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    5220 Cherry St Panama City, FL 32404

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    5220 Cherry St Panama City, FL 32404

    View on Map
    • Office Units
    • 1,400 SF
    Off-Market
    Property ID
    US18-9148772
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Units

    Property Details for 5220 Cherry St

    Year built
    1959
    Property size
    1,400 SF
    Property type
    Office Units
    Property subtype
    Single family properties

    Description

    Versatile Corner Lot Gem with Mixed-Use Zoning! Discover an exceptional opportunity in this large home situated on a prominent corner lot, offering a highly convenient location. Boasting ''mixed use'' zoning, this property presents incredible potential, whether you envision it as a spacious residence or a strategic office space for your business. Currently configured as a 3-bedroom, 1-bathroom home, it features a functional kitchen, an inside laundry room for added convenience, a comfortable living room, and a generously sized family room complete with a cozy fireplace. Outside, you'll find a large carport and an expansive corner lot, just under half an acre, providing ample space and visibility. While the roof was replaced in 2019, please note there is still some remaining damage from Hurricane Michael. Capitalize on this great deal and explore the myriad possibilities this unique property offers! (all sizes approximate and taken from public records, buyer to verify any details buyer deems important).

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Walton
    State
    Florida
    Longitude
    -85.5956029
    Latitude
    30.1453871

    Comparable in this City

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      Corner Parcel Development Opportunity

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    Similar Nearby for Sale

    • $240,000
      1,072 SF

      Mixed-Use Corner Lot Opportunity

      Mixed-use corner lot with office, storage, and slab.
      1206 Bob Little Rd, Panama City, FL 32404
      View Details
    • $240,000
      1,072 SF

      Mixed-Use Corner Lot Opportunity

      Mixed-use corner lot with office, storage, and development potential.
      1206 Bob Little Rd, Panama City, FL 32404
      View Details
    • Contact for pricing
      21,184 SF

      Renovated Mixed-Use Commercial Opportunity

      21,184 sq ft mixed-use property in Panama City, FL.
      5420 Hickory St, Panama City, FL 32404
      View Details
    • $355,000
      273,557 SF

      Corner Parcel Development Opportunity

      6.281-acre corner parcel ideal for commercial or mixed-use development.
      2328 Transmitter Rd, Panama City, FL 32404
      View Details
    • $349,999

      Commercial Lot Zoned Mixed Use

      Commercial lot zoned mixed use with construction documents ready.
      250 N Tyndall Pkwy, Panama City, FL 32404
      View Details
    • $789,000
      5,000 SF

      Panama City Commercial Facility

      5,000 SF commercial facility in high-traffic Panama City location.
      5409 Hickory St, Panama City, FL 32404
      View Details

    Similar Nearby for Lease

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      21,184 SF

      Renovated Mixed-Use Panama City Property

      21,184 sq ft mixed-use property for rent in Panama City.
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      Unique Mixed-Use Property For Lease

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      Office Space Vanilla Shell

      Vanilla shell office space available in Panama City, Florida.
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    • $15 SF/Yr
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      Office Space in Panama City

      Vanilla shell office space available in Panama City, Florida.
      5620 Cherry St Unit, Panama City, FL 32404
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    Panama City, FL 32404
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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