Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1143 15th St Panama City, FL 32405-6103
    Back to Search
    Property profile & analytics

    1143 15th St Panama City, FL 32405-6103

    View on Map
    • Manufacturing properties
    • 18,700 SF
    • 2.06 lot acres
    Off-Market
    Last Sale May 19, 2020
    $925,000
    Property ID
    US19-0842778
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $930,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Glasstream Power Boats / Corporate Office

    Property Details for 1143 15th St

    Year built
    1960
    Construction
    STEEL FRAME
    Lot size
    2.06 lot acres
    Property size
    18,700 SF
    Zone code
    PC11
    Property type
    Manufacturing properties
    APN
    14447-000-000
    APU
    14447000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $920,000
      ML approach
      $950,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,099,000
      Market price range: $1.10M - $2.39M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,470,000
      Current use
      WAREHOUSE, STORAGE
      $1,220,000
      Change: -17% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Bay
    State
    Florida
    Longitude
    -85.6442
    Latitude
    30.1758
    CBSA code
    37460
    CBSA name
    PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $4,297
    $134,030
    $111,712
    $245,742
    -
    $134,030
    $111,712
    $245,742

    Comparable in this City

    • Value Estimation
      $5,510,000
      107,890 SF

      909 39th St

      MANUFACTURING (LIGHT) • 107,890 SF
      909 39th St, Panama City, FL 32405-4841
      View Details
    • Value Estimation
      $2,625,000
      24,240 SF

      3615 Calhoun Ave

      MANUFACTURING (LIGHT) • 24,240 SF
      3615 Calhoun Ave, Panama City, FL 32405-1906
      View Details
    • Value Estimation by Request
      960 SF

      4034 23rd Ct

      MANUFACTURING (LIGHT) • 960 SF
      4034 23rd Ct, Panama City, FL 32405-1340
      View Details
    • Value Estimation
      $775,000
      15,080 SF

      2304 Grant Ave, Unit 106

      MANUFACTURING (LIGHT) • 15,080 SF
      2304 Grant Ave, Panama City, FL 32405-1359
      View Details
    • Value Estimation
      $1,685,000
      30,300 SF

      400 Aberdeen Loop

      MANUFACTURING (LIGHT) • 30,300 SF
      400 Aberdeen Loop, Panama City, FL 32405-6414
      View Details
    • Value Estimation
      $640,000
      12,706 SF

      2808 Ave

      MANUFACTURING (LIGHT) • 12,706 SF
      2808 Ave, Panama City, FL 32405-7087
      View Details

    Similar Nearby for Sale

    • $799,000
      4,300 SF

      Versatile Warehouse with Rental Income

      4,300 SF warehouse with rental opportunity in Panama City.
      1509 Hickory Ave, Panama City, FL 32405
      View Details
    • Contact for pricing

      Office Space in Industrial Park

      Office space in Lynn Haven Industrial Park, ready for customization.
      700 Aberdeen Loop, Panama City, FL 32405
      View Details
    • $2,495,000
      7,200 SF

      Highway 77 Commercial Property

      4.2-acre property with retail buildings and redevelopment potential.
      3407 Highway 77 S, Panama City, FL 32405
      View Details
    • $550,000

      Prime Land in Developing Area

      Four acres suitable for storage, retail, or laundry facility.
      1729 Florida Ave, Panama City, FL 32405
      View Details
    • $3,490,000
      16,600 SF

      Panama City Warehouse with Office

      16,600 sqft commercial warehouse with office space for sale.
      2816 Forester Trl, Panama City, FL 32405
      View Details
    • $1,300,000
      3,600 SF

      Highway 77 Retail Property

      2.1-acre property with retail building and highway frontage.
      3407 Highway 77 S, Panama City, FL 32405
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      107,890 SF

      Renovated Warehouse/Distribution/Manufacturing Space

      Recently renovated warehouse/distribution/light manufacturing space available for lease.
      909 West 39Th St, Panama City, FL 32405
      View Details
    • $1,250 /Mo
      980 SF

      Warehouse Space with Roll-Up Doors

      980 sqft warehouse space featuring new roll-up bay doors.
      2324 N East Ave, Panama City, FL 32405
      View Details
    • $10 SF/Yr
      6,820 SF

      Industrial Space Near SweetBay Community

      Industrial property for lease near growing SweetBay master-planned community.
      3006 Lisenby Ave, Panama City, FL 32405
      View Details
    • $8 SF/Yr
      107,890 SF

      Panama City Industrial Space

      Large warehouse, ideal for distribution.
      909 W 39th St, Panama City, FL 32405
      View Details
    • $52,200
      6,438 SF

      Panama City Commercial Space Available

      Versatile 6,438 sqft commercial space for rent in Panama City.
      1833 N East Ave, Panama City, FL 32405
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1143 15th St
    Panama City, FL 32405-6103
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1143 15th St, Panama City, FL, 32405
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!