New search
Property profile & analytics
OFF-MARKET
Estimated value
$1,665,000
Retail residential properties
420 23rd St Panama City, FL 32405-4508
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US19-0771533
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1982
Construction
STEEL FRAME
Total area
9,307 SF
Lot
1.01 ac (43,790 SF)
Zoning code
PC09
APN
13016-036-000
UPID
US19-0771533
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
-
That’s Too Cute Clothing & Fashion Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.45M
Comparable Approach
Comparable
$1.99M
Blend (final)
Blend
$1.67M
Owner & transaction history
23rd St Commercial Group LLC · 18 yrs held
23rd St Commercial Group LLC
since 2008
7 recorded transactions
Zoning & alternative use
PC09 · Panama City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.3M
+66.2%
Office building
$2.0M
+46.4%
Retail stores
$1.4M
+6.0%
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%
$1,570,000
6.5%
$1,450,000
7%
$1,345,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,355,000
Current use
RESTAURANT
$2,255,000
Change: +66% · Conversion: Difficult
OFFICE BUILDING
$1,985,000
Change: +46% · Conversion: Easy
RETAIL STORES
$1,440,000
Change: +6% · Conversion: Easy
MEDICAL BUILDING
$1,175,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$1.67M
Range $1.50M – $1.83M · ±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
$179 / 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
$17,961
Tax year 2023
Assessed value
$1,221,943
Assessed 2023
Previous assessed
$955,122
+27.9% YoY
Effective rate
1.47%
On assessed value
Assessed land
$854,750
Assessed improvement
$367,193
Land market value
$854,750
Improvement market value
$367,193
Total market value
$1,221,943
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
Retail residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
1982
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
12
Total area
9,307 SF
Lot
1.01 ac (43,790 SF)
Zoning code
PC09
APN
13016-036-000
UPID
US19-0771533
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
COMMERCIAL (GENERAL) Current
Est. value
$1.4M
RESTAURANT
Est. value
$2.3M
OFFICE BUILDING
Est. value
$2.0M
RETAIL STORES
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.2M
COMMERCIAL (GENERAL) Current
RESTAURANT
OFFICE BUILDING
RETAIL STORES
MEDICAL 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
1982
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
12
Lot
1.01 ac
Current owner
From public records · entity-resolved
23rd St Commercial Group LLC
Entity
Mailing address
416 W 23RD ST, PANAMA CITY, FL 32405-4508
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 5, 2021
—
23rd St Commercial Group LLC
—
Deed
related
$1,361,000 · Legence Bank
Dec 17, 2019
—
23rd St Commercial Group LLC
—
Deed
related
$1,517,060 · Bank Of Frankewing
Apr 1, 2008
—
23rd St Commercial Group LLC
Harless,kevin
Quit Claim Deed
related
$264,764 · Skinner Tax Consulting INC
Sep 27, 2004
$775,000
23rd St Commercial Group LLC
Earnests All Of Sports Ctr INC
Warranty Deed
$775,000 · Vision Bank Fsb
—
—
23rd St Commercial Group LLC
—
Deed Of Trust
related
$4,341 · Michelle Ginn
—
—
23rd Street Coml Group LLC
—
Deed Of Trust
related
$987,011 · Skinner Tax Consulting INC
—
—
23rd St Commercial Group LLC
—
Deed Of Trust
related
$1,517,060 · Bank Of Frankewing
—
—
23rd St Commercial Group LLC
—
Deed Of Trust
related
$194,422 · Skinner Tax Consulting INC
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 420 23rd St?
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.
