Modern Industrial Warehouse with
For Sale
Contact for pricing
2325 Transmitter Rd, Panama City, FL
18,000 SF industrial warehouse with office and laydown yard.
Property Size18,000 SF
Lot Size0.98 Acres
Price / SF$110
Days on Market362
Property Features for 2325 Transmitter Rd
General Information
Standard status
Active
Size
18,000 SF
Lot size
0.98 Acres
Property subtype
INDUSTRIAL
Properties For Sale
at 2325 Transmitter Rd Contact us- Floor
- Bldg
- Size
- 18,000 SF
- Type
- INDUSTRIAL
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
2325 Transmitter Rd
- Constructed in 2019, this 18,000 SF clear-span industrial warehouse is located...
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Listing Agency:
Five Bridges Real Estate Services
(850) 532-5454
Listed By:
Kevin Wattenbarger, CCIM · License ##BK3424407
Source:
Moodyscre
Added: Aug 28, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:01AM
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 Five Bridges Real Estate Services
Investment Insights
Based on property information with market context.
Constructed in 2019, this 18,000 square foot clear-span industrial warehouse is situated on 2.09 +/- acres along Transmitter Road in Panama City, Florida. The steel-frame building, measuring 300 feet by 60 feet, includes approximately 1,980 square feet of finished office space and a 360 square foot covered canopy. It also features a large laydown yard suitable for outdoor storage, material staging, or vehicle parking. The building has a 16-foot ceiling height at the center and a 14-foot eave height. It is equipped with three grade-level roll-up doors and three-phase, 240V electrical service, with transformers in place to step up to 480V. This electrical infrastructure is designed to support various industrial operations, including those requiring high-load manufacturing equipment or specialized machinery. The property spans two contiguous parcels and benefits from strong visibility and accessibility from Transmitter Road, a major north-south thoroughfare in Panama City.
Key Highlights
- 18,000 SF clear‑span industrial warehouse built in 2019.
- Large laydown yard suitable for outdoor storage, material staging, or vehicle parking.
- Three‑phase, 240V electrical service with transformers to step up to 480V.
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
$154,782
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
7.82%
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%
$3,095,640
$3.1M
Cap Rate 7%
$2,211,171
$2.2M
Cap Rate 9%
$1,719,800
$1.7M
Market Conditions
NOI Build-Up for 18,000 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
$190.1K $10.56/SF
− Vacancy
−$8.0K −$0.44/SF
EGI
$182.1K $10.12/SF
− OpEx
−$27.3K −$1.52/SF
NOI
$154.8K $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%
$3,095,640
Cap Rate 7%
$2,211,171
Cap Rate 9%
$1,719,800
Alternative Uses
Best Use
Warehouse
$2.21M
$1.93M – $2.58M
NOI $154,782 @ 7.0% cap · market cap 7.82%
Second Best
Industrial
$1.75M
$1.53M – $2.05M
NOI $122,737 @ 7.0% cap · market cap 6.20%
Theoretical Best
Office A
$4.53M
$3.96M – $5.28M
NOI $316,872 @ 7.0% cap · market cap 16.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
78
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Arrowhead Storage — 3414 e orlando rd, panama city, fl 32405
- Allied Van Lines — 2118 Juniper Ct Suite A, Panama City, FL 32405
Frequently Asked Questions
What type of property is this?
Warehouse - 18,000 SF industrial warehouse with office and laydown yard.
Where is this warehouse located?
The property is located at 2325 Transmitter Rd Panama City, FL.
What is the asking price?
The asking price for this property is $1,980,000.
What are key features of this property?
This property features: 18,000 SF clear‑span industrial warehouse built in 2019.; Large laydown yard suitable for outdoor storage, material staging, or vehicle parking.; Three‑phase, 240V electrical service with transformers to step up to 480V.
