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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1621 Transmitter Rd Panama City, FL 32404-3149

    • Office Properties & Spaces
    • 1,920 SF
    • 5.00 lot acres
    OFF-MARKET
    Value Estimations
    $260,000
    Show details
    Cap Rate Potential
    8.7%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US19-0818121
    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

    • Pettibone Concrete / Contractor

    Property Details for 1621 Transmitter Rd

    Year built
    1973
    Construction
    STEEL FRAME
    Lot size
    5.00 lot acres
    Property size
    1,920 SF
    Property type
    Office Properties & Spaces
    APN
    14819-000-000
    APU
    14819000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $225,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $325,000
      6.5%
      $300,000
      7%
      $280,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $275,000
      Current use
      RETAIL STORES
      $275,000
      Change: +1% Conversion: Easy
      MEDICAL BUILDING
      $230,000
      Change: -17% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Bay
    State
    Florida
    Longitude
    -85.6089
    Latitude
    30.1781
    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
    $8,045
    $200,000
    $278,266
    $478,266
    -
    $200,000
    $278,266
    $478,266

    Comparable in this City

    • Value Estimation
      $235,000
      354 SF

      5321 Hwy 98

      OFFICE (GENERAL) • 354 SF
      5321 Hwy 98, Panama City, FL 32404
      View Details
    • Value Estimation
      $200,000
      1,072 SF

      5103 12th St

      OFFICE (GENERAL) • 1,072 SF
      5103 12th St, Panama City, FL 32404-9425
      View Details
    • Value Estimation
      $120,000
      3,800 SF

      234 Sudduth Pla-b

      OFFICE (GENERAL) • 3,800 SF
      234 Sudduth Pla-b, Panama City, FL 32404
      View Details
    • Value Estimation
      $310,000
      1,864 SF

      12908 Airway St

      OFFICE (GENERAL) • 1,864 SF
      12908 Airway St, Panama City, FL 32404-2833
      View Details
    • Value Estimation
      $85,000
      4,991 SF

      10508 Bear Crk Rd

      OFFICE (GENERAL) • 4,991 SF
      10508 Bear Crk Rd, Panama City, FL 32404-4816
      View Details
    • Value Estimation
      $205,000
      3,142 SF

      282 Kimbrel Ave

      OFFICE (GENERAL) • 3,142 SF
      282 Kimbrel Ave, Panama City, FL 32404-7533
      View Details

    Similar Nearby for Sale

    • $410,000
      2,768 SF

      Prime Panama City Office Building

      Spacious Office, High Traffic Area, $410,000
      247 Highway 22 A, Panama City, FL 32404
      View Details
    • $159,900
      1,400 SF

      Corner Lot Mixed-Use Potential

      Large corner lot with mixed-use zoning, ideal for residence or office.
      5220 Cherry St, Panama City, FL 32404
      View Details
    • $2,400,000
      21,184 SF

      Prime Panama City Office Building

      21,184 SF Office, $2.4M, Mixed-Use
      5420 Hickory St, Panama City, FL 32404
      View Details
    • $189,900
      1,400 SF

      5220 Cherry Street

      Office Properties & Spaces • 1,400 SF
      5220 Cherry St, Panama City, FL 32404
      View Details
    • $2,199,000
      21,184 SF

      Renovated Mixed-Use Panama City Property

      21,184 sq ft renovated commercial space on 2.5 acres.
      5420 Hickory St, Panama City, FL 32404
      View Details
    • $299,900
      0.77 Acres

      Highway 22 Commercial Property

      Commercial property on Highway 22 East with high traffic count.
      6913 Highway 22, Panama City, FL 32404
      View Details

    Similar Nearby for Lease

    • $2,400,000
      20,000 SF

      Versatile Panama City Office Asset

      20,000 SF office building with flexible floorplate and ample parking.
      230 N Tyndall Pkwy, Panama City, FL 32404
      View Details
    • $3,500 /Mo

      Versatile Commercial Space Near Highway

      Flexible leasing options ideal for various business needs.
      6804 Bayou George Dr, Panama City, FL 32404
      View Details
    • $2,500 /Mo
      1,552 SF

      Callaway Office/Retail Space For Rent

      Well-appointed commercial space on Tyndall Parkway, Callaway, FL.
      717 S Tyndall Pkwy, Panama City, FL 32404
      View Details
    • Contact for pricing
      1,000 SF

      Waterfront Office Park For Rent

      Four-building office park with waterfront views and convenient location.
      719 S Berthe Ave, Panama City, FL 32404
      View Details
    • $15 SF/Yr
      10,168 SF

      Office Space Vanilla Shell Available

      Vanilla shell office space in a prime location available for rent.
      5620 Cherry St, Panama City, FL 32404
      View Details
    • $2,850 /Mo
      Pending

      Corner Lot Office Space

      Office space on corner lot with high visibility.
      5000 Highway 22 E, Panama City, FL 32404
      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.
    1621 Transmitter Rd
    Panama City, FL 32404-3149
    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.