Flex-Use Industrial Corner
2135 E 5th Street Panama City, FL 32401
2135 E 5th Street, Panama City, FL, 32401
$1,350,000
For Sale
$1,350,000
Fenced corner lot with 6,200 sf of flex industrial space, including receiving area and separate heated welding workshop.
Property Size6,200 SF
Price / SF$217.74
Days on Market126
Property Features for 2135 E 5th Street
General Information
- Standard status
- Active
- Size
- 6,200 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1955
Listing agency
COMPASS FLORIDA, LLC
(850) 296-9769
Listed by
KATILYN SCOTT
Source
Corcoran
Added: Mar 18 Updated: Jul 21 at 1:33AM Checked: Jul 21 at 5:02AM
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 COMPASS FLORIDA, LLC
Investment Insights
Based on property information with market context.
This 1.26-acre corner property features approximately 6,200 square feet of total building space designed for flexible mixed-use and operational needs. The main building includes a reception area, two offices, three bathrooms, and a large open sewing and multi-purpose workspace measuring about 52'5'' x 32'. A 43' x 44' receiving and logistics area is included and is currently unfinished, but it is equipped with its own HVAC system and has two roll-up doors. The site also includes a separate 1,500-square-foot heated and cooled welding workshop with roll-up doors, suitable for fabrication and mechanical use.
The property fronts Business Hwy 98 (E 5th Street) with approximately 388 feet of frontage and offers two access points for ingress and egress. Zoned Neighborhood Downtown (ND), it is located within the Millville Downtown District and within a Community Redevelopment Agency (CRA) district.
Improvements noted include newer HVAC systems and a 2019 metal roof. Parcels 22284-000-000 and 22704-000-000 are sold together. The established business operating on-site is available for purchase separately from the real estate price, with business valuation handled separately.
The property fronts Business Hwy 98 (E 5th Street) with approximately 388 feet of frontage and offers two access points for ingress and egress. Zoned Neighborhood Downtown (ND), it is located within the Millville Downtown District and within a Community Redevelopment Agency (CRA) district.
Improvements noted include newer HVAC systems and a 2019 metal roof. Parcels 22284-000-000 and 22704-000-000 are sold together. The established business operating on-site is available for purchase separately from the real estate price, with business valuation handled separately.
Key Highlights
- 1.26‑acre fenced corner lot with 388' frontage on Business Hwy 98 (E 5th St) and AADT of 19,300 vehicles
- Zoned Neighborhood Downtown (ND) for flexible mixed‑use development options (commercial, residential, and mixed‑use)
- Approximately 6,200 SF of total building space with reception, 2 offices, 3 bathrooms, and a 52'5" x 32' sewing/multi‑purpose workspace
Local Financial Insights For Flex RnD
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 | $96.7k | $15.60 |
| − Vacancy | −$7.7k | −$1.25 |
| EGI | $89.0k | $14.35 |
| − OpEx | −$31.1k | −$5.02 |
| NOI | $57.8k | $9.33 |
6,200 SF · lease $15.60/SF/yr · vacancy 8.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$826.3K
$723.0K – $964.0K
NOI $57,839 @ 7.0% cap · market cap 4.28%
Second Best
Industrial
$603.9K
$528.5K – $704.6K
NOI $42,276 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $109,145 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Bob's Top Shop
Building Supply
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Fenced corner lot with 6,200 sf of flex industrial space, including receiving area and separate heated welding workshop.
Where is this flex space located?
The property is located at 2135 E 5th Street Panama City, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 1.26‑acre fenced corner lot with 388' frontage on Business Hwy 98 (E 5th St) and AADT of 19,300 vehicles; Zoned Neighborhood Downtown (ND) for flexible mixed‑use development options (commercial, residential, and mixed‑use); Approximately 6,200 SF of total building space with reception, 2 offices, 3 bathrooms, and a 52'5" x 32' sewing/multi‑purpose workspace
