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Property profile & analytics
OFF-MARKET
Estimated value
$1,700,000
Retail properties & Spaces
1918 23rd St Panama City, FL 32405-2919
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US18-4674185
Property profile
Verified
Property type
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Year built
1996
Construction
STEEL FRAME
Total area
7,370 SF
Lot
0.61 ac (26,441 SF)
Zoning code
BC05
APN
13212-000-000
UPID
US18-4674185
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
-
Tire Kingdom (Bike/Boat/Book/etc) Store Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.70M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.16M
Blend (final)
Blend
$1.70M
Owner & transaction history
Agree Stores LLC · 6 yrs held
Agree Stores LLC
since 2020
Last sale
$1.7M
5 recorded transactions
Zoning & alternative use
BC05 · Panama City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.8M
+148.6%
Office building
$1.6M
+119.1%
Retail stores
$1.1M
+58.6%
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
$1,690,000
ML approach
$1,700,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,785,000
Change: +149% · Conversion: Difficult
OFFICE BUILDING
$1,575,000
Change: +119% · Conversion: Difficult
RETAIL STORES
$1,140,000
Change: +59% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,075,000
Change: +50% · Conversion: Difficult
Blend value · Realmo final
$1.70M
Range $1.53M – $1.87M · ±10% · vs last sale $1.70M (Jan 14 2020)
Last sale anchor
$1.70M
Jan 14 2020
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
$231 / 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
$17,048
Tax year 2023
Assessed value
$1,377,811
Assessed 2023
Previous assessed
$1,200,179
+14.8% YoY
Effective rate
1.24%
On assessed value
Assessed land
$661,023
Assessed improvement
$716,788
Land market value
$661,023
Improvement market value
$716,788
Total market value
$1,377,811
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
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Status
Off-Market
Year built
1996
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Stories
1
Rooms
2
Total area
7,370 SF
Lot
0.61 ac (26,441 SF)
Zoning code
BC05
APN
13212-000-000
UPID
US18-4674185
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
RESTAURANT
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.6M
RETAIL STORES
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.1M
RESTAURANT
OFFICE BUILDING
RETAIL STORES
COMMERCIAL (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
1996
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Rooms
2
Lot
0.61 ac
Current owner
From public records · entity-resolved
Agree Stores LLC
Entity
Mailing address
PO BOX 52427, ATLANTA, GA 30355-0427
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 14, 2020
$1,700,000
Agree Stores LLC
Tbc Retail Group INC
Grant Deed
—
Nov 16, 2018
$1,330,000
Tbc Retail Group INC
Ibis America INC
Grant Deed
—
Jun 7, 2016
$272,000
Ibis America INC
Thomas,sandra E
Quit Claim Deed
related
—
—
—
Sandra E Thomas
—
Deed Of Trust
related
$797,880 · Prosperity Bank
—
—
Weldon B Thomas
—
Deed Of Trust
related
$880,000 · Prosperity 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.
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