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Property profile & analytics
OFF-MARKET
Estimated value
$1,185,000
Outlet malls
2520 23rd St Panama City, FL 32405-2361
Individually Owned
19-yr Hold
Free & Clear
Property ID
US18-0248459
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2008
Construction
STEEL FRAME
Total area
12,834 SF
Lot
1.6 ac (69,870 SF)
Zoning code
PC09
APN
26718-212-000
UPID
US18-0248459
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
-
Goodwill Retail Store, Career Training Center, & Donation Center Employment Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.19M
Owner & transaction history
Industries-big Bend I Goodwill · 19 yrs held
Industries-big Bend I Goodwill
since 2007
5 recorded transactions
Zoning & alternative use
PC09 · Panama City, FL
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,870,000
Change: -6% · Conversion: Easy
MEDICAL BUILDING
$1,620,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$1.19M
Range $1.07M – $1.30M · ±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
$92 / 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
$781
Tax year 2023
Assessed value
$929,204
Assessed 2023
Previous assessed
$937,828
-0.9% YoY
Effective rate
0.08%
On assessed value
Assessed land
$577,440
Assessed improvement
$351,764
Land market value
$577,440
Improvement market value
$351,764
Total market value
$929,204
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2008
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Rooms
4
Total area
12,834 SF
Lot
1.6 ac (69,870 SF)
Zoning code
PC09
APN
26718-212-000
UPID
US18-0248459
Jurisdiction
BAY
Zoning & alternative use
PC09 · Panama City, FLZoning 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
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$1.6M
COMMERCIAL (GENERAL)
MEDICAL 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
2008
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Rooms
4
Lot
1.6 ac
Current owner
From public records · entity-resolved
Industries-big Bend I Goodwill
Individual
Free & Clear · 19 yrs held
Mailing address
300 MABRY ST, TALLAHASSEE, FL 32304-3813
Ownership since
2007
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
May 19, 2017
—
Goodwill Industries-big Bend I
—
Grant Deed
related
$10,386,966 · Capital Cty Bk
Mar 12, 2007
$1,300,000
Industries-big Bend I Goodwill
390 Group LLC
Warranty Deed
—
Nov 30, 2006
$1,600,000
390 Group LLC
Strategic Holdings LLC
Warranty Deed
$1,374,400 · Branch Banking And Trust Co
Jan 11, 2005
$375,000
Strategic Holdings LLC
Hodson,larry L & Carole A
Warranty Deed
—
Aug 5, 2004
$340,000
Larry L Hodson
Hartzog,cleatus & Dovie
Warranty Deed
$306,000 · Suntrust Bank NA
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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