Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,635,000
Drive through restaurants
1020 23rd St Panama City, FL 32405-5329
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-7320331
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
2019
Construction
WOOD
Total area
3,246 SF
Lot
1.35 ac (58,748 SF)
Zoning code
PC09
APN
14404-000-000
UPID
US18-7320331
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
-
Krispy Kreme Bakery Discount Store
-
Trulieve Panama City Dispensary (Bike/Boat/Book/etc) Store
-
Trulieve Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.51M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.26M
Blend (final)
Blend
$1.64M
Owner & transaction history
Ns Stugotz LLC · 2 yrs held
Ns Stugotz LLC
since 2023
Last sale
$1.9M
7 recorded transactions
Zoning & alternative use
PC09 · Panama City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.6M
+98.2%
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
$1,620,000
ML approach
$1,510,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$1,560,000
Change: +98% · Conversion: Difficult
Blend value · Realmo final
$1.64M
Range $1.47M – $1.80M · ±10% · vs last sale $1.90M (Dec 29 2023)
Last sale anchor
$1.90M
Dec 29 2023
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
$504 / 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
$26,006
Tax year 2023
Assessed value
$1,750,952
Assessed 2023
Previous assessed
$1,393,216
+25.7% YoY
Effective rate
1.49%
On assessed value
Assessed land
$1,174,960
Assessed improvement
$575,992
Land market value
$1,174,960
Improvement market value
$575,992
Total market value
$1,750,952
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
2019
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Rooms
4
Total area
3,246 SF
Lot
1.35 ac (58,748 SF)
Zoning code
PC09
APN
14404-000-000
UPID
US18-7320331
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
AUTO REPAIR, GARAGE
Est. value
$1.6M
AUTO REPAIR, GARAGE
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
2019
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Rooms
4
Lot
1.35 ac
Current owner
From public records · entity-resolved
Ns Stugotz LLC
Entity
Free & Clear · 2 yrs held
Mailing address
20900 NE 30TH AVE STE #307, AVENTURA, FL 33180-2163
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 2023
$1,900,000
Ns Stugotz LLC
Kkmd Properties LLC
Special Warranty Deed
—
Sep 17, 2019
$2,850,000
Kkmd Properties LLC
Compass Restaurant Holdings LLC
Special Warranty Deed
$1,000,000 · Wauchula State Bank
Aug 16, 2019
—
City Of Panama City
Compass Restaurant Hldgs LLC
Grant Deed
—
Sep 28, 2018
—
Compass Restalrant Hldgs LLC
Pcre Holdings LLC
Grant Deed
related
—
Aug 16, 2018
—
Pcre Two LLC
Pcre Holdings LLC
Quit Claim Deed
related
—
Jul 28, 2016
—
Pcre Holdings LLC
Gs Hospitality-panama City Res
Warranty Deed
$170,000 · Melony D Hosford
Mar 20, 2006
—
Gs Hospitality-panama City Res
Sapp,gerald L
Quit Claim Deed
related
$650,000 · Vanguard Bank & Trust Co
Nov 10, 2005
—
Panama City Hospitality Group
Gs Hospitality-panama City Res
Quit Claim Deed
$9,485,000 · Specialty Finance Group LLC
Mar 11, 2005
—
Gs Hospitality Restaurant-pana
Sapp,gerald L
Quit Claim Deed
related
—
Jun 23, 2004
$1,600,000
Gerald L Sapp
Treadwell Hampton LP
Grant Deed
$1,200,000 · Branch Banking & Trust Co
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1020 23rd St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
