned warehouse includes dedicated office space and a half bathroom.
Property Size4,000 SF
Days on Market462
Property Features for 758 W 13th Street ##7
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Commercial
Zoning
Commercial
Warehouse & Industrial
Clear Height
20 ft
Office Build-Out
500 SF
Drive-In Doors
2
Building Details
Building Size
4,000 SF
Year Built
2024
Listing Agency:
Salty Marlin Realty LLC
(850) 527-2275
Listed By:
The Wheeler Sauls Collective
(850) 527-2275
Source:
Fullsailnwfl
Added: May 2, 2025
Changed: Aug 5
Last Checked: Aug 6 at 12:09PM
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 LLC
Investment Insights
Based on property information with market context.
Built in 2024, this warehouse property in Panama City, Florida, is arranged with two bays, 14-foot roll-up garage doors, and 20-foot ceilings. The configuration supports loading access and provides functional volume for storage or manufacturing operations. A 500-square-foot office and half bathroom add administrative and employee support space within the building.
The property is located at 758 W 13th Street #7 and carries Commercial zoning. It is currently leased, offering an existing occupancy position for an owner or investor evaluating the asset.
The property is located at 758 W 13th Street #7 and carries Commercial zoning. It is currently leased, offering an existing occupancy position for an owner or investor evaluating the asset.
Key Highlights
- Two‑bay warehouse configuration
- 14‑foot roll‑up garage doors
- 20‑foot ceilings
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
$34,396
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
6.50%
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%
$687,920
$687.9K
Cap Rate 7%
$491,371
$491.4K
Cap Rate 9%
$382,178
$382.2K
Market Conditions
NOI Build-Up for 4,000 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
$42.2K $10.56/SF
− Vacancy
−$1.8K −$0.44/SF
EGI
$40.5K $10.12/SF
− OpEx
−$6.1K −$1.52/SF
NOI
$34.4K $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%
$687,920
Cap Rate 7%
$491,371
Cap Rate 9%
$382,178
Alternative Uses
Best Use
Warehouse
$491.4K
$430.0K – $573.3K
NOI $34,396 @ 7.0% cap · market cap 6.50%
Second Best
Industrial
$389.6K
$340.9K – $454.6K
NOI $27,275 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$1.01M
$880.2K – $1.17M
NOI $70,416 @ 7.0% cap · market cap 13.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
2
Drive-in doors
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Commercially zoned warehouse includes dedicated office space and a half bathroom.
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‑bay warehouse configuration; 14‑foot roll‑up garage doors; 20‑foot ceilings
