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Property profile & analytics
OFF-MARKET
Estimated value
$910,000
Grocery and convenience stores
2401 5th St Panama City, FL 32401-4776
Entity Owned
9-yr Hold
Free & Clear
Property ID
US18-4517358
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1955
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,760 SF
Lot
1.21 ac (52,751 SF)
Zoning code
PC09
APN
22637-000-000
UPID
US18-4517358
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
-
Asian Oriental International Market (Bike/Boat/Book/etc) Store Grocery & Convenience Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$921k
Blend (final)
Blend
$910k
Owner & transaction history
Asian Group LLC · 9 yrs held
Asian Group LLC
since 2017
3 recorded transactions
Zoning & alternative use
PC09 · Panama City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.3M
+35.1%
Commercial (general)
$975,000
+3.0%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$945,000
Current use
MEDICAL BUILDING
$1,275,000
Change: +35% · Conversion: Difficult
COMMERCIAL (GENERAL)
$975,000
Change: +3% · Conversion: Easy
INDUSTRIAL (GENERAL)
$845,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$910k
Range $819k – $1.00M · ±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
$85 / 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
$10,125
Tax year 2023
Assessed value
$582,521
Assessed 2023
Previous assessed
$548,533
+6.2% YoY
Effective rate
1.74%
On assessed value
Assessed land
$190,652
Assessed improvement
$391,869
Land market value
$190,652
Improvement market value
$391,869
Total market value
$582,521
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1955
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
OTHER
Stories
1
Rooms
3
Total area
10,760 SF
Lot
1.21 ac (52,751 SF)
Zoning code
PC09
APN
22637-000-000
UPID
US18-4517358
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.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$945,000
MEDICAL BUILDING
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$975,000
INDUSTRIAL (GENERAL)
Est. value
$845,000
RETAIL STORES Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
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
1955
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
3
Lot
1.21 ac
Current owner
From public records · entity-resolved
Asian Group LLC
Entity
Free & Clear · 9 yrs held
Mailing address
2401 E 5TH ST, PANAMA CITY, FL 32401-4776
Ownership since
2017
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
Apr 5, 2017
$562,000
Asian Group LLC
Reeves,john E
Warranty Deed
—
Oct 3, 2012
$150,000
John E Reeves
Hentz,harriett R
Warranty Deed
$150,000 · Harriett R Hentz
Oct 16, 2007
—
Harriett R Hentz
Hentz James I JR
Quit Claim 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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