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Property profile & analytics
OFF-MARKET
Estimated value
$620,000
Retail space
2206 Thomas Dr Panama City Beach, FL 32408-5814
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US18-2773716
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,160 SF
Lot
2.39 ac (103,891 SF)
Zoning code
BC05
APN
30152-050-000
UPID
US18-2773716
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
$415k
CAP Approach
CAP
$700k
Comparable Approach
Comparable
$461k
Blend (final)
Blend
$620k
Owner & transaction history
Half Hitch Tackle Co INC · 6 yrs held
Half Hitch Tackle Co INC
since 2020
5 recorded transactions
Zoning & alternative use
BC05 · Panama City Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$890,000
+48.5%
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
by Request
ML approach
$415,000
CAP Approach
CAP Return
Estimation
6%
$760,000
6.5%
$700,000
7%
$650,000
Alternative Use
Use
Estimation
RETAIL STORES
$600,000
Current use
OFFICE BUILDING
$890,000
Change: +48% · Conversion: Easy
MEDICAL BUILDING
$495,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$620k
Range $558k – $682k · ±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
$149 / 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
$27,321
Tax year 2023
Assessed value
$2,299,129
Assessed 2023
Previous assessed
$2,140,575
+7.4% YoY
Effective rate
1.19%
On assessed value
Assessed land
$1,038,906
Assessed improvement
$1,260,223
Land market value
$1,038,906
Improvement market value
$1,260,223
Total market value
$2,299,129
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 space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
OTHER
Buildings
4
Stories
1
Rooms
4
Total area
4,160 SF
Lot
2.39 ac (103,891 SF)
Zoning code
BC05
APN
30152-050-000
UPID
US18-2773716
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
RETAIL STORES Current
Est. value
$600,000
OFFICE BUILDING
Est. value
$890,000
MEDICAL BUILDING
Est. value
$495,000
RETAIL STORES Current
OFFICE BUILDING
MEDICAL 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
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
4
Rooms
4
Lot
2.39 ac
Current owner
From public records · entity-resolved
Half Hitch Tackle Co INC
Entity
Mailing address
2206 THOMAS DR, PANAMA CITY, FL 32408-5814
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
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
Apr 13, 2020
—
Half Hitch Tackle Co INC
—
Deed
related
$1,620,000 · Regions Bk
Jun 24, 2016
—
Half Hitch Tackle Co INC
—
Deed
related
—
Jul 12, 2010
—
Half Hitch Tackle Co INC
—
Trustees Deed
related
$300,000 · Regions Bank
—
—
Half Hitch Tackle Co INC
—
Deed Of Trust
related
$400,000 · Regions Bank
—
—
Half Hitch Tackle Co INC
—
Loan Modification
related
$1,620,000 · Regions 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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