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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5015 Star Ave Panama City, FL 32404-8935

    • Warehouses
    • 45,825 SF
    • 4.58 lot acres
    OFF-MARKET
    Last Sale
    Jan 03, 2022
    $8,300,000
    Value Estimations
    $6,375,000
    Show details
    Cap Rate Potential
    5.1%
    Warehouses
    Location Intelligence
    Property ID
    US18-5654694
    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

    • Storage King USA / Self-Storage Facility / Storage Facility

    Property Details for 5015 Star Ave

    Year built
    2021
    Construction
    STEEL FRAME
    Lot size
    4.58 lot acres
    Property size
    45,825 SF
    Property type
    Warehouses
    APN
    05839-000-015
    APU
    5839000015

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,840,000
      ML approach
      $8,180,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,785,000
      6.5%
      $5,340,000
      7%
      $4,960,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,198,000
      Market price range: $1.64M - $6.20M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $11,100,000
      OFFICE BUILDING
      $9,780,000
      RETAIL STORES
      $6,590,000
      COMMERCIAL (GENERAL)
      $6,535,000
      MEDICAL BUILDING
      $5,440,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Bay
    State
    Florida
    Longitude
    -85.5581
    Latitude
    30.2396
    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
    $95,312
    $915,800
    $6,695,363
    $7,611,163
    -
    $915,800
    $6,695,363
    $7,611,163

    Comparable in this City

    • Value Estimation
      $1,045,000
      100,320 SF

      7701 Commerce Blvd Bldg C

      WAREHOUSE, STORAGE • 100,320 SF
      7701 Commerce Blvd Bldg C, Panama City, FL 32404-4326
      View Details
    • Value Estimation
      $1,265,000
      20,400 SF

      13300 Allanton Rd

      WAREHOUSE, STORAGE • 20,400 SF
      13300 Allanton Rd, Panama City, FL 32404-2816
      View Details
    • Value Estimation
      $210,000
      1,584 SF

      5321 Hwy 98

      WAREHOUSE, STORAGE • 1,584 SF
      5321 Hwy 98, Panama City, FL 32404
      View Details
    • Value Estimation
      $300,000
      3,120 SF

      4833 Hwy 98

      WAREHOUSE, STORAGE • 3,120 SF
      4833 Hwy 98, Panama City, FL 32404-7019
      View Details
    • Value Estimation
      $775,000
      27,400 SF

      5701 Boat Race Rd

      MINI-WAREHOUSE, STORAGE • 27,400 SF
      5701 Boat Race Rd, Panama City, FL 32404-7232
      View Details
    • Value Estimation
      $1,660,000
      23,900 SF

      633 Tyndall Pkwy

      MINI-WAREHOUSE, STORAGE • 23,900 SF
      633 Tyndall Pkwy, Panama City, FL 32404-6927
      View Details

    Similar Nearby for Sale

    • New
      $240,000
      0.84 Acres

      Mixed-Use Corner Lot Opportunity

      Mixed-use corner lot with office, storage, and expansion potential.
      1206 E Bob Little Rd, Panama City, FL 32404
      View Details
    • Contact for pricing
      33,000 SF

      Industrial Property Near Panama City Port

      33,000 SF industrial property with easy highway access.
      6513 Bayline Dr, 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
      View Details
    • $295,000
      0.77 Acres

      Multi-Use Property on High-Traffic Corner

      Versatile property with shop and residence in high-visibility location.
      5825 Titus Rd, Panama City, FL 32404
      View Details
    • $900,000
      80.00 Acres

      Hwy 231 Prime Development Land

      80 Acres, US Hwy 231 Frontage, Panama City
      0 Highway 231, Panama City, FL 32404
      View Details
    • $1,920,000
      16,000 SF

      Efficient Flex Space For Sale

      16,000 SF flex space with efficient, rectangular floor plan.
      210 N Tyndall Pkwy, Panama City, FL 32404
      View Details

    Similar Nearby for Lease

    • $1,980,000
      18,000 SF

      Modern Industrial Warehouse with Yard

      18,000 SF industrial warehouse with office and laydown yard.
      2325 Transmitter Rd, Panama City, FL 32404
      View Details
    • $15 SF/Yr
      1,500 SF

      Star Avenue Warehouse Space

      1500 sq ft Industrial Warehouse
      271 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
    • $1,825 /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
    • $16 SF/Yr

      Warehouse and Office Space Available

      Warehouse and office space for lease in Panama City, FL.
      1220 Transmitter Rd, Panama City, FL 32404
      View Details
    • $10 SF/Yr
      3,000 SF

      Versatile Commercial Space For Lease

      3,000 SF commercial space ideal for various business uses.
      5907 Highway 22 E, Panama City, FL 32404
      View Details
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    5015 Star Ave
    Panama City, FL 32404-8935
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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.

    More about this property
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