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Property profile & analytics
OFF-MARKET
Estimated value
$12,030,000
Strip malls
23030 Panama City Bch Pkwy Panama City Beach, FL 32413
Entity Owned
11-yr Hold
Free & Clear
Property ID
US18-5981693
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
56,146 SF
Lot
8.97 ac (390,733 SF)
Zoning code
BC05
APN
36075-010-000
UPID
US18-5981693
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
$10.87M
Comparable Approach
Comparable
$13.19M
Blend (final)
Blend
$12.03M
Owner & transaction history
Real Sub LLC · 11 yrs held
Real Sub LLC
since 2015
2 recorded transactions
Zoning & alternative use
BC05 · Panama City Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$11.6M
+41.9%
Office building
$10.6M
+29.4%
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 Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Panama City Beach 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%
$11,775,000
6.5%
$10,870,000
7%
$10,090,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$8,205,000
Current use
COMMERCIAL (GENERAL)
$11,645,000
Change: +42% · Conversion: Easy
OFFICE BUILDING
$10,620,000
Change: +29% · Conversion: Moderate
Blend value · Realmo final
$12.03M
Range $10.83M – $13.23M · ±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
$214 / 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
$69,372
Tax year 2023
Assessed value
$5,532,578
Assessed 2023
Previous assessed
$6,341,390
-12.8% YoY
Effective rate
1.25%
On assessed value
Assessed land
$3,270,910
Assessed improvement
$2,261,668
Land market value
$3,270,910
Improvement market value
$2,261,668
Total market value
$5,532,578
Applied tax rate
56.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
7
Rooms
12
Total area
56,146 SF
Lot
8.97 ac (390,733 SF)
Zoning code
BC05
APN
36075-010-000
UPID
US18-5981693
Jurisdiction
BAY
Zoning & alternative use
BC05 · Panama City Beach, FL
Zoning BC05 · permitted uses
BC05 · Panama City Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Panama City Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$8.2M
COMMERCIAL (GENERAL)
Est. value
$11.6M
OFFICE BUILDING
Est. value
$10.6M
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
7
Rooms
12
Lot
8.97 ac
Current owner
From public records · entity-resolved
Real Sub LLC
Entity
Free & Clear · 11 yrs held
Mailing address
PO BOX 32018, LAKELAND, FL 33802-2018
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 29, 2015
$9,000,000
Real Sub LLC
Ocean Park Pavillion INC
Grant Deed
—
—
—
Ocean Park Pavillion INC
—
Deed Of Trust
related
$3,580,000 · Wells Fargo 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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