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Property profile & analytics
OFF-MARKET
Estimated value
$680,000
Industrial land
2305 Sherman Ave Panama City, FL 32405-6240
Entity Owned
12-yr Hold
Free & Clear
Property ID
US19-0683283
Property profile
Verified
Property type
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Year built
1944
Total area
6,420 SF
Lot
14.19 ac (617,986 SF)
APN
12806-000-000
UPID
US19-0683283
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
-
B & B Music Dj's Music Venue Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$650k
Comparable Approach
Comparable
$820k
Blend (final)
Blend
$680k
Owner & transaction history
Windermere Lakes Investment · 12 yrs held
Windermere Lakes Investment
since 2014
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$990,000
+96.8%
Commercial (general)
$935,000
+85.7%
Medical building
$810,000
+60.8%
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%
$705,000
6.5%
$650,000
7%
$605,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$505,000
Current use
RETAIL STORES
$990,000
Change: +97% · Conversion: Moderate
COMMERCIAL (GENERAL)
$935,000
Change: +86% · Conversion: Difficult
MEDICAL BUILDING
$810,000
Change: +61% · Conversion: Difficult
WAREHOUSE, STORAGE
$420,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$680k
Range $612k – $748k · ±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
$106 / 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
$5,543
Tax year 2023
Assessed value
$442,634
Assessed 2023
Previous assessed
$442,634
+0.0% YoY
Effective rate
1.25%
On assessed value
Assessed land
$442,634
Land market value
$442,634
Total market value
$442,634
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
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Status
Off-Market
Year built
1944
Heating
YES
Cooling
WINDOW A/C
Stories
1
Rooms
4
Bathrooms
7
Total area
6,420 SF
Lot
14.19 ac (617,986 SF)
APN
12806-000-000
UPID
US19-0683283
Jurisdiction
BAY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$505,000
RETAIL STORES
Est. value
$990,000
COMMERCIAL (GENERAL)
Est. value
$935,000
MEDICAL BUILDING
Est. value
$810,000
WAREHOUSE, STORAGE
Est. value
$420,000
INDUSTRIAL (GENERAL) Current
RETAIL STORES
COMMERCIAL (GENERAL)
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1944
Heating
YES
Cooling
Yes
Stories
1
Rooms
4
Bathrooms
7
Lot
14.19 ac
Current owner
From public records · entity-resolved
Windermere Lakes Investment
Entity
Free & Clear · 12 yrs held
Mailing address
PO BOX 191, GOTHA, FL 34734-0191
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 27, 2014
$35,800
Windermere Lakes Investment
Regions Bk
Grant Deed
—
Feb 24, 2011
$330,000
Regions Bk
Miller Morris H III
Deed In Lieu Of Foreclosure
related
—
Jul 27, 2007
—
Morris H Miller II
Paniucki,keith E
Quit Claim Deed
related
—
Apr 11, 2006
$525,000
Keith E Paniucki
Dha Rentals LLC
Warranty Deed
$460,000 · Regions 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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