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Property profile & analytics
OFF-MARKET
Estimated value
$8,860,000
Office Spaces
200 Richard Jackson Blvd Panama City Beach, FL 32407-2565
Trust Owned
1-yr Hold
Free & Clear
Property ID
US18-2847036
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2001
Construction
STEEL FRAME
Total area
57,180 SF
Lot
8.3 ac (361,417 SF)
Zoning code
PCB03
APN
34034-006-000
UPID
US18-2847036
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.91M
Comparable Approach
Comparable
$11.11M
Blend (final)
Blend
$8.86M
Owner & transaction history
The Mick Vorbeck Revocable Trust · 1 yrs held
The Mick Vorbeck Revocable Trust
since 2025
2 recorded transactions
Zoning & alternative use
PCB03 · Panama City Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Panama City Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Panama City Beach submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$9,650,000
6.5%
$8,905,000
7%
$8,270,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$14,305,000
Current use
RESTAURANT
$13,850,000
Change: -3% · Conversion: Difficult
OFFICE BUILDING
$12,205,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$8.86M
Range $7.97M – $9.75M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$155 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$62,692
Tax year 2023
Assessed value
$5,160,499
Assessed 2023
Previous assessed
$5,201,658
-0.8% YoY
Effective rate
1.21%
On assessed value
Assessed land
$1,659,400
Assessed improvement
$3,501,099
Land market value
$1,659,400
Improvement market value
$3,501,099
Total market value
$5,160,499
Applied tax rate
13.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
2001
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
70
Total area
57,180 SF
Lot
8.3 ac (361,417 SF)
Zoning code
PCB03
APN
34034-006-000
UPID
US18-2847036
Jurisdiction
BAY
Zoning & alternative use
PCB03 · Panama City Beach, FL
Zoning PCB03 · permitted uses
PCB03 · Panama City Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Panama City Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$14.3M
RESTAURANT
Est. value
$13.9M
OFFICE BUILDING
Est. value
$12.2M
COMMERCIAL (GENERAL) Current
RESTAURANT
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2001
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
70
Lot
8.3 ac
Current owner
From public records · entity-resolved
The Mick Vorbeck Revocable Trust
Trust
Free & Clear · 1 yrs held
Mailing address
4470 NORTHGATE CT, SARASOTA, FL 34234-2121
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 13, 2025
—
The Mick Vorbeck Revocable Trust
Mick Vorbeck
Quitclaim Deed
related
—
Dec 20, 2002
$8,080,000
Mick Vorbeck
St Joe Co
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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