2550 Sherman Avenue, Panama City, FL 32405
New Listing
$9,980,769
Property Type:
Commercial for Sale
Square Footage:
60,000
Lot Size (sq. ft.):
323,215
Status:
Active
Current Price:
$9,980,769
List Date:
10/16/2026
Last Modified:
10/16/2026
Listing Details MLS# 796665
Contract Info
- List Price/SqFt
- 166.35
- Sub-Type
- Industrial
Location
- Area
- 02 – Bay County – Central
- Street #
- 2550
- Street Name
- Sherman
- Street Suffix
- Avenue
- State
- FL
- Zip Code
- 32405
- County
- Bay
- Sub Area
- 0202 – Bay – Central SE
- Subdivision
- Highland City
- Community/Resort
- None
- Waterfront
- No
- Parcel ID
- 12697-000-000
- Elementary School
- Cedar Grove
- Middle School
- Merritt Brown
- High School
- Bay
- Directions
- From Hwy 231, turn south onto East Avenue. Follow East Ave to the Sherman Ave intersection and take right. Property on your right
- Legal Description
- HIGHLAND CITY BEG NW COR L-15 TH W 259.49' S 496.43' E 524.84' NE 137.34' SE 127' NE 415.82' N 57.2' W 630.6' TO POB. (8.87 AC M/L) ORB 849 P 656, ORB 936 P 424, ORB 1023 P 161 (15.1) BLK 32 ORB 1200 P 115
General Property Info
- List Class
- Industrial
- Construction Status
- Construction Complete
- Acreage
- 7.42
- SqFt Tot Bldg
- 60000
- Year Built
- 1982
- Ceiling Height
- 2026
Business Only
- Building SqFt
- 60000
- Cap Rate
- 6.01
- Net Operating Income
- 600000
Industrial
- # Ground Level Doors
- 5
- # Dock High Doors
- 8
More Information
Listing Info, Tax and Legal
- HOA Fee
- No
Remarks & Misc
- Remarks
- NAI TALCOR and JH Berry are pleased to exclusively represent this Net Lease Industrial Investment asset in the Northwest Florida market of Panama City, FL. The asset is anchored by a long-term sale-leaseback structure paired with a value-add component providing a veritable riskless return expansion opportunity in one of the fastest growing markets in the country. The Seller, Buffalo Rock Company, has been operating in the Panama City market since 1986 and just completed upgrading and modernizing this facility in 2026. Complementing BR's net lease is an adjacent move-in ready 10ksf warehouse facility that was previously utilized as a commercial kitchen supporting BR's coin-operated vending services. Now vacant, the space offers a hard-to-find capability carrying significant in-place improvements allowing a strong rental rate opportunity with very limited in-market competition. About the Tenant: Founded in Birmingham, Alabama in 1901, Buffalo Rock Company is one of the nation's largest privately held, family-owned beverage bottlers and distributors and the largest privately held, family-owned Pepsi and Keurig Dr Pepper bottler in the United States. The company operates an extensive production, warehousing, transportation and distribution network serving markets throughout Alabama, the Florida Panhandle and western Georgia. Buffalo Rock's operations encompass more than 1,300 beverage SKUs, approximately 2,400 fleet assets, more than 15,000 retail customers and over seven million consumers, with the company manufacturing and selling nearly one billion units annually. With more than 125 years of operating history, a diversified portfolio of nationally recognized beverage brands and significant investment in its distribution infrastructure, Buffalo Rock represents an established regional industrial tenant with substantial long-term logistics and facility requirements.
Sale Type
- As Is
- Yes
Floors in Unit/Home
- One
- Yes
Offering Type
- Real Estate
- Yes
- Sale with Lease
- Yes
Property Features
Offering Type:
Real Estate; Sale with Lease
Sale Type:
As Is
Listing Office:
NAI TALCOR
Last Updated: October – 16 – 2026
Information deemed reliable but not guaranteed.