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Property profile & analytics
OFF-MARKET
Estimated value
$195,000
Retail properties & Spaces
119 15th St Panama City, FL 32401-2228
Entity Owned
1-yr Hold
Free & Clear
Property ID
US18-6087972
Property profile
Verified
Property type
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,692 SF
Lot
0.54 ac (23,380 SF)
Zoning code
PC09
APN
18369-000-000
UPID
US18-6087972
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
-
Grease Pro Tire and Auto Repair Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$631k
Blend (final)
Blend
$195k
Owner & transaction history
State Of Florida Department Of Tran · 1 yrs held
State Of Florida Department Of Tran
since 2025
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
$880,000
Current use
Blend value · Realmo final
$195k
Range $176k – $215k · ±10%
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
$34 / 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
$4,539
Tax year 2023
Assessed value
$300,160
Assessed 2023
Previous assessed
$225,521
+33.1% YoY
Effective rate
1.51%
On assessed value
Assessed land
$240,813
Assessed improvement
$59,347
Land market value
$240,813
Improvement market value
$59,347
Total market value
$300,160
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
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Status
Off-Market
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Stories
2
Total area
5,692 SF
Lot
0.54 ac (23,380 SF)
Zoning code
PC09
APN
18369-000-000
UPID
US18-6087972
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
Alternative use value scenarios
Repositioning upside vs current use
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
Est. value
$880,000
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
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
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
2
Lot
0.54 ac
Current owner
From public records · entity-resolved
State Of Florida Department Of Tran
Entity
Free & Clear · 1 yrs held
Mailing address
3136 HWY 77, PANAMA CITY, FL 32405-5006
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 24, 2025
—
State Of Florida Department Of Tran
Grease Pro INC
Quitclaim Deed
related
—
Dec 18, 2020
—
James A Lovett
—
Deed
related
$1,270,000 · Us Small Busn Admn
Mar 4, 2019
—
James Aaron Lovett
—
Deed
related
$1,317,200 · United States Small Business Admin
Apr 16, 2007
—
Jal 109 LLC
Lovett,james A & Jacquelyn G
Quit Claim Deed
related
—
Oct 30, 2001
$355,000
Aaron Lovett
Wade & Wade Holding Co LLC
Grant Deed
$375,000 · Wade & Wade Holding Co LLC
Nov 19, 1997
$2,800
Panama City
Stuman & Wade Holding Co LLC
Grant Deed
related
—
—
—
James A Lovett
—
Loan Modification
related
$1,270,000 · Us Small Busn Admn
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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