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    271 N Star Ave Panama City, FL 32404
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    Property profile & analytics

    271 N Star Ave, Panama City, FL 32404

    View on Map
    • Warehouses
    • 12,000 SF
    • 1.36 lot acres
    For Lease
    $1,800/Mo
    View Listing →
    New Flex Space Near Airbase For Lease
    $1,800/Mo
    12,000 SF

    New Flex Space Near Airbase

    Recently constructed flex space near Tyndall Air Force Base available for rent.

    271 N Star Avenue, Panama City, FL 32404
    View Listing
    Property ID
    US18-4729045
    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
    $1,250,000
    Cap Rate Potential
    7.9%
    Warehouses
    Location Intelligence

    Current Use by Public Records

    • Ardamas Fleet Services / Auto Repair Shop
    • Apex Power Pros / Electrical Service / General Contractor
    • PDR Mobile Auto Dent Removal & Paint / Auto Repair Shop
    • Humble House Thrift Store: Furniture and More / Discount Store

    Property Details for 271 N Star Ave

    Year built
    2022
    Construction
    STEEL FRAME
    Lot size
    1.36 lot acres
    Property type
    Warehouses
    APN
    06463-030-000
    APU
    6463030000

    Description

    This newly constructed, single-tenant warehouse, totaling 1,500 square feet, offers a prime location just minutes from Tyndall Air Force Base, with easy access to Highway 231. The unit boasts a 14-foot high by 12-foot wide overhead door, enhancing ease of loading and unloading. For added convenience and ventilation, the property includes personnel doors at both the front and rear. Private restrooms are included within the unit for employee use. The warehouse features a 17-foot clear ceiling height, providing ample vertical space for storage or operations. Individual electric meters allow for precise cost control. Tenants are responsible for their pro-rata share of common area utilities. The property is part of a larger complex, offering the potential for expansion or synergy with other businesses in the area. This is an excellent opportunity for businesses seeking efficient, well-located industrial space near Tyndall Air Force Base. The property is identified by APN 06463-030-000. The lot size is not specified. The building is a single-story structure.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,150,000
      ML approach
      $1,010,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,515,000
      6.5%
      $1,400,000
      7%
      $1,300,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $935,000
      Current use
      RETAIL STORES
      $1,725,000
      Change: +84% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,710,000
      Change: +83% Conversion: Difficult
      MEDICAL BUILDING
      $1,425,000
      Change: +52% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $940,000
      Change: +1% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Bay
    State
    Florida
    Longitude
    -85.5665
    Latitude
    30.1518
    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
    $8,429
    $166,788
    $439,926
    $606,714
    -
    $166,788
    $439,926
    $606,714

    Comparable in this City

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    • Value Estimation
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      206,339 SF

      721 Tyndall Pkwy

      WAREHOUSE, STORAGE
      721 Tyndall Pkwy, Panama City, FL 32404-3219
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      11241 Veal Rd

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    • Value Estimation
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      23,400 SF

      7327 Hwy 231

      MINI-WAREHOUSE, STORAGE
      7327 Hwy 231, Panama City, FL 32404-4420
      View Details
    • Value Estimation
      $5,205,000
      30,024 SF

      Panama City, FL 32404

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      View Details
    • Value Estimation
      $3,385,000
      36,316 SF

      13300 Allanton Rd

      WAREHOUSE, STORAGE
      13300 Allanton Rd, Panama City, FL 32404-2816
      View Details

    Similar Nearby for Sale

    • $1,500,000

      Commercial Land on Tyndall Parkway

      2.12 acres with warehouse and garage near Tyndall AFB.
      535 N Tyndall Pkwy, Panama City, FL 32404
      View Details
    • $240,000
      Pending

      Mixed-Use Corner Lot Opportunity

      Mixed-use corner lot with office, storage, and development potential.
      1206 Bob Little Rd, Panama City, FL 32404
      View Details
    • $240,000
      1,072 SF

      Mixed-Use Corner Lot Opportunity

      Mixed-use corner lot with office, storage, and slab.
      1206 Bob Little Rd, Panama City, FL 32404
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    • Contact for pricing

      Commercial Land on Highway 22

      2.68 acres of commercial land with high visibility.
      5412 Highway 22 E, Panama City, FL 32404
      View Details
    • $1,500,000
      2.12 Acres

      Commercial Land with Metal Warehouse

      Improved commercial land featuring a metal warehouse and garage.
      535 N Tyndall Pkwy, Panama City, FL 32404
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    • Contact for pricing

      Industrial Property Near Panama City Port

      33,000 SF industrial property with easy highway access.
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    Similar Nearby for Lease

    • Contact for pricing

      Panama City Industrial Warehouse Space

      18,000 SF industrial warehouse with office and laydown yard.
      2325 Transmitter Rd, Panama City, FL 32404
      View Details
    • $1,800 /Mo
      12,000 SF

      New Flex Space Near Airbase

      Recently constructed flex space near Tyndall Air Force Base available for rent.
      271 N Star Ave, Panama City, FL 32404
      View Details
    • Contact for pricing
      13,200 SF

      Prime Warehouse Pre-Leasing Opportunity

      Warehouse space available near major distribution center and retail.
      4335 Highway 231 N, Panama City, FL 32404
      View Details
    • $12 SF/Yr
      51,876 SF

      Retail Center in Panama City

      52,000 SF retail center, opening Spring 2027.
      133 S Tyndall Pkwy, Panama City, FL 32404
      View Details
    • $8 SF/Yr
      21,184 SF

      Panama City Commercial Space

      21,184 sq ft, Mixed-Use Potential
      5420 Hickory St, Panama City, FL 32404
      View Details
    • Contact for pricing

      Class B Office Building

      16,000 SF office building for sale or lease.
      210 North Tyndall Pkwy, Panama City, FL 32404
      View Details
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    271 N Star Ave
    Panama City, FL 32404
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    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.

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