New search
Property profile & analytics
OFF-MARKET
Estimated value
$2,625,000
Manufacturing properties
3615 Calhoun Ave Panama City, FL 32405-1906
Entity Owned
6-yr Hold
Free & Clear
Property ID
US18-2681171
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1973
Construction
STEEL FRAME
Total area
24,240 SF
Lot
11.55 ac (503,249 SF)
Zoning code
PC11
APN
26658-020-000
UPID
US18-2681171
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
-
Marine Transportation Services (Bike/Boat/Book/etc) Store
-
Queen Craft Shipyard Factory Production Facility
-
Marine Transportation Services, Inc. Factory Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.46M
Comparable Approach
Comparable
$3.09M
Blend (final)
Blend
$2.63M
Owner & transaction history
Suzuki Motor Of America INC · 6 yrs held
Suzuki Motor Of America INC
since 2019
2 recorded transactions
Zoning & alternative use
PC11 · Panama City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.7M
+96.8%
Commercial (general)
$3.5M
+85.7%
Medical building
$3.1M
+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%
$2,660,000
6.5%
$2,455,000
7%
$2,280,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,905,000
Current use
RETAIL STORES
$3,745,000
Change: +97% · Conversion: Moderate
COMMERCIAL (GENERAL)
$3,535,000
Change: +86% · Conversion: Difficult
MEDICAL BUILDING
$3,060,000
Change: +61% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,580,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$2.63M
Range $2.36M – $2.89M · ±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
$108 / 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
$32,555
Tax year 2023
Assessed value
$1,939,398
Assessed 2023
Previous assessed
$1,955,501
-0.8% YoY
Effective rate
1.68%
On assessed value
Assessed land
$1,066,341
Assessed improvement
$873,057
Land market value
$1,066,341
Improvement market value
$873,057
Total market value
$1,939,398
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1973
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Buildings
5
Stories
1
Units
1
Rooms
8
Bathrooms
2
Total area
24,240 SF
Lot
11.55 ac (503,249 SF)
Zoning code
PC11
APN
26658-020-000
UPID
US18-2681171
Jurisdiction
BAY
Zoning & alternative use
PC11 · Panama City, FL
Zoning PC11 · permitted uses
PC11 · 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
INDUSTRIAL (GENERAL) Current
Est. value
$1.9M
RETAIL STORES
Est. value
$3.7M
COMMERCIAL (GENERAL)
Est. value
$3.5M
MEDICAL BUILDING
Est. value
$3.1M
WAREHOUSE, STORAGE
Est. value
$1.6M
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
1973
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
5
Units
1
Rooms
8
Bathrooms
2
Lot
11.55 ac
Current owner
From public records · entity-resolved
Suzuki Motor Of America INC
Entity
Free & Clear · 6 yrs held
Mailing address
3615 CALHOUN AVE, PANAMA CITY, FL 32405-1906
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 23, 2019
—
Suzuki Motor Of America INC
Marine Transportation Svcs INC
Warranty Deed
related
—
Mar 26, 1998
$379,300
Marine Transportation Svcs INC
Geo W Davis & Sons INC
Grant Deed
$389,365 · First National Bank Nw Florida
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 3615 Calhoun 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.
