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Property profile & analytics
OFF-MARKET
Estimated value
$5,205,000
Warehouses
Panama City, FL 32404
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-4946921
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2021
Construction
STEEL FRAME
Total area
30,024 SF
Lot
8.99 ac (391,822 SF)
Zoning code
BC05
APN
11908-005-000
UPID
US18-4946921
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
$5.21M
CAP Approach
CAP
$3.50M
Comparable Approach
Comparable
$3.72M
Blend (final)
Blend
$5.21M
Owner & transaction history
Carter Lumber Of The South INC · 1 yrs held
Carter Lumber Of The South INC
since 2024
Last sale
$5.2M
1 recorded transaction
Zoning & alternative use
BC05 · Panama City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.3M
+210.6%
Office building
$6.4M
+173.8%
Retail stores
$4.3M
+84.4%
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
$5,205,000
ML approach
$5,205,000
CAP Approach
CAP Return
Estimation
6%
$3,790,000
6.5%
$3,500,000
7%
$3,250,000
Alternative Use
Use
Estimation
RESTAURANT
$7,270,000
Change: +211% · Conversion: Difficult
OFFICE BUILDING
$6,410,000
Change: +174% · Conversion: Difficult
RETAIL STORES
$4,315,000
Change: +84% · Conversion: Moderate
COMMERCIAL (GENERAL)
$4,280,000
Change: +83% · Conversion: Difficult
MEDICAL BUILDING
$3,565,000
Change: +52% · Conversion: Difficult
Blend value · Realmo final
$5.21M
Range $4.68M – $5.73M · ±10% · vs last sale $5.21M (Oct 23 2024)
Last sale anchor
$5.21M
Oct 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
$173 / 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
$38,949
Tax year 2023
Assessed value
$3,110,265
Assessed 2023
Previous assessed
$3,110,265
+0.0% YoY
Effective rate
1.25%
On assessed value
Assessed land
$370,120
Assessed improvement
$2,740,145
Land market value
$370,120
Improvement market value
$2,740,145
Total market value
$3,110,265
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
Buildings
2
Total area
30,024 SF
Lot
8.99 ac (391,822 SF)
Zoning code
BC05
APN
11908-005-000
UPID
US18-4946921
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
RESTAURANT
Est. value
$7.3M
OFFICE BUILDING
Est. value
$6.4M
RETAIL STORES
Est. value
$4.3M
COMMERCIAL (GENERAL)
Est. value
$4.3M
MEDICAL BUILDING
Est. value
$3.6M
RESTAURANT
OFFICE BUILDING
RETAIL STORES
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
2021
Construction
STEEL FRAME
Buildings
2
Lot
8.99 ac
Current owner
From public records · entity-resolved
Carter Lumber Of The South INC
Entity
Free & Clear · 1 yrs held
Mailing address
601 TALLMADGE RD, KENT, OH 44240-7331
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 23, 2024
$5,205,000
Carter Lumber Of The South INC
Townbro LLC
Special Warranty Deed
—
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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