Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2606 Airport Rd Panama City, FL 32405-2826

    • Warehouses
    • 10,332 SF
    • 1.23 lot acres
    OFF-MARKET
    Last Sale
    Apr 28, 2021
    $700,000
    Value Estimations
    $650,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4000425
    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.

    Current Use by Public Records

    • Core & Main / Water Works Equipment Supplier / Distribution Service

    Property Details for 2606 Airport Rd

    Year built
    1973
    Construction
    STEEL FRAME
    Lot size
    1.23 lot acres
    Property size
    10,332 SF
    Zone code
    BC05
    Property type
    Warehouses
    APN
    13155-000-000
    APU
    13155000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $505,000
      ML approach
      $490,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $876,000
      Market price range: $291k - $1.08M
      AI Estimate
      $624,000
      Market price range: $230k - $708k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $675,000
      Current use
      INDUSTRIAL (GENERAL)
      $810,000
      Change: +21% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Bay
    State
    Florida
    Longitude
    -85.6868
    Latitude
    30.1955
    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
    $8,346
    $427,680
    $222,803
    $650,483
    -
    $427,680
    $222,803
    $650,483

    Comparable in this City

    • Value Estimation by Request
      1,600 SF

      4127 Hwy 389

      WAREHOUSE, STORAGE • 1,600 SF
      4127 Hwy 389, Panama City, FL 32405-6401
      View Details
    • Value Estimation
      $8,595,000
      148,581 SF

      1707 23rd St

      WAREHOUSE, STORAGE • 148,581 SF
      1707 23rd St, Panama City, FL 32405-2916
      View Details
    • Value Estimation by Request
      6,000 SF

      127 34th Ct

      WAREHOUSE, STORAGE • 6,000 SF
      127 34th Ct, Panama City, FL 32405-4395
      View Details
    • Value Estimation by Request
      2,400 SF

      2726 Frankford Ave

      WAREHOUSE, STORAGE • 2,400 SF
      2726 Frankford Ave, Panama City, FL 32405-2830
      View Details
    • Value Estimation by Request
      3,000 SF

      1519 Degama Ave

      WAREHOUSE, STORAGE • 3,000 SF
      1519 Degama Ave, Panama City, FL 32405-3700
      View Details
    • Value Estimation by Request
      6,403 SF

      1505 Drake Ave

      WAREHOUSE, STORAGE • 6,403 SF
      1505 Drake Ave, Panama City, FL 32405
      View Details

    Similar Nearby for Sale

    • $1,650,000

      9.08 Acre Commercial Development Opportunity

      9.08 acre parcel zoned GC-2, ideal for various commercial uses.
      1200 W 19Th St, Panama City, FL 32405
      View Details
    • $1,825,000
      4.50 Acres

      Panama City Land Opportunity

      4.5 acre commercial property with flexible zoning.
      2515 E 15Th St, Panama City, FL 32405
      View Details
    • $2,000,000
      15,000 SF

      Panama City Warehouse - $2M

      15,000 sq ft Warehouse, Prime Location
      2304 Grant Ave, Panama City, FL 32405
      View Details
    • $1,300,000
      3,600 SF

      Retail Building on Highway 77

      2.1 acre property with retail building and warehouse storage.
      3407 Highway 77 S, Panama City, FL 32405
      View Details
    • $699,000
      2.34 Acres

      Prime Panama City Commercial Land

      2.34-Acre Corner Lot, $699,000
      1904 Lisenby Ave, Panama City, FL 32405
      View Details
    • $6,550,000
      101,235 SF

      Multi-Location Self-Storage and Industrial Portfolio

      Portfolio in Panama City, FL and Hattiesburg, MS totaling 101,235 SF.
      2726 15Th St, Panama City, FL 32405
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      3,000 SF

      Panama City Warehouse For Sale

      3,000 SF Warehouse, Highway 390 Frontage
      3825 Highway 390, Panama City, FL 32405
      View Details
    • $13 SF/Yr
      7,200 SF

      Panama City Flex Warehouse

      7,200 SF flex warehouse in Panama City for lease.
      1117 Saint Andrews Blvd, Panama City, FL 32405
      View Details
    • $0.18 SF/Yr
      480 SF

      Canal Avenue Warehouse Space

      Affordable Industrial Warehouse Units
      2629 Canal Ave, Panama City, FL 32405
      View Details
    • $5,000 /Mo

      Versatile Office and Warehouse Space

      Versatile office and warehouse space in an ideal location.
      1337 W 19Th St, Panama City, FL 32405
      View Details
    • $13 SF/Yr

      Flex Warehouse in Panama City

      7,200 SF flex warehouse with remodeled office space.
      1117 St Andrews Blvd, 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
    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.
    2606 Airport Rd
    Panama City, FL 32405-2826
    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

    Google sign-in failed. Please try again or use another login method.