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Property profile & analytics
OFF-MARKET
Estimated value
$3,080,000
Hotels
1110 24th St Panama City, FL 32405-5245
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US18-2026849
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2007
Construction
WOOD
Total area
28,813 SF
Lot
1.65 ac (71,988 SF)
Zoning code
PC09
APN
12848-000-000
UPID
US18-2026849
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
Current use
Occupant on record · Public records
-
Microtel Inn & Suites by Wyndham Panama City Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.99M
CAP Approach
CAP
$2.78M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.08M
Owner & transaction history
Rudra P INC · 5 yrs held
Rudra P INC
since 2020
Last sale
$3.1M
7 recorded transactions
Zoning & alternative use
PC09 · Panama City, FL
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
$3,095,000
ML approach
$2,990,000
CAP Approach
CAP Return
Estimation
6%
$3,010,000
6.5%
$2,780,000
7%
$2,580,000
Blend value · Realmo final
$3.08M
Range $2.77M – $3.39M · ±10% · vs last sale $3.12M (Dec 2 2020)
Last sale anchor
$3.12M
Dec 2 2020
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
$107 / 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
$46,612
Tax year 2023
Assessed value
$2,666,892
Assessed 2023
Previous assessed
$2,684,051
-0.6% YoY
Effective rate
1.75%
On assessed value
Assessed land
$283,590
Assessed improvement
$2,383,302
Land market value
$283,590
Improvement market value
$2,383,302
Total market value
$2,666,892
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
2007
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Stories
3
Units
63
Rooms
63
Total area
28,813 SF
Lot
1.65 ac (71,988 SF)
Zoning code
PC09
APN
12848-000-000
UPID
US18-2026849
Jurisdiction
BAY
Zoning & alternative use
PC09 · Panama City, FLZoning PC09 · permitted uses
PC09 · 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
Building & site characteristics
From public records
Year built
2007
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
3
Units
63
Rooms
63
Lot
1.65 ac
Current owner
From public records · entity-resolved
Rudra P INC
Entity
Mailing address
5711 E HWY 98, PANAMA CITY, FL 32404-7230
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 24, 2023
—
Rudrap INC
—
Deed
related
$5,827,000 · Trustmark National Bank
Dec 2, 2020
$3,115,000
Rudra P INC
Shri Krishnay Namah INC
Warranty Deed
$2,336,250 · Peoplessouth Bank
Jun 1, 2016
—
Shri Krishnay Namah INC
—
Deed
related
$2,600,000 · Pacific City Bank
Nov 26, 2003
$675,000
Hayden Investments INC
Panama City Land Holdings LLC
Grant Deed
$400,000 · Vision Bank Fsb
Sep 19, 2002
$11,000
Department Of Transportation
Panama City Oil & Gas LLC
Grant Deed
—
May 17, 2002
$378,900
Panama Oil & Gas LLC
Noric/pc Development Co LLC
Grant Deed
—
May 17, 2002
$716,600
Panama City Land Holdings LLC
Noric/pc Development Co LLC
Grant Deed
related
—
Jun 6, 2000
$770,000
Noric PC Development Company
Phillpott,james W
Grant Deed
$690,409 · Regions Bank
—
—
Shri Krishnay Namah INC
—
Deed Of Trust
related
$3,200,000 · Mid South Bank
—
—
Shari Krishnay Namah INC
—
Deed Of Trust
related
$278,574 · Mid South Bank
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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