Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,250,000
Warehouses
271 Star Ave Panama City, FL 32404-7616
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-4729045
Property summary
AI-generated overview
This newly constructed, single-tenant warehouse, totaling 1,500 square feet, offers a prime location just minutes from Tyndall Air Force Base, with easy access to Highway 231. The unit boasts a 14-foot high by 12-foot wide overhead door, enhancing ease of loading and unloading. For added convenience and ventilation, the property includes personnel doors at both the front and rear. Private restrooms are included within the unit for employee use. The warehouse features a 17-foot clear ceiling height, providing ample vertical space for storage or operations. Individual electric meters allow for precise cost control. Tenants are responsible for their pro-rata share of common area utilities. The property is part of a larger complex, offering the potential for expansion or synergy with other businesses in the area. This is an excellent opportunity for businesses seeking efficient, well-located industrial space near Tyndall Air Force Base. The property is identified by APN 06463-030-000. The lot size is not specified. The building is a single-story structure.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2022
Construction
STEEL FRAME
Total area
12,000 SF
Lot
1.36 ac (59,067 SF)
APN
06463-030-000
UPID
US18-4729045
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
-
Ardamas Fleet Services Auto Repair Shop
-
Apex Power Pros Electrical Service General Contractor
-
PDR Mobile Auto Dent Removal & Paint Auto Repair Shop
-
Humble House Thrift Store: Furniture and More Discount Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.01M
CAP Approach
CAP
$1.40M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.25M
Owner & transaction history
Panama Jacks LLC · 3 yrs held
Panama Jacks LLC
since 2023
Last sale
$1.4M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.7M
+84.4%
Commercial (general)
$1.7M
+82.9%
Medical building
$1.4M
+52.2%
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
$1,150,000
ML approach
$1,010,000
CAP Approach
CAP Return
Estimation
6%
$1,515,000
6.5%
$1,400,000
7%
$1,300,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$935,000
Current use
RETAIL STORES
$1,725,000
Change: +84% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,710,000
Change: +83% · Conversion: Difficult
MEDICAL BUILDING
$1,425,000
Change: +52% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$940,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$1.25M
Range $1.13M – $1.38M · ±10% · vs last sale $1.35M (May 2 2023)
Last sale anchor
$1.35M
May 2 2023
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
$104 / 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
$8,429
Tax year 2023
Assessed value
$606,714
Assessed 2023
Previous assessed
$33,900
+1,689.7% YoY
Effective rate
1.39%
On assessed value
Assessed land
$166,788
Assessed improvement
$439,926
Land market value
$166,788
Improvement market value
$439,926
Total market value
$606,714
Applied tax rate
2.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2022
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
WINDOW A/C
Stories
1
Units
8
Bathrooms
2
Total area
12,000 SF
Lot
1.36 ac (59,067 SF)
APN
06463-030-000
UPID
US18-4729045
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
WAREHOUSE, STORAGE Current
Est. value
$935,000
RETAIL STORES
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.4M
INDUSTRIAL (GENERAL)
Est. value
$940,000
WAREHOUSE, STORAGE Current
RETAIL STORES
COMMERCIAL (GENERAL)
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
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
FORCED AIR
Cooling
Yes
Stories
1
Units
8
Bathrooms
2
Lot
1.36 ac
Current owner
From public records · entity-resolved
Panama Jacks LLC
Entity
Mailing address
2853 LONGLEAF RD, PANAMA CITY, FL 32405-2044
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 2, 2023
$1,350,000
Panama Jacks LLC
Gold States LLC
Warranty Deed
$1,000,000 · Trustmark National Bank
May 6, 2020
—
Copper States LLC
Kiley Fulcher
Warranty Deed
—
Jan 10, 2017
$42,000
Kiley Fulcher
Whitford,glynda
Warranty Deed
$36,350 · Glynda L Whitford
Nov 1, 2016
—
Glynda Whitford
Ducker,melissa N
Quit Claim Deed
related
—
Nov 7, 2014
—
Ducker Melissa N
Ducker,melissa N
Quit Claim Deed
related
—
Jun 7, 2006
—
Melissa N Ducker
Glynda L Whitford
Correction Deed
related
$25,000 · Panhandle Educators FCU
Apr 20, 2006
—
Melissa N Ducker
Whitford,glynda L
Quit Claim Deed
related
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 271 Star Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
