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Property profile & analytics
OFF-MARKET
Estimated value
$550,000
Office Spaces
1001 Sherman Ave Panama City, FL 32401-7004
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US18-6168308
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2011
Construction
WOOD
Total area
3,479 SF
Lot
3.46 ac (150,587 SF)
Zoning code
PC09
APN
16384-100-000
UPID
US18-6168308
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
Current use
Occupant on record · Public records
-
Panama Commons Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$550k
CAP Approach
CAP
$540k
Comparable Approach
Comparable
$539k
Blend (final)
Blend
$550k
Owner & transaction history
Panama Commons LP
Panama Commons LP
1 recorded transaction
Zoning & alternative use
PC09 · Panama City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$745,000
+135.9%
Medical building
$415,000
+31.2%
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 submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Panama City 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
$550,000
CAP Approach
CAP Return
Estimation
6%
$585,000
6.5%
$540,000
7%
$505,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$745,000
Change: +136% · Conversion: Easy
MEDICAL BUILDING
$415,000
Change: +31% · Conversion: Easy
Blend value · Realmo final
$550k
Range $495k – $605k · ±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
$158 / 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
$59,969
Tax year 2023
Assessed value
$3,442,105
Assessed 2023
Previous assessed
$3,442,105
+0.0% YoY
Effective rate
1.74%
On assessed value
Assessed land
$207,420
Assessed improvement
$3,234,685
Land market value
$207,420
Improvement market value
$3,234,685
Total market value
$3,442,105
Applied tax rate
16.0000
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
2011
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
9
Stories
1
Units
97
Rooms
5
Bathrooms
32
Total area
3,479 SF
Lot
3.46 ac (150,587 SF)
Zoning code
PC09
APN
16384-100-000
UPID
US18-6168308
Jurisdiction
BAY
Zoning & alternative use
PC09 · Panama City, FL
Zoning PC09 · permitted uses
PC09 · Panama City, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Panama City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$745,000
MEDICAL BUILDING
Est. value
$415,000
OFFICE BUILDING
MEDICAL 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
2011
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
9
Units
97
Rooms
5
Bathrooms
32
Lot
3.46 ac
Current owner
From public records · entity-resolved
Panama Commons LP
Entity
Mailing address
2730 CUMBERLAND BLVD SE, SMYRNA, GA 30080-3048
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Panama Commons LP
—
Deed Of Trust
related
$1,987,600 · Housing & Cmnty Dev Dept
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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