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Property profile & analytics
FOR LEASE
Medical Office Space
5620 Cherry St, Panama City, FL 32404
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US19-0908421
For Lease
1 / 6
$15 SF/Yr
5620 Cherry St, Panama City, FL 32404
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1986
Construction
WOOD
Total area
4,880 SF
Lot
0.83 ac (36,300 SF)
Zoning code
CLWY04
APN
07034-030-001
UPID
US19-0908421
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
-
Vital Care of Panama City Pharmacy
-
Greco Jessica MD Physician
-
Dr. Ducthanh Vu Physician
-
First Choice Physical Therapy Physician
-
PHCS Sleep Therapy Specialist Production Facility
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
Fcpt Holdings LLC · 5 yrs held
Fcpt Holdings LLC
since 2021
Last sale
$500,000
7 recorded transactions
Zoning & alternative use
CLWY04 · 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
$5,645
Tax year 2023
Assessed value
$406,321
Assessed 2023
Previous assessed
$389,968
+4.2% YoY
Effective rate
1.39%
On assessed value
Assessed land
$102,366
Assessed improvement
$303,955
Land market value
$102,366
Improvement market value
$303,955
Total market value
$406,321
Applied tax rate
2.0000
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
For Lease
Year built
1986
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
24
Total area
4,880 SF
Lot
0.83 ac (36,300 SF)
Zoning code
CLWY04
APN
07034-030-001
UPID
US19-0908421
Jurisdiction
BAY
Zoning & alternative use
CLWY04 · Panama City, FL
Zoning CLWY04 · permitted uses
CLWY04 · 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
1986
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
24
Lot
0.83 ac
Current owner
From public records · entity-resolved
Fcpt Holdings LLC
Entity
Mailing address
2300 JENKS AVE STE C, LYNN HAVEN, FL 32444-5469
Ownership since
2021
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 12, 2021
$500,000
Fcpt Holdings LLC
Mac Properties Of Bay Co LLC
Warranty Deed
$533,085 · The First A National Banking Assn
Jan 15, 2008
—
Mac Props Of Bay Cnty LLC
Mclelland,scott D & Connie T
Warranty Deed
—
Jan 9, 2007
$590,000
Scott D Mclelland
Prime Properties Of Panama City
Warranty Deed
$500,000 · Trustmark National Bank
Dec 9, 2004
$300,000
Prime Props Of Panama City Fl LLC
Jesalva Orlando J Trust
Warranty Deed
$320,000 · Regions Bank
—
—
Scott D Mclelland
—
Deed Of Trust
related
$500,000 · Trustmark National Bank
—
—
Scott D Mclelland
—
Deed Of Trust
related
—
—
—
Mac Properties Of Bay County LLC
—
Deed Of Trust
related
$393,357 · Trustmark National 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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