(CBS) - Hurricane Dorian, which strengthened to a Category 4 storm, is packing maximum sustained winds of 140 mph with higher gusts. More than 20 million Americans could feel the storm's impact.
Preparations are under way to prepare for the massive storm. Hurricane conditions are expected in the Bahamas by Sunday. Storm surges there could raise water levels 15-feet above normal.
The storm is expected to make landfall late Monday or early Tuesday. In Florida, many are leaving nothing to chance, stocking up at gas stations and grocery stores. Georgia and North and South Carolina are also on high alert.
As of 8 a.m. EDT on Saturday, Dorian's center was some 280 miles east of the northwestern Bahamas and about 445 miles east of West Palm Beach, Florida, the National Hurricane Center said. The storm is moving west-northwest at about 12 mph.
Brevard County, located on Florida's east coast that includes Kennedy Space Center, has issued mandatory evacuation orders for some parts of the county. Shelter details are still being finalized.
Hurricane Dorian threatens roughly $150 billion in Florida real estate, including 668,000 homes, according to CoreLogic, which predicts disaster losses, and only about a third of those Floridians have flood insurance policies. The Miami area could sustain as much as $85 billion in losses if it takes a hit from Dorian.
As with all hurricanes, many variables come into play in assessing the risks. One is the "Bermuda High," a subtropical area of high atmospheric pressure that could push Dorian toward Miami, instead of its current target of Port St. Lucie. If Dorian grows stronger, it could even push on toward Cape Canaveral, Jacksonville and into Georgia or even North and South Carolina, according to CoreLogic meteorologist David Betten.
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