Back to Search
Property profile & analytics
FOR LEASE
Strip malls
401 E 23Rd St Panama City, FL 32405
Entity Owned
8-yr Hold
Free & Clear
Property ID
US18-1763853
For Lease
1 / 9
$2,947/Mo
401 E 23Rd St, Panama City, FL 32405
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2005
Construction
STEEL FRAME
Total area
17,577 SF
Lot
3.41 ac (148,757 SF)
Zoning code
PC09
APN
12976-070-000
UPID
US18-1763853
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
$3.40M
Comparable Approach
Comparable
$4.32M
Blend (final)
Blend
$3.86M
Owner & transaction history
Valerio Sd LLC · 8 yrs held
Valerio Sd LLC
since 2018
3 recorded transactions
Zoning & alternative use
PC09 · Panama City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Office building
$3.5M
+35.9%
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%
$3,685,000
6.5%
$3,400,000
7%
$3,160,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,570,000
Current use
OFFICE BUILDING
$3,490,000
Change: +36% · Conversion: Moderate
Blend value · Realmo final
$3.86M
Range $3.47M – $4.25M · ±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
$220 / 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
$36,736
Tax year 2023
Assessed value
$2,188,543
Assessed 2023
Previous assessed
$2,189,479
0.0% YoY
Effective rate
1.68%
On assessed value
Assessed land
$1,195,250
Assessed improvement
$993,293
Land market value
$1,195,250
Improvement market value
$993,293
Total market value
$2,188,543
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
2005
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
OTHER
Rooms
25
Total area
17,577 SF
Lot
3.41 ac (148,757 SF)
Zoning code
PC09
APN
12976-070-000
UPID
US18-1763853
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.6M
OFFICE BUILDING
Est. value
$3.5M
NEIGHBORHOOD: SHOPPING CENTER Current
OFFICE 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
2005
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Rooms
25
Lot
3.41 ac
Current owner
From public records · entity-resolved
Valerio Sd LLC
Entity
Free & Clear · 8 yrs held
Mailing address
3525 DEL MAR HTS RD #291, SAN DIEGO, CA 92130-2199
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 16, 2018
$2,058,000
Valerio Sd LLC
Cc Plaza LLC
Warranty Deed
—
Sep 18, 2014
—
Cc Plaza LLC
Gwhv Funding III LLC
Deed In Lieu Of Foreclosure
related
—
May 4, 2007
$3,900,000
Gwhv Funding III LLC
Sgi-panama City II LLC
Grant Deed
related
$3,120,000 · Cwcapital LLC
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?”
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.
