New Warehouse with Distribution
For Sale
$5,750,000
2505 Industrial Drive Panama, Panama City, FL 32405
30,000 SF warehouse with distribution and logistics features.
Property Size30,000 SF
Lot Size4.00 Acres
Price / SF$191.67
Days on Market112
Property Features for 2505 Industrial Drive Panama
General Information
Standard status
Active
Size
30,000 SF
Lot size
4.00 Acres
Property subtype
Factory
Building Details
Building Size
30,000 SF
Properties For Sale
at 2505 Industrial Drive Panama Contact us- Size
- 10,000 SF
- Lease Type
- NNN
Space A
- Size
- 10,000 SF
- Lease Type
- NNN
Space B
- Size
- 10,000 SF
- Lease Type
- NNN
Space C
Listing Agency:
Clubbs Real Estate Group, LLC
(850) 819-0136
Listed By:
Christopher Clubbs
(850) 819-0136
Source:
Thebrokerlist
Added: May 8
Changed: Aug 25
Last Checked: Aug 26 at 5:27AM
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.
This newly constructed 30,000± SF warehouse is designed for efficient distribution and long-term performance. It features 28 dock-high doors, three additional dock positions on a uniform loading platform, and 10 grade-level doors, providing flexibility for logistics and industrial operations. Situated on a site with up to 4.0± acres of additional land available for outside storage or truck parking, the property benefits from Bay County’s Industrial-2 zoning, allowing for scalable operations and future expansion. The building is designed for multi-tenant or single-user functionality, with three divisible bays, each equipped with new restrooms and infrastructure to support further buildout. Clear heights of 18’ at the eaves and 21’ at the ridge, combined with reinforced concrete slabs, support efficient racking, storage, and heavy use. The corner lot configuration provides truck ingress and egress, enhancing circulation and operational flow. Located in central Bay County, the property offers access to Highway 231 and Highway 98, enabling regional connectivity. The property is located within Panama City’s industrial corridor, offering access to Highway 231 and Highway 77 with connectivity to Interstate 10 for regional distribution. The property’s proximity to Port Panama City and the surrounding industrial base supports efficient logistics, while its position outside high-traffic retail areas allows for truck access and circulation, ideal for warehousing and last-mile operations. Estimated completion is July 2026.
Key Highlights
- Strategic central Bay County location with direct access to Highway 231 and Highway 98.
- 30,000± SF newly constructed warehouse** designed for distribution, logistics, or last‑mile operations.
- 28 dock‑high doors plus three additional dock positions** on a uniform loading platform, along with 10 grade‑level doors.
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
4.49%
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 4.49%
Second Best
Industrial
$2.92M
$2.56M – $3.41M
NOI $204,561 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$7.54M
$6.60M – $8.80M
NOI $528,120 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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 - 30,000 SF warehouse with distribution and logistics features.
Where is this warehouse located?
The property is located at 2505 Industrial Drive Panama Panama City, FL.
What is the asking price?
The asking price for this property is $5,750,000.
What are key features of this property?
This property features: Strategic central Bay County location with direct access to Highway 231 and Highway 98.; 30,000± SF newly constructed warehouse** designed for distribution, logistics, or last‑mile operations.; 28 dock‑high doors plus three additional dock positions** on a uniform loading platform, along with 10 grade‑level doors.
