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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Turn key restaurants
105 23rd St Panama City, FL 32405-4501
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-2391035
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1994
Construction
WOOD
Total area
11,763 SF
Lot
3.63 ac (157,992 SF)
Zoning code
PC09
APN
12978-020-000
UPID
US18-2391035
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
-
Golden Corral Buffet & Grill Restaurant Buffet
-
Maharaja's Fine Jewelry & Gift (Bike/Boat/Book/etc) Store
-
Golden Corral Restaurant
-
Anytime Fitness Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$580k
Owner & transaction history
Florida Business Development Corpor · 2 yrs held
Florida Business Development Corpor
since 2024
7 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$49 / 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
$52,342
Tax year 2023
Assessed value
$3,297,470
Assessed 2023
Previous assessed
$3,297,470
+0.0% YoY
Effective rate
1.59%
On assessed value
Assessed land
$2,129,091
Assessed improvement
$1,168,379
Land market value
$2,129,091
Improvement market value
$1,168,379
Total market value
$3,297,470
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1994
Construction
WOOD
Heating
FORCED AIR
Cooling
OTHER
Stories
1
Rooms
3
Total area
11,763 SF
Lot
3.63 ac (157,992 SF)
Zoning code
PC09
APN
12978-020-000
UPID
US18-2391035
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
1994
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
3
Lot
3.63 ac
Current owner
From public records · entity-resolved
Florida Business Development Corpor
Entity
Free & Clear · 2 yrs held
Mailing address
1715 NW SHR BLVD STE #780, TAMPA, FL 33607-3932
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 18, 2024
—
Florida Business Development Corpor
Panama City Corral LLC
Assignment Of Lease (leasehold Sale)
—
Nov 8, 2023
—
Panama City Corral LLC
—
Deed
related
$1,741,000 · Community Bank Of Mississippi
Sep 1, 2021
$3,200,000
Panama City Corral LLC
Steel City Corral Properties LLC
Special Warranty Deed
$2,820,000 · Golden Bank NA
Aug 28, 2020
$15,400
Steel City Corral Properties
Mlb Inv Of Bay County LLC
Warranty Deed
—
Sep 11, 2009
$2,800,000
Mlb Investments Of Bay County LLC
Cnl Apf Partners LP
Special Warranty Deed
$1,429,500 · Fidelity Bank
—
—
Gcpc INC
—
Deed Of Trust
related
$2,326,000 · Sovereign Bank
—
—
Mlb Invs Of Bay County LLC
—
Deed Of Trust
related
$1,350,923 · Hancock Bank
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
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