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    Property profile & analytics

    1623 15th St Panama City, FL 32401-1743

    • Bars
    • 3,512 SF
    • 0.86 lot acres
    OFF-MARKET
    Value Estimation
    $455,000
    Last Sale
    Jul 01, 2021
    $600,000
    Location Intelligence
    Property ID
    US18-4642345
    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

    • Outrigger Lounge / Bar / Cocktail Bar
    • GetChewaBox Food Truck / Restaurant

    Property Details for 1623 15th St

    Year built
    1969
    Construction
    WOOD
    Lot size
    0.86 lot acres
    Property size
    3,512 SF
    Zone code
    PC09
    Property type
    Bars
    APN
    18726-000-000
    APU
    18726000000

    Description

    This exceptional Panama City retail property, located on Highway 98, offers 3,512 square feet of space in a high-traffic area with nearly 40,000 average daily vehicles passing by. Boasting 125 feet of frontage and a 300-foot depth on a nearly one-acre lot (37,461.6 sq ft), this CG-2 zoned property provides unparalleled visibility. The existing building features a well-appointed interior with a 30-foot solid wood bar, ample seating, seven TVs, and bar equipment. A large 1,184 square foot exterior deck adds versatile outdoor space. Recent upgrades include a 2018 roof replacement, AC unit replacements (2021 and 2023), and main waterline and sewer line replacements (2022). The majority of the lot is cleared, presenting significant redevelopment potential for retail, office, or service-oriented businesses. Priced at $849,900, this property built in 1969 represents a prime investment opportunity in a thriving commercial zone.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $435,000

    • CAP approach

      CAP return
      Estimation
      6%
      $615,000
      6.5%
      $590,000
      7%
      $590,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $525,000
      Geo Method
      $490,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $540,000
      Retail
      $465,000
      Mixed-Use
      $530,000
      Hospitality
      $460,000
      Educational
      $465,000
      Residential Income
      $550,000
      Energy
      $555,000
      Income-Based Land
      $470,000
      Food Service
      $625,000

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Bay
    State
    Florida
    Longitude
    -85.6866
    Latitude
    30.1748
    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
    $6,875
    $386,250
    $82,138
    $468,388
    -
    $386,250
    $82,138
    $468,388

    Comparable in this City

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      NIGHTCLUB (COCKTAIL LOUNGE) • 5,450 SF
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      View Details
    • Value Estimation
      $305,000
      6,485 SF

      3901 Hwy 98

      NIGHTCLUB (COCKTAIL LOUNGE) • 6,485 SF
      3901 Hwy 98, Panama City, FL 32401
      View Details

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    1623 15th St
    Panama City, FL 32401-1743
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    Realmo Value Estimation

    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.

    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.

    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
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