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Property profile & analytics
OFF-MARKET
Estimated value
$3,150,000
Hotels
2338 Mercedes Ave Panama City, FL 32405-5260
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-6125036
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1999
Construction
WOOD
Total area
34,088 SF
Lot
1.22 ac (52,950 SF)
Zoning code
PC09
APN
12848-020-000
UPID
US18-6125036
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
Current use
Occupant on record · Public records
-
Best Western Plus Panama City Hotel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.86M
CAP Approach
CAP
$3.29M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.15M
Owner & transaction history
Pineapple Hospitality Pcbw LLC · 4 yrs held
Pineapple Hospitality Pcbw LLC
since 2022
Last sale
$3.4M
6 recorded transactions
Zoning & alternative use
PC09 · Panama City, 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
$2,805,000
ML approach
$2,855,000
CAP Approach
CAP Return
Estimation
6%
$3,560,000
6.5%
$3,290,000
7%
$3,055,000
Blend value · Realmo final
$3.15M
Range $2.84M – $3.47M · ±10% · vs last sale $3.40M (Feb 7 2022)
Last sale anchor
$3.40M
Feb 7 2022
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
$92 / 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
$45,230
Tax year 2023
Assessed value
$2,591,690
Assessed 2023
Previous assessed
$2,614,004
-0.9% YoY
Effective rate
1.75%
On assessed value
Assessed land
$317,700
Assessed improvement
$2,273,990
Land market value
$317,700
Improvement market value
$2,273,990
Total market value
$2,591,690
Applied tax rate
16.0000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1999
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Stories
3
Units
60
Rooms
40
Total area
34,088 SF
Lot
1.22 ac (52,950 SF)
Zoning code
PC09
APN
12848-020-000
UPID
US18-6125036
Jurisdiction
BAY
Zoning & alternative use
PC09 · Panama City, FL
Zoning PC09 · permitted uses
PC09 · Panama City, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Panama City. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1999
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
3
Units
60
Rooms
40
Lot
1.22 ac
Current owner
From public records · entity-resolved
Pineapple Hospitality Pcbw LLC
Entity
Mailing address
504 PARKWOOD DR, PANAMA CITY, FL 32405-4439
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 7, 2022
$3,400,000
Pineapple Hospitality Pcbw LLC
Pineapple Venture Capital LLC
Warranty Deed
$3,400,000 · First National Bank Northwest Flori
May 5, 2021
$3,400,000
Pineapple Venture Capital LLC
Shri Laxmi INC
Warranty Deed
$2,300,000 · Shri Laxmi INC
Aug 20, 2018
—
Shri Laxmi INC
—
Deed
related
—
—
—
Shri Laxmi INC
—
Deed Of Trust
related
$1,750,000 · Superior Bank Fsb
—
—
Shri Laxmi INC
—
Deed Of Trust
related
$2,050,000 · Prosperity Bank
—
—
Shri Laxmi INC
—
Loan Modification
related
—
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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