NNN Industrial Property with
For Sale
Contact for pricing
2550 Sherman Ln, Panama City, FL 32405
An upgraded facility under long-term net lease is paired with an adjacent vacant warehouse.
Property Size60,000 SF
Price / SF$166.35
Days on Market18
Property Features for 2550 Sherman Ln
General Information
Standard status
Active
Size
60,000 SF
Property subtype
INDUSTRIAL
Additional Details
Warehouse Space
10,000 SF
Building Details
Year Renovated
2026
Listing Agency:
NAI TALCOR | Panama City Beach
(850) 249-3946
Listed By:
Patrick Jones
(850) 814-5878
Source:
Moodyscre
Added: Sep 30
Changed: Oct 15
Last Checked: Oct 16 at 8:40AM
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 NAI TALCOR | Panama City Beach
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The 60,000-square-foot industrial property combines a long-term net-leased facility with an adjacent 10,000-square-foot warehouse. Buffalo Rock Company has operated in the Panama City market since 1986, and the leased facility was upgraded and modernized in 2026. The neighboring warehouse is vacant and was previously used as a commercial kitchen supporting vending operations. Its existing improvements remain in place.
Located in Panama City, the property is in Bay County, Florida. The county includes Panama City, Panama City Beach, and Lynn Haven, and its employment base includes tourism, military, education, and advanced manufacturing. Regional transportation infrastructure includes Northwest Florida Beaches International Airport and Port Panama City.
Located in Panama City, the property is in Bay County, Florida. The county includes Panama City, Panama City Beach, and Lynn Haven, and its employment base includes tourism, military, education, and advanced manufacturing. Regional transportation infrastructure includes Northwest Florida Beaches International Airport and Port Panama City.
Key Highlights
- 60,000‑square‑foot industrial property
- Long‑term net‑lease structure with Buffalo Rock Company
- Adjacent 10,000‑square‑foot warehouse is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$454,471
Cap Rate
4.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,089,420
$9.1M
Cap Rate 7%
$6,492,443
$6.5M
Cap Rate 9%
$5,049,678
$5.0M
Market Conditions
NOI Build-Up for 60,000 SF
Gross rent
$568.8K $9.48/SF
− Vacancy
−$34.1K −$0.57/SF
EGI
$534.7K $8.91/SF
− OpEx
−$80.2K −$1.34/SF
NOI
$454.5K $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%
$9,089,420
Cap Rate 7%
$6,492,443
Cap Rate 9%
$5,049,678
Alternative Uses
Best Use
Warehouse
$6.49M
$5.68M – $7.57M
NOI $454,471 @ 7.0% cap · market cap 4.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$17.48M
$15.30M – $20.40M
NOI $1,223,735 @ 7.0% cap · market cap 12.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
218
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
NNN property - An upgraded facility under long-term net lease is paired with an adjacent vacant warehouse.
Where is this nnn property located?
The property is located at 2550 Sherman Ln Panama City, FL.
What is the asking price?
The asking price for this property is $9,980,769.
What are key features of this property?
This property features: 60,000‑square‑foot industrial property; Long‑term net‑lease structure with Buffalo Rock Company; Adjacent 10,000‑square‑foot warehouse is vacant
