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Property profile & analytics
OFF-MARKET
Estimated value
$3,480,000
Warehouses
1029 Bluestem St Panama City, FL 32405-2973
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-3440155
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1969
Construction
STEEL FRAME
Total area
32,520 SF
Lot
465.36 ac (20,270,951 SF)
Zoning code
PC11 BC05
APN
11728-000-000
UPID
US18-3440155
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
$3.48M
CAP Approach
CAP
$3.79M
Comparable Approach
Comparable
$3.41M
Blend (final)
Blend
$3.48M
Owner & transaction history
Clayton Properties Group INC · 1 yrs held
Clayton Properties Group INC
since 2024
Last sale
$3.5M
7 recorded transactions
Zoning & alternative use
PC11 BC05 · Panama City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$5.0M
+137.2%
Commercial (general)
$4.7M
+123.8%
Medical building
$4.1M
+93.8%
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
$3,480,000
ML approach
$3,480,000
CAP Approach
CAP Return
Estimation
6%
$4,105,000
6.5%
$3,790,000
7%
$3,520,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,120,000
Current use
RETAIL STORES
$5,025,000
Change: +137% · Conversion: Moderate
COMMERCIAL (GENERAL)
$4,740,000
Change: +124% · Conversion: Difficult
MEDICAL BUILDING
$4,105,000
Change: +94% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,555,000
Change: +21% · Conversion: Easy
Blend value · Realmo final
$3.48M
Range $3.13M – $3.83M · ±10% · vs last sale $3.48M (Aug 22 2024)
Last sale anchor
$3.48M
Aug 22 2024
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
$107 / 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
$239,685
Tax year 2023
Assessed value
$15,034,350
Assessed 2023
Previous assessed
$15,034,350
+0.0% YoY
Effective rate
1.59%
On assessed value
Assessed land
$13,809,245
Assessed improvement
$1,225,105
Land market value
$13,809,245
Improvement market value
$1,225,105
Total market value
$15,034,350
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1969
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Buildings
5
Stories
1
Rooms
2
Bathrooms
2
Total area
32,520 SF
Lot
465.36 ac (20,270,951 SF)
Zoning code
PC11 BC05
APN
11728-000-000
UPID
US18-3440155
Jurisdiction
BAY
Zoning & alternative use
PC11 BC05 · Panama City, FL
Zoning PC11 BC05 · permitted uses
PC11 BC05 · 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
WAREHOUSE, STORAGE Current
Est. value
$2.1M
RETAIL STORES
Est. value
$5.0M
COMMERCIAL (GENERAL)
Est. value
$4.7M
MEDICAL BUILDING
Est. value
$4.1M
INDUSTRIAL (GENERAL)
Est. value
$2.6M
WAREHOUSE, STORAGE Current
RETAIL STORES
COMMERCIAL (GENERAL)
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
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
1969
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
5
Rooms
2
Bathrooms
2
Lot
465.36 ac
Current owner
From public records · entity-resolved
Clayton Properties Group INC
Entity
Free & Clear · 1 yrs held
Mailing address
3111 TIMBERLAKE RD #100, VESTAVIA, AL 35243-2311
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
19 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 22, 2024
$3,478,800
Clayton Properties Group INC
St Andrew Bay Land Company LLC
Special Warranty Deed
—
Apr 14, 2023
—
Academy Park Homes LLC
St Andrew Bay Land Company LLC
Special Warranty Deed
—
Jan 9, 2023
—
Ascend At Sweetbay LLC
St Andrew Bay Land Company LLC
Special Warranty Deed
—
Nov 28, 2022
—
Academy Park Homes LLC
Sweetbay Community Association INC
Quit Claim Deed
related
—
Oct 24, 2022
—
Academy Park Homes LLC
St Andrew Bay Land Company LLC
Quit Claim Deed
related
—
Oct 5, 2022
$495,100
Patrick E Beacom
Nwfl Land Holdings LLC
Special Warranty Deed
—
Sep 23, 2022
—
Sweetbay Towncenter Ph 1 LLC
St Andrew Bay Land Company LLC
Special Warranty Deed
—
Jul 12, 2021
—
Kenneth C Kerwin
Kenneth C Kerwin
Intrafamily Transfer
related
—
May 14, 2021
—
The Residences At Sweetbay LLC
St Andrew Bay Land Company LLC
Re-recorded Document
related
—
May 7, 2021
—
The Residences At Sweetbay LLC
St Andrew Bay Land Company LLC
Special Warranty Deed
—
Oct 29, 2020
—
Residences At Sweetbay LLC
St Andrew Bay Land Co LLC
Grant Deed
—
Sep 5, 2019
$5,166,714
Nwfl Land Holdings LLC
Academy Park Homes LLC
Grant Deed
—
Dec 20, 2018
—
Academy Park Homes LLC
St Andrew Bay Land Co LLC
Grant Deed
—
Dec 20, 2017
—
Academy Park Homes LLC
St Andrew Bay Land Company LLC
Warranty Deed
—
Jun 9, 2016
—
Academy Park Homes LLC
St Andrew Bay Land Co LLC
Grant Deed
—
Jul 27, 2015
—
Academy Park Homes LLC
St Andrew Bay Land Co LLC
Grant Deed
—
Feb 9, 2012
$51,400,000
St Andrew Bay Land Co LLC
Panama City-bay County Airport
Grant Deed
—
Jan 31, 2011
—
Panama City-bay County Airport
H4c LLC
Quit Claim Deed
related
—
—
—
William T Hinson
—
Deed Of Trust
related
$146,000 · Crossland Mortgage Corp
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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