Two-Facility Self-Storage
810 Thomas Drive, Panama City, FL 32408
For Sale
Contact for pricing
Drive-up inventory spans three unit sizes and accommodates residential and commercial customers.
Property Size19,180 SF
Lot Size1.08 Acres
Price / SF$93.85
Days on Market9
Property Features for 810 Thomas Drive
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Self-Storage Units
Property Use
Building Details
Buildings
Listing Agency:
Ripco Real Estate
Listed By:
Jack Kaiser · License FL SL3519490
(732) 742-9250
Source:
Crexi
Added: Nov 2
Changed: Nov 8
Last Checked: Nov 8 at 6:22PM
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 Ripco Real Estate
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.
This self-storage portfolio includes two drive-up facilities with 189 units and approximately 19,180 combined gross square feet. The mix comprises 5×10, 10×10, and 10×20 units, serving both residential and commercial customers. The properties occupy a combined 1.08 acres and are located at 810 Thomas Drive and 2801 Joan Avenue in Panama City, Florida.
The facilities are approximately 2.2 miles apart, offering two distinct locations within the same market.
The facilities are approximately 2.2 miles apart, offering two distinct locations within the same market.
Key Highlights
- 189 drive‑up storage units across two facilities
- Approximately 19,180 combined gross square feet on 1.08 acres
- Unit mix includes 5×10, 10×10, and 10×20 configurations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$145,279
Cap Rate
8.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,905,580
$2.9M
Cap Rate 7%
$2,075,414
$2.1M
Cap Rate 9%
$1,614,211
$1.6M
Market Conditions
NOI Build-Up for 19,180 SF
Gross rent
$181.8K $9.48/SF
− Vacancy
−$10.9K −$0.57/SF
EGI
$170.9K $8.91/SF
− OpEx
−$25.6K −$1.34/SF
NOI
$145.3K $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%
$2,905,580
Cap Rate 7%
$2,075,414
Cap Rate 9%
$1,614,211
Alternative Uses
Best Use
Self Storage
$2.46M
$2.16M – $2.87M
NOI $172,478 @ 7.0% cap · market cap 9.58%
Second Best
Warehouse
$2.08M
$1.82M – $2.42M
NOI $145,279 @ 7.0% cap · market cap 8.07%
Theoretical Best
Office A
$5.59M
$4.89M – $6.52M
NOI $391,187 @ 7.0% cap · market cap 21.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
487
Businesses Nearby
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
Frequently Asked Questions
What type of property is this?
Self storage facility - Drive-up inventory spans three unit sizes and accommodates residential and commercial customers.
Where is this self storage facility located?
The property is located at 810 Thomas Drive Panama City, FL.
What is the asking price?
The asking price for this property is $1,799,999.
What are key features of this property?
This property features: 189 drive‑up storage units across two facilities; Approximately 19,180 combined gross square feet on 1.08 acres; Unit mix includes 5×10, 10×10, and 10×20 configurations
