Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7139 Grassy Pt Rd Southport, FL 32409-1401

    • Manufacturing properties
    • 17,800 SF
    • 9.02 lot acres
    OFF-MARKET
    Value Estimations
    $1,310,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3329465
    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

    • Manufacturing properties

    Property Details for 7139 Grassy Pt Rd

    Year built
    2005
    Construction
    STEEL FRAME
    Lot size
    9.02 lot acres
    Property size
    17,800 SF
    Zone code
    BC13
    Property type
    Manufacturing properties
    APN
    08026-020-000
    APU
    8026020000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,955,000
      6.5%
      $1,805,000
      7%
      $1,675,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,316,000
      Market price range: $1.05M - $2.27M
      AI Estimate
      $815,000
      Market price range: $361k - $1.58M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,395,000
      Current use
      MEDICAL BUILDING
      $2,115,000
      Change: +51% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,390,000
      Change: -1% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Southport
    County
    Bay
    State
    Florida
    Longitude
    -85.6384
    Latitude
    30.2806
    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
    $9,154
    $412,587
    $302,413
    $715,000
    -
    $412,587
    $302,413
    $715,000

    Comparable in this City

    • Value Estimation
      $8,775,000
      178,289 SF

      Venture Xing Blvd

      HEAVY MANUFACTURING • 178,289 SF
      Venture Xing Blvd, Southport, FL 32409
      View Details
    • Value Estimation by Request
      5,104 SF

      3928 Cedar Blf Rd

      MANUFACTURING (LIGHT) • 5,104 SF
      3928 Cedar Blf Rd, Southport, FL 32409-4401
      View Details
    • Value Estimation by Request
      3,216 SF

      1924 Fulton St

      MANUFACTURING (LIGHT) • 3,216 SF
      1924 Fulton St, Southport, FL 32409-2178
      View Details
    • Value Estimation
      $15,940,000
      150,459 SF

      6051 Venture Crossings Blvd

      HEAVY MANUFACTURING • 150,459 SF
      6051 Venture Crossings Blvd, Southport, FL 32409-1165
      View Details
    • Value Estimation
      $650,000
      6,250 SF

      6998 Hwy 77

      MANUFACTURING (LIGHT) • 6,250 SF
      6998 Hwy 77, Southport, FL 32409-1571
      View Details
    • Value Estimation
      $890,000
      3,000 SF

      1725 Buchanan St

      MANUFACTURING (LIGHT) • 3,000 SF
      1725 Buchanan St, Southport, FL 32409-1482
      View Details

    Similar Nearby for Sale

    • $975,000

      12 Acres on Highway 77

      12 acres with stream, highway frontage, and commercial potential.
      11802 Highway 77, Southport, FL 32409
      View Details
    • $265,000
      10.34 Acres

      Southport, FL Land Opportunity

      10+ acres perfect for a spacious homestead.
      1533 Highway 388 E, Southport, FL 32409
      View Details
    • $110,000
      0.14 Acres

      Waterfront Land in Panama City

      Canal-front property with direct Bay and Gulf access.
      6420 Marvin Ln, Panama City, FL 32409
      View Details
    • $145,000
      0.27 Acres

      Water Access Canal Lot

      Vacant canal-front lot with quick access to North Bay.
      6416 Marvin Ln, Panama City, FL 32409
      View Details
    • $450,000
      34.00 Acres

      Southport, FL Commercial Land Parcel

      34-acre commercial land parcel with highway frontage in Southport, FL.
      6860 Highway 77, Southport, FL 32409
      View Details
    • $1,250,000

      Fanning Bayou Waterfront Commercial Land

      Commercial land with waterfront access and highway visibility.
      2026 Fulton St, Southport, FL 32409
      View Details

    Similar Nearby for Lease

    • $1,600 /Mo
      6,130 SF

      Southport Commercial Office and Warehouse

      Commercial office and warehouse space available for lease in Southport.
      2824 Highway 2321, Southport, FL 32409
      View Details
    • $5,000 /Mo
      6,130 SF

      Commercial Property with Office & Warehouse

      Versatile commercial property featuring office space and warehouse.
      2824 Highway 2321, Southport, FL 32409
      View Details
    • $3,000 /Mo
      6,130 SF

      Warehouse with Office Space Available

      Versatile commercial property with warehouse and office space for lease.
      2824 Highway 2321, Panama City, FL 32409
      View Details
    • $5,000 /Mo
      4,814 SF

      Versatile Commercial Building on Highway 77

      4,800 SF steel building on 1.24 acres with frontage.
      13919 Highway 77, Panama City, FL 32409
      View Details
    • $3,000 /Mo
      1,416 SF

      Southport, FL Commercial Property

      Commercial property on 3.5 acres, suitable for office and storage.
      13636 Highway 77, Southport, FL 32409
      View Details
    • Contact for pricing
      1,550 SF

      Former Gym Available For Lease

      4,400 SF former gym space, divisible into two suites.
      2423-2499 Highway 77, Panama City, FL 32409
      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.
    7139 Grassy Pt Rd
    Southport, FL 32409-1401
    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.
    Sign Up Successful!
    You now have access to more from Realmo!