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Property profile & analytics
OFF-MARKET
Estimated value
$1,380,000
Warehouses
4003 Hwy 390 Panama City, FL 32405-4834
Entity Owned
24-yr Hold
~
Est. High Equity
Property ID
US18-6287501
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2003
Construction
STEEL FRAME
Total area
16,560 SF
Lot
9.17 ac (399,532 SF)
Zoning code
PC09
APN
11676-000-001
UPID
US18-6287501
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
by Request
CAP Approach
CAP
$1.93M
Comparable Approach
Comparable
$1.74M
Blend (final)
Blend
$1.38M
Owner & transaction history
North Shore Business Dev LLC · 24 yrs held
North Shore Business Dev LLC
since 2001
7 recorded transactions
Zoning & alternative use
PC09 · Panama City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.1M
+93.8%
Industrial (general)
$1.3M
+20.5%
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%
$2,090,000
6.5%
$1,930,000
7%
$1,790,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,080,000
Current use
MEDICAL BUILDING
$2,090,000
Change: +94% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,300,000
Change: +21% · Conversion: Easy
Blend value · Realmo final
$1.38M
Range $1.24M – $1.52M · ±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
$83 / 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
$86,628
Tax year 2023
Assessed value
$5,927,924
Assessed 2023
Previous assessed
$5,927,924
+0.0% YoY
Effective rate
1.46%
On assessed value
Assessed land
$536,562
Assessed improvement
$5,391,362
Land market value
$536,562
Improvement market value
$5,391,362
Total market value
$5,927,924
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2003
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
5
Stories
1
Units
26
Rooms
340
Bathrooms
2
Total area
16,560 SF
Lot
9.17 ac (399,532 SF)
Zoning code
PC09
APN
11676-000-001
UPID
US18-6287501
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
WAREHOUSE, STORAGE Current
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$2.1M
INDUSTRIAL (GENERAL)
Est. value
$1.3M
WAREHOUSE, STORAGE Current
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
2003
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
5
Units
26
Rooms
340
Bathrooms
2
Lot
9.17 ac
Current owner
From public records · entity-resolved
North Shore Business Dev LLC
Entity
Mailing address
PO BOX 320099, ALEXANDRIA, VA 22320-4099
Ownership since
2001
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
Oct 7, 2020
—
Carbro LLC
—
Deed
related
—
Jun 5, 2018
—
Cabro LLC
—
Deed
related
$650,000 · Central Bk
Jul 31, 2001
$220,000
North Shore Business Dev LLC
Bingham,frasier O
Grant Deed
—
Jul 31, 2001
$110,000
North Shore Business Dev LLC
Hansman,robert H & Barbara B
Grant Deed
$450,000 · Peoples First Community Bank
Dec 4, 1996
—
Frasier O Bingham
Bingham,eunice M
Quit Claim Deed
related
—
—
—
North Shore Business Dev LLC
—
Deed Of Trust
related
$4,500,000 · Lasalle National Bank
—
—
North Shore Business Dev LLC
—
Deed Of Trust
related
$4,000,000 · Miscellaneous Ins Co
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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