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Property profile & analytics
FOR SALE
Banks
16901 Panama City Beach Pkwy Panama City Beach, FL 32413
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US18-3770852
For Sale
1 / 80
$3,950,000
16901 Panama City Beach Pkwy, Panama City Beach, FL 32413
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Property summary
AI-generated overview
This exceptional three-story office building, constructed in 2004, is situated on a substantial 47,916 sq ft lot at 16901 Panama City Beach Parkway, Panama City Beach, FL 32413. The asking price is $4,950,000. The main building boasts over 4,000 sq ft per floor, totaling approximately 12,000 sq ft. The ground floor, previously a bank, is readily adaptable for quick re-occupancy (estimated 30-45 days). The second and third floors are currently occupied by long-term tenants, providing immediate income potential. An additional adjacent lot (33478-010-000), included in the sale, offers ample parking and the potential to construct an additional approximately 3,000 sq ft building, further enhancing income generation. This premier location benefits from its strategic positioning between Highway 79 and Pier Park, close proximity to City Hall, and within minutes of the new hospital on Highway 79. Attractive owner financing options are available with acceptable terms. This presents a unique opportunity to acquire a well-situated, income-producing property with significant expansion potential in a thriving coastal market.
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2004
Construction
WOOD
Total area
12,916 SF
Lot
0.61 ac (26,400 SF)
Zoning code
PCB03
APN
33478-050-000
UPID
US18-3770852
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Geltel LLC · 10 yrs held
Geltel LLC
since 2015
7 recorded transactions
Zoning & alternative use
PCB03 · Panama City Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Panama City Beach 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$15,070
Tax year 2023
Assessed value
$1,240,170
Assessed 2023
Previous assessed
$1,250,264
-0.8% YoY
Effective rate
1.22%
On assessed value
Assessed land
$346,632
Assessed improvement
$893,538
Land market value
$346,632
Improvement market value
$893,538
Total market value
$1,240,170
Applied tax rate
13.0000
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
Banks
Use group
FINANCIAL BUILDING
Status
For Sale
Year built
2004
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Rooms
17
Total area
12,916 SF
Lot
0.61 ac (26,400 SF)
Zoning code
PCB03
APN
33478-050-000
UPID
US18-3770852
Jurisdiction
BAY
Zoning & alternative use
PCB03 · Panama City Beach, FL
Zoning PCB03 · permitted uses
PCB03 · Panama City Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Panama City Beach. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2004
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
2
Rooms
17
Lot
0.61 ac
Current owner
From public records · entity-resolved
Geltel LLC
Entity
Mailing address
16901 PANAMA CITY BCH PKWY, PANAMA CITY BEACH, FL 32413-2240
Ownership since
2015
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
Oct 15, 2019
—
Geltel LLC
—
Deed
related
$1,045,000 · Trinity Bk
Jul 30, 2019
—
Geltel LLC
—
Deed
related
$796,000 · Trinity Bk
Apr 26, 2019
—
Geltel LLC
—
Deed
related
$596,000 · Trinity Bank NA
Nov 6, 2015
—
Geltel LLC
Lee,talmadge E & Glenda E
Warranty Deed
—
Mar 30, 2011
—
Superior Bk
Lee,t E & Glenda E Coc
Trustees Deed
related
—
Aug 18, 2003
—
Talmadge E Lee
Lee,t E
Quit Claim Deed
related
$1,640,000 · Regions Bank
Mar 28, 1997
$100,000
T E Lee
Welch,larry J
Grant Deed
—
May 2, 1996
$26,000
Lary J Welch
Crews,donna L & James H
Grant Deed
$24,000 · Seller
—
—
Geltel LLC
—
Loan Modification
related
$1,045,000 · Trinity Bk
—
—
Geltel LLC
—
Loan Modification
related
$796,000 · Trinity Bk
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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