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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Office Spaces
1712 Airport Rd Panama City, FL 32405-2822
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US18-5314037
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1992
Construction
WOOD
Total area
2,025 SF
Lot
0.94 ac (40,772 SF)
Zoning code
BC05
APN
13169-000-000
UPID
US18-5314037
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
-
UES Engineering Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$495k
CAP Approach
CAP
$315k
Comparable Approach
Comparable
$652k
Blend (final)
Blend
$510k
Owner & transaction history
Piki LLC · 1 yrs held
Piki LLC
since 2025
Last sale
$575,000
7 recorded transactions
Zoning & alternative use
BC05 · Panama City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$430,000
+46.4%
Retail stores
$315,000
+6.0%
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
$510,000
ML approach
$495,000
CAP Approach
CAP Return
Estimation
6%
$340,000
6.5%
$315,000
7%
$295,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$430,000
Change: +46% · Conversion: Easy
RETAIL STORES
$315,000
Change: +6% · Conversion: Easy
Blend value · Realmo final
$510k
Range $459k – $561k · ±10% · vs last sale $575k (May 16 2025)
Last sale anchor
$575k
May 16 2025
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
$252 / 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
$5,089
Tax year 2023
Assessed value
$445,453
Assessed 2023
Previous assessed
$406,762
+9.5% YoY
Effective rate
1.14%
On assessed value
Assessed land
$326,176
Assessed improvement
$119,277
Land market value
$326,176
Improvement market value
$119,277
Total market value
$445,453
Applied tax rate
55.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1992
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Rooms
6
Total area
2,025 SF
Lot
0.94 ac (40,772 SF)
Zoning code
BC05
APN
13169-000-000
UPID
US18-5314037
Jurisdiction
BAY
Zoning & alternative use
BC05 · Panama City, FL
Zoning BC05 · permitted uses
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
OFFICE BUILDING
Est. value
$430,000
RETAIL STORES
Est. value
$315,000
OFFICE BUILDING
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
1992
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Rooms
6
Lot
0.94 ac
Current owner
From public records · entity-resolved
Piki LLC
Entity
Mailing address
1203 N BAY DR, LYNN HAVEN, FL 32444-3203
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 16, 2025
$575,000
Piki LLC
Steven Burks Kimmel SR.
Deed
$460,000 · Innovations Financial Cu
Apr 20, 2022
—
Steven Burks Kimmel SR.
Steven Burks Kimmel SR.
Intrafamily Transfer
related
—
Aug 6, 2018
—
Steven B Kimmel
—
Deed
related
—
Aug 30, 2017
—
Steven B Kimmel
—
Deed
related
—
Aug 11, 2016
—
Steven B Kimmel
—
Deed
related
—
—
—
Kimmel,steven B
—
Loan Modification
related
—
—
—
Steven B Kimmel
—
Loan Modification
related
$110,000 · Centennial Bank
—
—
Steven B Kimmel
—
Loan Modification
related
—
—
—
Stevene B Kimmel
—
Loan Modification
related
—
—
—
Steven B Kimmel
—
Loan Modification
related
—
—
—
Steven B Kimmel
—
Loan Modification
related
—
—
—
Steven B Kimmel
—
Deed Of Trust
related
$166,000 · Vision Bank Fsb
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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