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Property profile & analytics
OFF-MARKET
Estimated value
$11,000,000
Medical Office Space
2500 Martin Luther King Jr Blvd, Panama City, FL 32405-4412
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US18-5236326
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2000
Construction
WOOD
Total area
29,210 SF
Lot
3.38 ac (147,146 SF)
Zoning code
PC09
APN
12913-020-000
UPID
US18-5236326
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
-
Bret L. Fisher, M.D. Ophthalmologist
-
Mrs. Linda Moon Physician
-
Eye Center of North Florida Eye Care Center Lasik Surgeon
-
Lisa Mckim Physician
-
Alexander Moussa Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$11.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$11.00M
Owner & transaction history
Mmof IV Panama City Fl LLC · 1 yrs held
Mmof IV Panama City Fl LLC
since 2024
Last sale
$11.0M
4 recorded transactions
Zoning & alternative use
PC09 · Panama City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$14.0M
+280.2%
Restaurant
$7.1M
+91.9%
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
$11,000,000
ML approach
$11,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$14,020,000
Change: +280% · Conversion: Difficult
RESTAURANT
$7,075,000
Change: +92% · Conversion: Difficult
Blend value · Realmo final
$11.00M
Range $9.90M – $12.10M · ±10% · vs last sale $11.00M (Jul 16 2024)
Last sale anchor
$11.00M
Jul 16 2024
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
$377 / 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
$82,646
Tax year 2023
Assessed value
$4,765,720
Assessed 2023
Previous assessed
$4,806,881
-0.9% YoY
Effective rate
1.73%
On assessed value
Assessed land
$805,653
Assessed improvement
$3,960,067
Land market value
$805,653
Improvement market value
$3,960,067
Total market value
$4,765,720
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2000
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
22
Total area
29,210 SF
Lot
3.38 ac (147,146 SF)
Zoning code
PC09
APN
12913-020-000
UPID
US18-5236326
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
AUTO REPAIR, GARAGE
Est. value
$14.0M
RESTAURANT
Est. value
$7.1M
AUTO REPAIR, GARAGE
RESTAURANT
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
2000
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
22
Lot
3.38 ac
Current owner
From public records · entity-resolved
Mmof IV Panama City Fl LLC
Entity
Mailing address
2 BETHESDA METRO CTR STE #440, BETHESDA, MD 20814-5333
Ownership since
2024
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
Jul 16, 2024
$11,000,000
Mmof IV Panama City Fl LLC
Gmr Panama City LLC
Special Warranty Deed
$125,000,000 · Capital One Bank NA
Nov 1, 2019
—
Gmr Panama City LLC
Surg Two LLC
Warranty Deed
related
—
Jan 20, 2017
—
Surge Two LLC
—
Deed
related
$1,187,729 · Regions Bk
—
—
Surge Two LLC
—
Loan Modification
related
$1,187,729 · Regions Bk
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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