Heated Flex Building with Roll-Up
New
For Sale
$850,000
7521 Holley Circle, Panama City, FL 32408
Heated and cooled commercial space includes mezzanine storage, paved parking, and partial fencing.
Property Size4,800 SF
Price / SF$177.08
Days on Market5
Property Features for 7521 Holley Circle
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Commercial
Zoning
C-4, Research Design
Amenities
shower
overhead roll up doors
mezzanine storage
Metal Roof
Central Heating
Concrete Flooring
Electric Heating
Paved
Building Details
Year Built
2006
Buildings
1
Listing Agency:
COASTAL REAL ESTATE GROUP, INC
(850) 230-3668
Listed By:
JOAN C ALTENPOHL
Source:
Corcoran
Added: Aug 6
Changed: Aug 9
Last Checked: Aug 9 at 2:45PM
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 COASTAL REAL ESTATE GROUP, INC
Investment Insights
Based on property information with market context.
This 4,800 SF flex building was constructed in 2006 and is equipped with heating and cooling. The interior includes two bathrooms, including one with a shower, along with mezzanine storage positioned above the bathroom area. Two overhead roll-up doors support loading and access, while paved parking and partial fencing are provided on site.
The property is zoned C-4, Research Design, in unincorporated Bay County and is located near the Navy Base. The configuration is identified as suitable for defense contractors, suppliers, warehouse and distribution operations, and research and development uses.
The property is zoned C-4, Research Design, in unincorporated Bay County and is located near the Navy Base. The configuration is identified as suitable for defense contractors, suppliers, warehouse and distribution operations, and research and development uses.
Key Highlights
- 4,800 SF heated and cooled flex building
- Two overhead roll‑up doors
- Two bathrooms, including one with a shower
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
$44,778
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
5.27%
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%
$895,560
$895.6K
Cap Rate 7%
$639,686
$639.7K
Cap Rate 9%
$497,533
$497.5K
Market Conditions
NOI Build-Up for 4,800 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
$74.9K $15.60/SF
− Vacancy
−$6.0K −$1.25/SF
EGI
$68.9K $14.35/SF
− OpEx
−$24.1K −$5.02/SF
NOI
$44.8K $9.33/SF
Area
Walton County, FL
Vacancy
8.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
35.00%
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%
$895,560
Cap Rate 7%
$639,686
Cap Rate 9%
$497,533
Alternative Uses
Best Use
Flex RnD
$639.7K
$559.7K – $746.3K
NOI $44,778 @ 7.0% cap · market cap 5.27%
Second Best
Warehouse
$589.6K
$515.9K – $687.9K
NOI $41,275 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,499 @ 7.0% cap · market cap 9.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
930
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32408, FL
17,479
Population
17,018
Households
1
Avg Household Size
48
Median Age
39%
College-Educated
96%
High-School Grad
8.6 sq mi
ZIP Area
2,032
Density / Sq Mi
$72,322
Median Household Income
$42,749
Median Earnings
$1,453
Median Rent
$352,400
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.
Frequently Asked Questions
What type of property is this?
Flex space - Heated and cooled commercial space includes mezzanine storage, paved parking, and partial fencing.
Where is this flex space located?
The property is located at 7521 Holley Circle Panama City, FL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 4,800 SF heated and cooled flex building; Two overhead roll‑up doors; Two bathrooms, including one with a shower
