Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    4100 Highway 98 Panama City, FL 32405

    • Turn key restaurants
    • 2,210 SF
    • 0.15 lot acres
    For Sale
    View listing
    $2,144,900
    Last Sale
    Aug 15, 2024
    $160,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3128788
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • The Ice Cream Shop ( Ramon's Pizza) / Pizza Restaurant / Ice Cream Shop

    Property Details for 4100 Highway 98

    Year built
    1979
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.15 lot acres
    Property size
    2,210 SF
    Zone code
    PC09
    Property type
    Turn key restaurants
    APN
    28215-000-000
    APU
    28215000000

    Description

    This exceptional 78,408 sq ft commercial property, located at 4100 W Hwy 98 in Panama City, Florida (zip code 32405), presents a unique investment opportunity. Built in 1983, the property boasts a versatile layout currently encompassing a restaurant, mini-warehouses, and residential rental units. Its strategic corner location at the intersection of Hwy 98 and Grant Avenue offers significant visibility and accessibility. The property measures approximately 330 feet along Hwy 98 and 232 feet along Grant Avenue. The asking price is $2,144,900. Its diverse existing uses and substantial size suggest significant development potential. The property's zoning and permitted uses should be verified independently. Consider the possibilities for a motel, gas station, or fast-food establishment, capitalizing on the high traffic volume of this prime location. This is an ideal opportunity for an investor seeking a multi-faceted commercial property with substantial upside potential in a thriving Florida market. The property is classified as Special Purpose.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $160,000
      ML approach
      $160,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $162,000
      Market price range: $125k - $324k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Bay
    State
    Florida
    Longitude
    -85.7131
    Latitude
    30.181
    CBSA code
    37460
    CBSA name
    PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,675
    $67,980
    $79,661
    $147,641
    -
    $67,980
    $79,661
    $147,641

    Comparable in this City

    • Value Estimation
      $220,000
      2,875 SF

      131 Harrison Ave

      RESTAURANT • 2,875 SF
      131 Harrison Ave, Panama City, FL 32401-2725
      View Details
    • Value Estimation
      $265,000
      5,331 SF

      620 Bch Dr

      RESTAURANT • 5,331 SF
      620 Bch Dr, Panama City, FL 32401-2316
      View Details
    • Value Estimation
      $290,000
      9,054 SF

      1110 Beck Ave

      RESTAURANT • 9,054 SF
      1110 Beck Ave, Panama City, FL 32401-1457
      View Details
    • Value Estimation
      $350,000
      1,192 SF

      1322 Beck Ave

      RESTAURANT • 1,192 SF
      1322 Beck Ave, Panama City, FL 32401-1341
      View Details
    • Value Estimation
      $210,000
      1,394 SF

      119 Harrison Ave

      RESTAURANT • 1,394 SF
      119 Harrison Ave, Panama City, FL 32401-2725
      View Details
    • Value Estimation
      $325,000
      1,651 SF

      1147 Harrison Ave

      RESTAURANT • 1,651 SF
      1147 Harrison Ave, Panama City, FL 32401-2430
      View Details

    Similar Nearby for Sale

    • $649,000
      0.67 Acres

      Prime Commercial Lot on Highway

      0.67-acre commercial lot on Highway 98, Panama City, FL.
      4305 Highway 98 W, Panama City, FL 32401
      View Details
    • $2,500,000
      6,280 SF

      Panama City Restaurant - $2.5M

      Prime Restaurant Space, 6,280 sq ft, Vacant
      1031 15Th St, Panama City, FL 32401
      View Details
    • $433,000
      2,850 SF

      Prime Panama City Retail Space

      1-Acre Commercial Lot, 2,850 SF Building
      922 East Ave, Panama City, FL 32401
      View Details
    • $3,807,383
      7,020 SF

      Prime Panama City Retail Investment

      Safelite-Leased Building, High Traffic
      1415 Frankford Ave, Panama City, FL 32401
      View Details
    • $499,000
      7,900 SF

      Historic St. Andrews Design Salvage Building

      7,900 SF mixed-use building, prime location.
      2801 W 12th St, Panama City, FL 32401
      View Details
    • $240,000
      912 SF

      High-Traffic Corner Property For Sale

      Centrally located property with high visibility and versatile potential.
      1216 N Martin Luther King Jr Blvd, Panama City, FL 32401
      View Details

    Similar Nearby for Lease

    • $9,800 /Mo

      Restaurant Space at Sun Harbor Marina

      Two-story restaurant space available for lease at Sun Harbor Marina.
      5300 Bus, Panama City, FL 32401
      View Details
    • $15 SF/Yr
      2,784 SF

      Downtown Panama City Commercial Space

      Versatile 2700 SF Office/Retail Space
      416 Jenks Ave, Panama City, FL 32401
      View Details
    • $2,500 /Mo

      Prime Commercial Lot on Hwy 98

      0.67-acre commercial lot with utilities and drive-through potential.
      4305 Highway 98 W, Panama City, FL 32401
      View Details
    • $18 SF/Yr
      3,891 SF

      Renovated Retail Space For Rent

      3,891 SF ground floor retail space in downtown Panama City.
      638 Harrison Ave, Panama City, FL 32401
      View Details
    • $24 SF/Yr
      1,075 SF

      Prime Retail Space - Transmitter Rd.

      Brand new, 1,075 sq ft retail space.
      1009 Transmitter Rd, Panama City, FL 32401
      View Details
    • $3,500 /Mo
      Pending

      Downtown Panama City Retail Opportunity

      2500 sq ft commercial space in downtown Panama City.
      27 Harrison Ave, Panama City, FL 32401
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4100 Highway 98
    Panama City, FL 32405
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.