Climate-Controlled Flex
For Sale
$589,000
2611 E 6th St, Panama City, FL 32401
Climate-controlled space combines industrial power with dedicated office, kitchen, and storage areas.
Property Size5,000 SF
Price / SF$117.80
Days on Market56
Property Features for 2611 E 6th St
General Information
Standard status
Active
Size
5,000 SF
Total Parking Spaces
5
Property subtype
Commercial
Warehouse & Industrial
Clear Height
20 ft
Drive-In Doors
1
Three-Phase Power
Yes
Conditioned Warehouse
Yes
Building Details
Year Built
2005
Buildings
1
Building Size
5,000 SF
Construction
Quonset steel
Listing Agency:
The Joe Real Estate Partners
Listed By:
Eeman Heisler · License #660_72
(678) 521-0956
Source:
Gulfcoastrealty
Added: Sep 12
Changed: Oct 26
Last Checked: Nov 6 at 6:05AM
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 The Joe Real Estate Partners
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Investment Insights
Based on property information with market context.
This 5,000 SF flex facility, built in 2005, is designed for commercial operations requiring controlled interior conditions and durable construction. The Quonset-style steel structure has spray foam insulation, a concrete slab foundation, epoxy-coated floors, LED lighting, 20 ft height, and 3-phase power. A 14' front sliding door supports vehicle and equipment access, while the interior includes a dedicated office, kitchen, and additional storage room.
The property is located at 2611 E 6th St in Panama City, less than a mile from Watson Bayou and the Millville boat launch. At least 5 dedicated exterior parking spaces are provided. A separate 12' x 40' portable building and an adjacent land lot are also available for separate purchase, offering additional options for storage, parking, or yard use.
The property is located at 2611 E 6th St in Panama City, less than a mile from Watson Bayou and the Millville boat launch. At least 5 dedicated exterior parking spaces are provided. A separate 12' x 40' portable building and an adjacent land lot are also available for separate purchase, offering additional options for storage, parking, or yard use.
Key Highlights
- 5,000 SF climate‑controlled flex facility built in 2005
- 20 ft height, 3‑phase power, and 14' front sliding door
- Quonset steel construction with spray foam insulation in walls and roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,257
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$865,140
$865.1K
Cap Rate 7%
$617,957
$618.0K
Cap Rate 9%
$480,633
$480.6K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$70.2K $14.04/SF
− Vacancy
−$3.7K −$0.73/SF
EGI
$66.5K $13.31/SF
− OpEx
−$23.3K −$4.66/SF
NOI
$43.3K $8.65/SF
Area
Bay County, FL
Vacancy
5.20%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$865,140
Cap Rate 7%
$617,957
Cap Rate 9%
$480,633
Alternative Uses
Best Use
Flex RnD
$618.0K
$540.7K – $721.0K
NOI $43,257 @ 7.0% cap · market cap 7.34%
Second Best
Warehouse
$541.0K
$473.4K – $631.2K
NOI $37,873 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$1.46M
$1.27M – $1.70M
NOI $101,978 @ 7.0% cap · market cap 17.31%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
20 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
336
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 32401, FL
20,487
Population
10,239
Households
2
Avg Household Size
42
Median Age
20%
College-Educated
86%
High-School Grad
12.5 sq mi
ZIP Area
1,639
Density / Sq Mi
$49,901
Median Household Income
$35,885
Median Earnings
$1,194
Median Rent
$207,000
Median Home Value
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Market
Average Price Trend$/SF for Flex space in Panama City, FL
Properties on Market for Flex space in Panama City
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Climate-controlled space combines industrial power with dedicated office, kitchen, and storage areas.
Where is this flex space located?
The property is located at 2611 E 6th St Panama City, FL.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: 5,000 SF climate‑controlled flex facility built in 2005; 20 ft height, 3‑phase power, and 14' front sliding door; Quonset steel construction with spray foam insulation in walls and roof
