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Property profile & analytics
OFF-MARKET
Estimated value
$4,795,000
Manufacturing properties
423 15th St Panama City, FL 32405-5410
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-4843308
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
47,110 SF
Lot
8.88 ac (386,769 SF)
Zoning code
PC09
APN
14471-000-000
UPID
US18-4843308
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
-
Concrewall USA Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.69M
CAP Approach
CAP
$4.78M
Comparable Approach
Comparable
$6.01M
Blend (final)
Blend
$4.80M
Owner & transaction history
Air Temp Of America LLC · 3 yrs held
Air Temp Of America LLC
since 2023
Last sale
$5.0M
7 recorded transactions
Zoning & alternative use
PC09 · Panama City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$7.3M
+96.8%
Commercial (general)
$6.9M
+85.7%
Medical building
$5.9M
+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
$4,265,000
ML approach
$4,685,000
CAP Approach
CAP Return
Estimation
6%
$5,175,000
6.5%
$4,775,000
7%
$4,435,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,700,000
Current use
RETAIL STORES
$7,280,000
Change: +97% · Conversion: Moderate
COMMERCIAL (GENERAL)
$6,865,000
Change: +86% · Conversion: Difficult
MEDICAL BUILDING
$5,945,000
Change: +61% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,070,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$4.80M
Range $4.32M – $5.27M · ±10% · vs last sale $5.00M (Apr 14 2023)
Last sale anchor
$5.00M
Apr 14 2023
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
$102 / 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
$54,622
Tax year 2023
Assessed value
$4,245,143
Assessed 2023
Previous assessed
$4,245,143
+0.0% YoY
Effective rate
1.29%
On assessed value
Assessed land
$1,303,651
Assessed improvement
$2,941,492
Land market value
$1,303,651
Improvement market value
$2,941,492
Total market value
$4,245,143
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
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Stories
2
Units
1
Rooms
11
Total area
47,110 SF
Lot
8.88 ac (386,769 SF)
Zoning code
PC09
APN
14471-000-000
UPID
US18-4843308
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
INDUSTRIAL (GENERAL) Current
Est. value
$3.7M
RETAIL STORES
Est. value
$7.3M
COMMERCIAL (GENERAL)
Est. value
$6.9M
MEDICAL BUILDING
Est. value
$5.9M
WAREHOUSE, STORAGE
Est. value
$3.1M
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
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
3
Units
1
Rooms
11
Lot
8.88 ac
Current owner
From public records · entity-resolved
Air Temp Of America LLC
Entity
Free & Clear · 3 yrs held
Mailing address
17216 PANAMA CITY BCH PKWY, PANAMA CITY BEACH, FL 32413-5228
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
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
Apr 14, 2023
—
Air Temp Of America LLC
423 East 15th Street LLC
Assignment Of Lease (leasehold Sale)
—
Apr 14, 2023
$5,000,000
423 East 15th Street LLC
Air Temp Of America INC
Special Warranty Deed
—
May 15, 2015
—
Whitney Bk
Boyd Brothers INC Coc
Trustees Deed
related
—
Dec 13, 2010
—
Boyd Brothers INC
—
Deed Of Trust
related
$7,500,000 · Peoples First Community Bank
Sep 10, 2007
—
Boyd Brothers INC
—
Trustees Deed
related
$1,244,000 · Peoples First Community Bank
Jan 17, 2007
$1,450,000
Boyd Brothers INC
Voyles,russell O JR
Grant Deed
$2,650,000 · Peoples First Community Bank
Mar 2, 2006
$1,250,000
Russell O Voyles JR.
Sullivan,francis O & Jacqueline M
Warranty Deed
$1,150,000 · Francis O & Jacqueline M Sullivan
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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