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Property profile & analytics
OFF-MARKET
Estimated value
$2,150,000
Industrial land
Frankford Ave Panama City, FL 32405
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-7475426
Property profile
Verified
Property type
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Year built
1979
Total area
6,414 SF
Lot
9 ac (392,040 SF)
Zoning code
PC11
APN
26658-040-000
UPID
US18-7475426
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
$2.10M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.15M
Owner & transaction history
Royal American Real Estate INC · 3 yrs held
Royal American Real Estate INC
since 2022
Last sale
$2.3M
4 recorded transactions
Zoning & alternative use
PC11 · Panama City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Auto repair, garage
$3.1M
+511.4%
Restaurant
$1.6M
+208.5%
Office building
$1.4M
+171.9%
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
$1,895,000
ML approach
$2,095,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$3,080,000
Change: +511% · Conversion: Easy
RESTAURANT
$1,555,000
Change: +209% · Conversion: Difficult
OFFICE BUILDING
$1,370,000
Change: +172% · Conversion: Difficult
Blend value · Realmo final
$2.15M
Range $1.94M – $2.37M · ±10% · vs last sale $2.30M (Aug 18 2022)
Last sale anchor
$2.30M
Aug 18 2022
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
$335 / 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
$31,900
Tax year 2023
Assessed value
$1,987,073
Assessed 2023
Previous assessed
$1,882,944
+5.5% YoY
Effective rate
1.61%
On assessed value
Assessed land
$1,973,203
Assessed improvement
$13,870
Land market value
$1,973,203
Improvement market value
$13,870
Total market value
$1,987,073
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
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Status
Off-Market
Year built
1979
Heating
NONE
Stories
1
Rooms
8
Total area
6,414 SF
Lot
9 ac (392,040 SF)
Zoning code
PC11
APN
26658-040-000
UPID
US18-7475426
Jurisdiction
BAY
Zoning & alternative use
PC11 · Panama City, FLZoning PC11 · permitted uses
PC11 · Panama City, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$3.1M
RESTAURANT
Est. value
$1.6M
OFFICE BUILDING
Est. value
$1.4M
AUTO REPAIR, GARAGE
RESTAURANT
OFFICE 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
1979
Heating
NONE
Stories
1
Rooms
8
Lot
9 ac
Current owner
From public records · entity-resolved
Royal American Real Estate INC
Entity
Free & Clear · 3 yrs held
Mailing address
1022 W 23RD ST, PANAMA CITY, FL 32405-3689
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Aug 18, 2022
—
Royal American Real Estate INC
Southern Coastal Homes INC
Quit Claim Deed
related
—
Jul 26, 2022
$2,500,000
Royal American Real Estate INC
Southern Cat INC
Correction Deed
related
—
Jul 9, 2021
$2,300,000
Southern Cat INC
Bd Panama City I LLC
Special Warranty Deed
$1,725,000 · Servisfirst Bank
Sep 30, 1997
$332,500
Finch W D
Bay Bank Trust Co
Grant Deed
$266,000 · Bay Bank Trust Co
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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