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Property profile & analytics
FOR SALE
Banks
2209 Thomas Dr, Panama City, FL 32408
Entity Owned
5-yr Hold
Free & Clear
Property ID
US18-8990509
For Sale
1 / 22
$1,490,000
2209 Thomas Dr, Panama City, FL 32408
View Listing →
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1985
Construction
STEEL FRAME
Total area
2,430 SF
Lot
1.15 ac (50,094 SF)
Zoning code
BC05
APN
30153-025-000
UPID
US18-8990509
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
$875k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$975k
Owner & transaction history
Storage For Stuff LLC · 5 yrs held
Storage For Stuff LLC
since 2021
Last sale
$1.1M
3 recorded transactions
Zoning & alternative use
BC05 · 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 submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Panama City 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
$925,000
ML approach
$875,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$975k
Range $878k – $1.07M · ±10% · vs last sale $1.05M (Jun 22 2021)
Last sale anchor
$1.05M
Jun 22 2021
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
$401 / 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
$9,091
Tax year 2023
Assessed value
$721,960
Assessed 2023
Previous assessed
$638,734
+13.0% YoY
Effective rate
1.26%
On assessed value
Assessed land
$500,940
Assessed improvement
$221,020
Land market value
$500,940
Improvement market value
$221,020
Total market value
$721,960
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
Banks
Use group
FINANCIAL BUILDING
Status
For Sale
Year built
1985
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
6
Total area
2,430 SF
Lot
1.15 ac (50,094 SF)
Zoning code
BC05
APN
30153-025-000
UPID
US18-8990509
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.
Building & site characteristics
From public records
Year built
1985
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
6
Lot
1.15 ac
Current owner
From public records · entity-resolved
Storage For Stuff LLC
Entity
Free & Clear · 5 yrs held
Mailing address
PO BOX 700, DOTHAN, AL 36302-0700
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 22, 2021
$1,050,000
Storage For Stuff LLC
Tyndall Federal Credit Union
Warranty Deed
—
Aug 28, 2008
$650,000
G & D Buyers LLC
Regions Bk
Grant Deed
—
Aug 28, 2008
$1,200,000
Tyndall FCU
G & D Buyers LLC
Warranty Deed
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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