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Property profile & analytics
FOR SALE
Manufacturing properties
1331 Harrison Ave Panama City, FL 32401
Individually Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-3788362
For Sale
1 / 75
$2,500,000
1331 Harrison Ave, Panama City, FL 32401
View Listing →
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
2021
Construction
STEEL FRAME
Total area
11,552 SF
Lot
0.36 ac (15,507 SF)
Zoning code
PC09
APN
18353-000-000
UPID
US18-3788362
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 City Hot Glass of MG&S Factory Industrial Manufacturer
-
PcSnkrs Clothing & Fashion Store (Bike/Boat/Book/etc) Store
-
Panama City Hot Glass Factory Industrial Manufacturer
-
McLeod's Glass & Supply Hardware & Home Improvement Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.17M
Comparable Approach
Comparable
$1.47M
Blend (final)
Blend
$1.19M
Owner & transaction history
Christopher B Mcleod · 6 yrs held
Christopher B Mcleod
since 2019
6 recorded transactions
Zoning & alternative use
PC09 · Panama City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.4M
+51.2%
Commercial (general)
$1.0M
+15.3%
Retail stores
$1.0M
+11.9%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$1,270,000
6.5%
$1,170,000
7%
$1,085,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$905,000
Current use
MEDICAL BUILDING
$1,370,000
Change: +51% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,045,000
Change: +15% · Conversion: Difficult
RETAIL STORES
$1,015,000
Change: +12% · Conversion: Moderate
Blend value · Realmo final
$1.19M
Range $1.07M – $1.30M · ±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
$103 / 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
$13,079
Tax year 2023
Assessed value
$742,109
Assessed 2023
Previous assessed
$742,109
+0.0% YoY
Effective rate
1.76%
On assessed value
Assessed land
$93,044
Assessed improvement
$649,065
Land market value
$93,044
Improvement market value
$649,065
Total market value
$742,109
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
For Sale
Year built
2021
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Rooms
5
Total area
11,552 SF
Lot
0.36 ac (15,507 SF)
Zoning code
PC09
APN
18353-000-000
UPID
US18-3788362
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
INDUSTRIAL (GENERAL) Current
Est. value
$905,000
MEDICAL BUILDING
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.0M
RETAIL STORES
Est. value
$1.0M
INDUSTRIAL (GENERAL) Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
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
2021
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Rooms
5
Lot
0.36 ac
Current owner
From public records · entity-resolved
Christopher B Mcleod
Individual
Mailing address
427 BUNKERS CV RD, PANAMA CITY, FL 32401-3913
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 21, 2020
—
Christopher Mcleod
—
Deed
related
$11,200,000 · Innovations FCU
Aug 28, 2019
—
Christopher B Mcleod
Christopher B Mcleod
Deed
related
$1,120,000 · Innovations FCU
Sep 28, 2018
$365,000
Christopher B Mcleod
David R Bailey
Warranty Deed
—
Sep 28, 2018
—
Christopher B Mcleod
Bailey,david R & Julie H
Quit Claim Deed
related
—
Sep 28, 2018
$81,000
Christopher B Mcleod
Thao M Nguyen
Warranty Deed
$357,000 · Innovations FCU
Nov 20, 2012
$200,000
David R Bailey
Whitfield,douglas
Warranty 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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