Distribution Center with Office
For Sale
$10,250,000
17684 Cordova Place, Panama City Beach, FL 32413
57,328 SF distribution center with office and showroom space.
Property Size57,328 SF
Lot Size4.50 Acres
Price / SF$178.80
Days on Market410
Property Features for 17684 Cordova Place
General Information
Standard status
Active
Size
57,328 SF
Lot size
4.50 Acres
Property subtype
Commercial
Amenities
Concrete Flooring
Pitched Roof
Building Details
Year Built
2020
Listing Agency:
RESOURCE REALTY GROUP, LLC
(850) 630-4500
Listed By:
NEIL C JONES
(850) 258-8971
Source:
Corcoran
Added: Aug 28, 2025
Changed: Oct 10
Last Checked: Oct 11 at 6:58AM
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 RESOURCE REALTY GROUP, LLC
Investment Insights
Based on property information with market context.
This 57,328 square foot distribution center is situated on 4.5 acres and includes 5,000 square feet of office and showroom space. The property features loading docks with two dock-high 14-foot roll-up doors and two ground-level 14-foot overhead doors. Constructed in 2020 by Reliant South Contractors, the property was built to suit, and a full set of construction plans are available. The property is currently occupied and shown by appointment only.
Key Highlights
- 57,328 SF Distribution Center on 4.5 acres
- Built to Suit in 2020
- Features 5,000 SF of offices and showroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$434,232
Cap Rate
4.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,684,640
$8.7M
Cap Rate 7%
$6,203,314
$6.2M
Cap Rate 9%
$4,824,800
$4.8M
Market Conditions
NOI Build-Up for 57,328 SF
Gross rent
$543.5K $9.48/SF
− Vacancy
−$32.6K −$0.57/SF
EGI
$510.9K $8.91/SF
− OpEx
−$76.6K −$1.34/SF
NOI
$434.2K $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 Rate 5%
$8,684,640
Cap Rate 7%
$6,203,314
Cap Rate 9%
$4,824,800
Alternative Uses
Best Use
Warehouse
$6.20M
$5.43M – $7.24M
NOI $434,232 @ 7.0% cap · market cap 4.24%
Second Best
Industrial
$5.40M
$4.72M – $6.30M
NOI $377,708 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$16.70M
$14.62M – $19.49M
NOI $1,169,238 @ 7.0% cap · market cap 11.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Explore this area
Business Placement
Demographics for 32413, FL
15,217
Population
16,334
Households
0.9
Avg Household Size
50
Median Age
34%
College-Educated
94%
High-School Grad
108.2 sq mi
ZIP Area
141
Density / Sq Mi
$76,010
Median Household Income
$41,282
Median Earnings
$1,629
Median Rent
$384,000
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?
Distribution center - 57,328 SF distribution center with office and showroom space.
Where is this distribution center located?
The property is located at 17684 Cordova Place Panama City Beach, FL.
What is the asking price?
The asking price for this property is $10,250,000.
What are key features of this property?
This property features: 57,328 SF Distribution Center on 4.5 acres; Built to Suit in 2020; Features 5,000 SF of offices and showroom
