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Property profile & analytics
OFF-MARKET
Estimated value
$1,700,000
Banks
1022 23rd St, Panama City, FL 32405-3608
Individually Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-5994676
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2000
Construction
STEEL FRAME
Total area
86,803 SF
Lot
2.28 ac (99,099 SF)
Zoning code
PC09
APN
13209-041-000
UPID
US18-5994676
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
-
Melting Pot Asphalt Building Supply Construction Company
-
1-800 Office Solutions Big Box & Wholesale Store
-
Nanette Hitchcock Consultant
-
McCalla Raymer, LLC Law Firm
-
Edificio Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.22M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.18M
Blend (final)
Blend
$1.70M
Owner & transaction history
John Lee · 5 yrs held
John Lee
since 2020
4 recorded transactions
Zoning & alternative use
PC09 · Panama City, 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 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
$1,220,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.70M
Range $1.53M – $1.87M · ±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
$20 / 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
$131,662
Tax year 2023
Assessed value
$7,577,624
Assessed 2023
Previous assessed
$7,705,337
-1.7% YoY
Effective rate
1.74%
On assessed value
Assessed land
$1,137,500
Assessed improvement
$6,440,124
Land market value
$1,137,500
Improvement market value
$6,440,124
Total market value
$7,577,624
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
2000
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
8
Rooms
60
Total area
86,803 SF
Lot
2.28 ac (99,099 SF)
Zoning code
PC09
APN
13209-041-000
UPID
US18-5994676
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.
Building & site characteristics
From public records
Year built
2000
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
8
Buildings
2
Rooms
60
Lot
2.28 ac
Current owner
From public records · entity-resolved
John Lee
Individual
Free & Clear · 5 yrs held
Mailing address
1002 W 23RD ST STE #400, PANAMA CITY, FL 32405-3648
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 19, 2020
$6,000
John Lee
Royal American Real Estate INC
Quit Claim Deed
related
—
Dec 21, 2016
$6,550,000
Panama City Finl Center LLC
Whitney Bk
Grant Deed
related
—
May 22, 1998
$675,000
Peoples First Community Bank
23rd At Stanford Investors Lt
Grant Deed
related
—
Jan 12, 1998
$350,000
Stanford Investors Phase Lt II
Webb,murray M & Theresa H
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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