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Property profile & analytics
OFF-MARKET
Medical Office Space
504 Macarthur Ave, Panama City, FL 32401-3636
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US18-3909685
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1985
Construction
WOOD
Total area
3,431 SF
Lot
0.41 ac (17,820 SF)
Zoning code
PC09
APN
21087-000-000
UPID
US18-3909685
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
-
General Electric Capital Corporation Electrical Service General Contractor
-
Nephrology Associates: Walker Jr Richard F MD Physician Medical Clinic
-
Ronald Sinicrope, MD Physician Medical Clinic
-
Patricia A. Newell, ARNP Physician
-
Nephrology Associates, P.A. Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Bay Dev III LLC · 8 yrs held
Bay Dev III LLC
since 2017
7 recorded transactions
Zoning & alternative use
PC09 · Panama City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$13,354
Tax year 2023
Assessed value
$756,801
Assessed 2023
Previous assessed
$745,685
+1.5% YoY
Effective rate
1.76%
On assessed value
Assessed land
$89,100
Assessed improvement
$667,701
Land market value
$89,100
Improvement market value
$667,701
Total market value
$756,801
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1985
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
20
Total area
3,431 SF
Lot
0.41 ac (17,820 SF)
Zoning code
PC09
APN
21087-000-000
UPID
US18-3909685
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.
Building & site characteristics
From public records
Year built
1985
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
20
Lot
0.41 ac
Current owner
From public records · entity-resolved
Bay Dev III LLC
Entity
Mailing address
PO BOX 460049, HOUSTON, TX 77056-8049
Ownership since
2017
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
Jun 11, 2025
—
Benjamin Mcgee
—
Deed
related
$432,000 · Paramount Residential Mortgage Group
Sep 12, 2017
—
Bay Dev III LLC
—
Deed
related
$3,440,000 · Oklahoma Fidelity Bk
Aug 2, 2017
$898,000
Bay Dev III LLC
504 Nephron LLC
Grant Deed
—
Jul 13, 2001
—
504 Nephron LLC
Sinicrope,ronald A
Grant Deed
$550,000 · Suntrust Bank NA
—
—
504 Nephron LLC
—
Deed Of Trust
related
$360,000 · Prosperity Bank
—
—
Bay Dev III LLC
—
Deed Of Trust
related
$3,440,000 · Oklahoma Fidelity Bk
—
—
504 Nephron LLC
—
Deed Of Trust
related
$535,500 · Summit Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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