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Property profile & analytics
OFF-MARKET
Estimated value
$600,000
Warehouses
6909 Hwy 22 Panama City, FL 32404-2370
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-1687332
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2021
Construction
STEEL FRAME
Total area
5,000 SF
Lot
1 ac (43,700 SF)
Zoning code
BC04
APN
06430-010-000
UPID
US18-1687332
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
$600k
CAP Approach
CAP
$585k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$600k
Owner & transaction history
Recoil LLC · 2 yrs held
Recoil LLC
since 2024
Last sale
$600,000
7 recorded transactions
Zoning & alternative use
BC04 · Panama City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$720,000
+84.4%
Commercial (general)
$715,000
+82.9%
Medical building
$595,000
+52.2%
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
$600,000
ML approach
$600,000
CAP Approach
CAP Return
Estimation
6%
$630,000
6.5%
$585,000
7%
$540,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$390,000
Current use
RETAIL STORES
$720,000
Change: +84% · Conversion: Moderate
COMMERCIAL (GENERAL)
$715,000
Change: +83% · Conversion: Difficult
MEDICAL BUILDING
$595,000
Change: +52% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$395,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$600k
Range $540k – $660k · ±10% · vs last sale $600k (Apr 23 2024)
Last sale anchor
$600k
Apr 23 2024
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
$120 / 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
$3,733
Tax year 2023
Assessed value
$292,720
Assessed 2023
Previous assessed
$292,720
+0.0% YoY
Effective rate
1.28%
On assessed value
Assessed land
$218,500
Assessed improvement
$74,220
Land market value
$218,500
Improvement market value
$74,220
Total market value
$292,720
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2021
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Stories
2
Units
18
Rooms
6
Bathrooms
2
Total area
5,000 SF
Lot
1 ac (43,700 SF)
Zoning code
BC04
APN
06430-010-000
UPID
US18-1687332
Jurisdiction
BAY
Zoning & alternative use
BC04 · Panama City, FL
Zoning BC04 · permitted uses
BC04 · 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
WAREHOUSE, STORAGE Current
Est. value
$390,000
RETAIL STORES
Est. value
$720,000
COMMERCIAL (GENERAL)
Est. value
$715,000
MEDICAL BUILDING
Est. value
$595,000
INDUSTRIAL (GENERAL)
Est. value
$395,000
WAREHOUSE, STORAGE Current
RETAIL STORES
COMMERCIAL (GENERAL)
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
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
2021
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
2
Units
18
Rooms
6
Bathrooms
2
Lot
1 ac
Current owner
From public records · entity-resolved
Recoil LLC
Entity
Mailing address
6909 EE HWY, PANAMA CITY, FL 32404
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 23, 2024
$600,000
Recoil LLC
Storage Stuff LLC
Warranty Deed
$450,000 · Cadence Bank NA
May 7, 2021
$115,000
Jason P Oakes
Badia Serices INC
Correction Deed
related
—
Apr 29, 2021
$475,000
Storage For Stuff LLC
Jason P Oakes
Warranty Deed
—
Nov 19, 2020
—
Oakes,jason P Trust
—
Deed
related
$208,000 · Bancorpsouth
Jul 13, 2020
$115,000
Oakes,jason P Trust
Badia Svcs INC
Warranty Deed
$92,000 · Bancorpsouth
Dec 23, 2014
$200,000
Badia Services INC
Whitney Bank
Special Warranty Deed
$166,350 · Hancock Bank
Sep 20, 2013
—
Bk Hancock
Nichols Trailer INC
Quit Claim Deed
related
—
Sep 20, 2013
$225,000
Bk Hancock
Nichols,frances E & Russel A SR
Warranty Deed
related
—
Nov 1, 2000
$99,000
Russel A Nichols
Mccellan,virginia M
Grant Deed
—
—
—
Virginia M Mcclellan
—
Deed Of Trust
related
$57,750 · Contimortgage Corp
—
—
Russell A Nichols
—
Deed Of Trust
related
$192,000 · Peoples First Community Bank
—
—
Oakes,jason P Trust
—
Loan Modification
related
$208,000 · Bancorpsouth
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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