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Property profile & analytics
OFF-MARKET
Estimated value
$2,860,000
Retail properties & Spaces
21929 Panama City Bch Pkwy Panama City Beach, FL 32413-3219
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US18-7499189
Property summary
AI-generated overview
This exceptional 5,700 square foot special purpose property, located at 21929 Panama City Beach Parkway in Panama City Beach, Florida (zip code 32413), presents a unique leasing opportunity. Situated on a lot with dimensions not specified, the single-tenant building boasts a versatile layout ideal for a variety of businesses. The property features a well-appointed office area complete with a reception desk, a comfortable client waiting area, two private offices, and two restrooms. This seamlessly integrates with a spacious 4,700 square foot open warehouse or showroom area, perfectly suited for storage, display, or production. Three 14' x 14' overhead doors provide convenient access for loading and unloading. The property's prime location along a major highway offers excellent visibility and accessibility, making it an attractive option for businesses seeking high traffic exposure. This is a single-tenant building with no additional suites. The property's APN is 35357-026-000. This exceptional space is ready for immediate occupancy and offers significant potential for growth and success in the thriving Panama City Beach market. The property is located in Bay County, Florida.
Property profile
Verified
Property type
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Year built
2019
Construction
STEEL FRAME
Total area
10,260 SF
Lot
1.18 ac (51,444 SF)
Zoning code
BC05
APN
35357-026-000
UPID
US18-7499189
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
$2.77M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.87M
Blend (final)
Blend
$2.86M
Owner & transaction history
21929 Tmj LLC · 1 yrs held
21929 Tmj LLC
since 2025
Last sale
$3.0M
5 recorded transactions
Zoning & alternative use
BC05 · Panama City Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.6M
+47.6%
Commercial (general)
$2.6M
+44.0%
Office building
$2.1M
+15.4%
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
Method
Estimation
Statistic approach
$2,655,000
ML approach
$2,765,000
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)
$1,780,000
Current use
RESTAURANT
$2,625,000
Change: +48% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,560,000
Change: +44% · Conversion: Difficult
OFFICE BUILDING
$2,055,000
Change: +15% · Conversion: Difficult
Blend value · Realmo final
$2.86M
Range $2.57M – $3.15M · ±10% · vs last sale $3.00M (Mar 3 2025)
Last sale anchor
$3.00M
Mar 3 2025
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
$279 / 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
$13,956
Tax year 2023
Assessed value
$1,100,249
Assessed 2023
Previous assessed
$1,104,609
-0.4% YoY
Effective rate
1.27%
On assessed value
Assessed land
$662,541
Assessed improvement
$437,708
Land market value
$662,541
Improvement market value
$437,708
Total market value
$1,100,249
Applied tax rate
56.0000
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
2019
Construction
STEEL FRAME
Heating
NONE
Units
4
Rooms
3
Total area
10,260 SF
Lot
1.18 ac (51,444 SF)
Zoning code
BC05
APN
35357-026-000
UPID
US18-7499189
Jurisdiction
BAY
Zoning & alternative use
BC05 · Panama City Beach, FL
Zoning BC05 · permitted uses
BC05 · 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.
Alternative use value scenarios
Repositioning upside vs current use
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
Est. value
$1.8M
RESTAURANT
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$2.6M
OFFICE BUILDING
Est. value
$2.1M
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
RESTAURANT
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
2019
Construction
STEEL FRAME
Heating
NONE
Units
4
Rooms
3
Lot
1.18 ac
Current owner
From public records · entity-resolved
21929 Tmj LLC
Entity
Mailing address
2101 NORTHSIDE DR UNIT #104, PANAMA CITY, FL 32405-3686
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 3, 2025
$3,000,000
21929 Tmj LLC
West Pcb Holdings LLC
Special Warranty Deed
$2,700,000 · West Pcb Holdings LLC
Aug 8, 2018
—
West Pcb Holdings LLC
—
Deed
related
$1,260,000 · Panhandle Educators FCU
Oct 3, 2014
$400,000
Gulf Resources LLC
Sunsouth Bk
Grant Deed
—
Oct 3, 2014
$50,000
West Pcb Holdings LLC
Sunsouth Bk
Grant Deed
—
—
—
Rme Family
—
Deed Of Trust
related
$200,000 · Bank South NA
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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