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Property profile & analytics
OFF-MARKET
Estimated value
$3,130,000
Manufacturing properties
2200 Nelson Ave Panama City, FL 32401-4969
Entity Owned
Free & Clear
Property ID
US18-5075211
Property profile
Verified
Property type
Manufacturing properties
Use group
HEAVY MANUFACTURING
Year built
2022
Construction
STEEL FRAME
Total area
30,500 SF
Lot
10.91 ac (475,196 SF)
Zoning code
PC12
APN
25626-000-000
UPID
US18-5075211
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.09M
Comparable Approach
Comparable
$3.89M
Blend (final)
Blend
$3.13M
Owner & transaction history
BAY FABRICATION, INC
BAY FABRICATION, INC
Zoning & alternative use
PC12 · Panama City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.6M
+51.2%
Commercial (general)
$2.8M
+15.3%
Retail stores
$2.7M
+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%
$3,350,000
6.5%
$3,090,000
7%
$2,870,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,395,000
Current use
MEDICAL BUILDING
$3,620,000
Change: +51% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,760,000
Change: +15% · Conversion: Difficult
RETAIL STORES
$2,680,000
Change: +12% · Conversion: Moderate
Blend value · Realmo final
$3.13M
Range $2.82M – $3.44M · ±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
$60,477
Tax year 2023
Assessed value
$3,948,764
Assessed 2023
Previous assessed
$3,948,764
+0.0% YoY
Effective rate
1.53%
On assessed value
Assessed land
$1,006,900
Assessed improvement
$2,941,864
Land market value
$1,006,900
Improvement market value
$2,941,864
Total market value
$3,948,764
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
HEAVY MANUFACTURING
Status
Off-Market
Year built
2022
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Buildings
3
Stories
1
Rooms
6
Total area
30,500 SF
Lot
10.91 ac (475,196 SF)
Zoning code
PC12
APN
25626-000-000
UPID
US18-5075211
Jurisdiction
BAY
Zoning & alternative use
PC12 · Panama City, FL
Zoning PC12 · permitted uses
PC12 · 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
$2.4M
MEDICAL BUILDING
Est. value
$3.6M
COMMERCIAL (GENERAL)
Est. value
$2.8M
RETAIL STORES
Est. value
$2.7M
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
2022
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
3
Rooms
6
Lot
10.91 ac
Current owner
From public records · entity-resolved
BAY FABRICATION, INC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 960, PANAMA CITY, FL 32402-0960
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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