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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Banks
2718 Hwy 77, Panama City, FL 32405-5128
Entity Owned
19-yr Hold
Free & Clear
Property ID
US18-0173303
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
11,461 SF
Lot
2.85 ac (124,020 SF)
Zoning code
PC09
APN
12869-000-000
UPID
US18-0173303
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
$495k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$566k
Blend (final)
Blend
$530k
Owner & transaction history
21 Commander Realty In Century · 19 yrs held
21 Commander Realty In Century
since 2007
1 recorded transaction
Zoning & alternative use
PC09 · Panama City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$815,000
+73.8%
Restaurant
$810,000
+72.0%
Medical building
$685,000
+45.3%
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
$495,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$470,000
Current use
AUTO REPAIR, GARAGE
$815,000
Change: +74% · Conversion: Difficult
RESTAURANT
$810,000
Change: +72% · Conversion: Difficult
MEDICAL BUILDING
$685,000
Change: +45% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$620,000
Change: +32% · Conversion: Difficult
Blend value · Realmo final
$530k
Range $477k – $583k · ±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
$46 / 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
$46,730
Tax year 2023
Assessed value
$2,762,463
Assessed 2023
Previous assessed
$2,680,714
+3.0% YoY
Effective rate
1.69%
On assessed value
Assessed land
$1,244,595
Assessed improvement
$1,517,868
Land market value
$1,244,595
Improvement market value
$1,517,868
Total market value
$2,762,463
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Rooms
18
Total area
11,461 SF
Lot
2.85 ac (124,020 SF)
Zoning code
PC09
APN
12869-000-000
UPID
US18-0173303
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
FINANCIAL BUILDING Current
Est. value
$470,000
AUTO REPAIR, GARAGE
Est. value
$815,000
RESTAURANT
Est. value
$810,000
MEDICAL BUILDING
Est. value
$685,000
INDUSTRIAL (GENERAL)
Est. value
$620,000
FINANCIAL BUILDING Current
AUTO REPAIR, GARAGE
RESTAURANT
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
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Rooms
18
Lot
2.85 ac
Current owner
From public records · entity-resolved
21 Commander Realty In Century
Entity
Free & Clear · 19 yrs held
Mailing address
2718 MARTIN LUTHER KING JR BLVD, PANAMA CITY, FL 32405-4408
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 20, 2007
$100,000
21 Commander Realty In Century
Panhandle Educators FCU
Warranty Deed
—
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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