Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1828 Sherman Ave Panama City, FL 32405

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-9226656
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1828 Sherman Ave

    Property type
    Commercial real estate

    Description

    This exceptional 47,655 square foot vacant commercial land parcel is situated at 1828 Sherman Avenue in Panama City, Florida, zip code 32405. Zoned for General Commercial use, this property presents a significant opportunity for developers and businesses seeking expansion. The lot's size offers ample space for a variety of commercial projects. Its strategic location provides excellent visibility and accessibility, contributing to its high potential. Data from 2021 indicates an average daily traffic count of approximately 4,300 vehicles, underscoring the significant potential for customer traffic and business success. The property is located in Bay County, Florida, and its coordinates are 30.1795898 latitude and -85.6327836 longitude. The asking price for this prime commercial land is $240,000. This represents a compelling investment opportunity in a thriving area with strong potential for future growth and return. Don't miss this chance to acquire a highly desirable commercial property in a prime Panama City location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Bay
    State
    Florida
    Longitude
    -85.6327836
    Latitude
    30.1795898

    Comparable in this City

    • $3,900,000
      6.24 Acres

      Prime Panama City Commercial Land

      6.24 Acres, High Traffic Area
      2300 23Rd St, Panama City, FL 32405
      View Details
    • $1,400,000
      2,100 SF

      Prime Panama City Commercial Land

      Vacant lot, 76K+ sq ft, $1.4M
      1046 23Rd St, Panama City, FL 32405
      View Details
    • Contact for pricing

      Prime Panama City Development Sites

      Retail, Multifamily, & QSR Land
      2604 County Rd 390, Panama City, FL 32405
      View Details
    • $109,250

      Panama City Commercial Land Parcel

      Prime 1.15-acre lot in Cedar Grove
      2908 Forester Trl, Panama City, FL 32405
      View Details
    • $699,000
      2.34 Acres

      Prime Panama City Commercial Land

      2.34-Acre Corner Lot, $699,000
      1904 Lisenby Ave, Panama City, FL 32405
      View Details
    • $239,000
      0.30 Acres

      Highway 231 Commercial Lot

      Prime commercial lot on Highway 231 in Panama City.
      2213 Highway 231, Panama City, FL 32405
      View Details

    Similar Nearby for Sale

    • $3,900,000
      6.24 Acres

      Prime Panama City Commercial Land

      6.24 Acres, High Traffic Area
      2300 23Rd St, Panama City, FL 32405
      View Details
    • $1,400,000
      2,100 SF

      Prime Panama City Commercial Land

      Vacant lot, 76K+ sq ft, $1.4M
      1046 23Rd St, Panama City, FL 32405
      View Details
    • Contact for pricing

      Prime Panama City Development Sites

      Retail, Multifamily, & QSR Land
      2604 County Rd 390, Panama City, FL 32405
      View Details
    • $109,250

      Panama City Commercial Land Parcel

      Prime 1.15-acre lot in Cedar Grove
      2908 Forester Trl, Panama City, FL 32405
      View Details
    • $699,000
      2.34 Acres

      Prime Panama City Commercial Land

      2.34-Acre Corner Lot, $699,000
      1904 Lisenby Ave, Panama City, FL 32405
      View Details
    • $239,000
      0.30 Acres

      Highway 231 Commercial Lot

      Prime commercial lot on Highway 231 in Panama City.
      2213 Highway 231, Panama City, FL 32405
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      101,930 SF

      Prime Panama City Commercial Land

      2.34 Acres, High Traffic Area, Mixed Use
      1904 Lisenby Ave, Panama City, FL 32405
      View Details
    • $5,417 /Mo
      101,930 SF

      Prime Panama City Commercial Lot

      2.34 Acres, Mixed-Use Zoning, High Traffic
      1904 Lisenby Ave, Panama City, FL 32405
      View Details
    • $490,000

      Panama City Industrial Site

      Centrally located industrial land near major thoroughfares and Panama City Beach.
      4023 W 24Th St, Panama City, FL 32405
      View Details
    • Contact for pricing

      Panama City Commercial Land Lease

      Commercial land available for ground lease in Panama City, Florida.
      2610 Martin Luther King Junior Blvd, Panama City, FL 32405
      View Details
    • $3,700 /Mo
      121,968 SF

      Cleared Commercial Land For Lease

      2.8 acres of vacant commercial land available for lease.
      2110 Industrial Dr, Panama City, FL 32405
      View Details
    • $6 SF/Yr
      7,220 SF

      Airport Road Office Suites

      Panama City Office Space Available
      501 Airport Rd, Panama City, FL 32405
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1828 Sherman Ave
    Panama City, FL 32405
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.