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Property profile & analytics
OFF-MARKET
Estimated value
$1,130,000
Retail space
5637 Hwy 231 Panama City, FL 32404-8936
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-0603120
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1945
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,801 SF
Lot
3.19 ac (138,956 SF)
Zoning code
BC05
APN
05856-000-000
UPID
US18-0603120
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.04M
CAP Approach
CAP
$1.49M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.13M
Owner & transaction history
Trailer World Of Panama City LLC · 2 yrs held
Trailer World Of Panama City LLC
since 2023
Last sale
$1.2M
4 recorded transactions
Zoning & alternative use
BC05 · Panama City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.9M
+48.5%
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
$1,040,000
ML approach
$1,035,000
CAP Approach
CAP Return
Estimation
6%
$1,605,000
6.5%
$1,485,000
7%
$1,375,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,265,000
Current use
OFFICE BUILDING
$1,880,000
Change: +48% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,255,000
Change: -1% · Conversion: Easy
MEDICAL BUILDING
$1,045,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$1.13M
Range $1.02M – $1.24M · ±10% · vs last sale $1.22M (Oct 25 2023)
Last sale anchor
$1.22M
Oct 25 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
$128 / 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
$2,373
Tax year 2023
Assessed value
$173,546
Assessed 2023
Previous assessed
$161,683
+7.3% YoY
Effective rate
1.37%
On assessed value
Assessed land
$143,550
Assessed improvement
$29,996
Land market value
$143,550
Improvement market value
$29,996
Total market value
$173,546
Applied tax rate
55.0000
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 space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1945
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Stories
1
Rooms
1
Bathrooms
2
Total area
8,801 SF
Lot
3.19 ac (138,956 SF)
Zoning code
BC05
APN
05856-000-000
UPID
US18-0603120
Jurisdiction
BAY
Zoning & alternative use
BC05 · Panama City, FL
Zoning BC05 · permitted uses
BC05 · 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
RETAIL STORES Current
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.0M
RETAIL STORES Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1945
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Rooms
1
Bathrooms
2
Lot
3.19 ac
Current owner
From public records · entity-resolved
Trailer World Of Panama City LLC
Entity
Mailing address
1936 COUNTY RD 11, OZARK, AL 36360-6532
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 25, 2023
$1,220,000
Trailer World Of Panama City LLC
Roger D Parker
Warranty Deed
$800,000 · Roger D Parker Etal
Sep 9, 2022
$475,000
Concept Development INC
The Roger D Parker Trust
Warranty Deed
—
Jan 30, 2017
—
Parker,roger D Trust
Parker,roger D
Quit Claim Deed
related
—
Dec 18, 2000
$300,000
Roger D Parker
Boase,charles A
Grant Deed
$270,000 · Seller
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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