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Property profile & analytics
OFF-MARKET
Estimated value
$700,000
Warehouses
1916 Monroe Ave Panama City, FL 32405-4015
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US18-3553582
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1997
Construction
STEEL FRAME
Total area
10,800 SF
Lot
0.84 ac (36,590 SF)
Zoning code
PC09
APN
14231-000-000
UPID
US18-3553582
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
-
Airport Road Easy Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$510k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$969k
Blend (final)
Blend
$700k
Owner & transaction history
Lre Holdings INC · 5 yrs held
Lre Holdings INC
since 2021
Last sale
$750,000
3 recorded transactions
Zoning & alternative use
PC09 · Panama City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$850,000
+20.5%
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
$540,000
ML approach
$510,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$705,000
Current use
INDUSTRIAL (GENERAL)
$850,000
Change: +21% · Conversion: Easy
Blend value · Realmo final
$700k
Range $630k – $770k · ±10% · vs last sale $750k (Jan 15 2021)
Last sale anchor
$750k
Jan 15 2021
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
$65 / 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
$12,350
Tax year 2023
Assessed value
$719,558
Assessed 2023
Previous assessed
$645,254
+11.5% YoY
Effective rate
1.72%
On assessed value
Assessed land
$168,000
Assessed improvement
$551,558
Land market value
$168,000
Improvement market value
$551,558
Total market value
$719,558
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1997
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Stories
1
Units
68
Total area
10,800 SF
Lot
0.84 ac (36,590 SF)
Zoning code
PC09
APN
14231-000-000
UPID
US18-3553582
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
WAREHOUSE, STORAGE Current
Est. value
$705,000
INDUSTRIAL (GENERAL)
Est. value
$850,000
WAREHOUSE, STORAGE Current
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
1997
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Units
68
Lot
0.84 ac
Current owner
From public records · entity-resolved
Lre Holdings INC
Entity
Mailing address
PO BOX 15741, PANAMA CITY, FL 32406-5741
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 15, 2021
$750,000
Lre Holdings INC
Dwight Dale Goerg
Warranty Deed
$525,000 · Dwight Goerg
Oct 19, 2016
$180,000
Dwight D Goerg
Arpo INC
Warranty Deed
—
Dec 31, 2015
$450,000
Arpo INC
Shumate,jack B
Warranty Deed
$225,000 · Jack B Shumate
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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