New Warehouse with Multiple
For Sale
$6,250,000
2505 Industrial Dr, Panama City, FL 32405
Newly constructed warehouse offers 28 dock-high doors plus grade-level access and three divisible bays for flexible operations.
Property Size30,000 SF
Price / SF$208.33
Days on Market49
Property Features for 2505 Industrial Dr
General Information
Standard status
Active
Size
30,000 SF
Zoning
Industrial-2
Warehouse & Industrial
Clear Height
21 ft
Dock-High Doors
28
Drive-In Doors
10
Additional Details
Highway Access
Yes
Listing Agency:
Clubbs Real Estate Group LLC
(850) 819-0136
Listed By:
Christopher Clubbs
(850) 819-0136
Source:
Exprealty
Added: Jul 10
Changed: Aug 24
Last Checked: Aug 26 at 10:51AM
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 Clubbs Real Estate Group LLC
Investment Insights
Based on property information with market context.
A newly constructed 30,000± SF warehouse built for efficient distribution and long-term industrial use. The facility includes 28 dock-high doors, three additional dock positions on a uniform loading platform, and 10 grade-level doors. Three divisible bays are available for multi-tenant or single-user functionality, and each bay includes new restrooms and infrastructure to support further buildout. Reinforced concrete slabs are included, with clear heights of 18' at the eaves and 21' at the ridge to support racking and heavy storage.
The property sits on a corner lot with a configuration designed to support truck ingress and egress. Up to 4.0± acres of additional land are available for outside storage or truck parking. It is located in central Bay County with immediate access to Highway 231 and Highway 98. Bay County’s Industrial-2 zoning supports scalable operations and future expansion.
Estimated completion is July 2026.
The property sits on a corner lot with a configuration designed to support truck ingress and egress. Up to 4.0± acres of additional land are available for outside storage or truck parking. It is located in central Bay County with immediate access to Highway 231 and Highway 98. Bay County’s Industrial-2 zoning supports scalable operations and future expansion.
Estimated completion is July 2026.
Key Highlights
- Newly constructed 30,000+ SF warehouse with 28 dock‑high doors and 10 grade‑level doors
- Three divisible bays for multi‑tenant or single‑user functionality, each with new restrooms and infrastructure for buildout
- Site offers up to 4.0+ acres of additional land for outside storage or truck parking
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
$257,970
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
4.13%
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%
$5,159,400
$5.2M
Cap Rate 7%
$3,685,286
$3.7M
Cap Rate 9%
$2,866,333
$2.9M
Market Conditions
NOI Build-Up for 30,000 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
$316.8K $10.56/SF
− Vacancy
−$13.3K −$0.44/SF
EGI
$303.5K $10.12/SF
− OpEx
−$45.5K −$1.52/SF
NOI
$258.0K $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%
$5,159,400
Cap Rate 7%
$3,685,286
Cap Rate 9%
$2,866,333
Alternative Uses
Best Use
Warehouse
$3.69M
$3.22M – $4.30M
NOI $257,970 @ 7.0% cap · market cap 4.13%
Second Best
Industrial
$2.92M
$2.56M – $3.41M
NOI $204,561 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$7.54M
$6.60M – $8.80M
NOI $528,120 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
21 ft
Clear height
28
Dock-high doors
10
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
218
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32405, FL
28,158
Population
13,585
Households
2.1
Avg Household Size
40
Median Age
29%
College-Educated
92%
High-School Grad
18.8 sq mi
ZIP Area
1,498
Density / Sq Mi
$71,002
Median Household Income
$41,867
Median Earnings
$1,418
Median Rent
$255,100
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?
Warehouse - Newly constructed warehouse offers 28 dock-high doors plus grade-level access and three divisible bays for flexible operations.
Where is this warehouse located?
The property is located at 2505 Industrial Dr Panama City, FL.
What is the asking price?
The asking price for this property is $6,250,000.
What are key features of this property?
This property features: Newly constructed 30,000+ SF warehouse with 28 dock‑high doors and 10 grade‑level doors; Three divisible bays for multi‑tenant or single‑user functionality, each with new restrooms and infrastructure for buildout; Site offers up to 4.0+ acres of additional land for outside storage or truck parking
