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Property profile & analytics
OFF-MARKET
Estimated value
$1,475,000
Strip malls
3123 Thomas Dr Panama City Beach, FL 32408-6256
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US18-3341165
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2004
Construction
WOOD
Total area
8,600 SF
Lot
0.77 ac (33,585 SF)
Zoning code
BC05
APN
30933-035-000
UPID
US18-3341165
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
$1.38M
CAP Approach
CAP
$1.67M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.48M
Owner & transaction history
P3 Partnership LLC · 5 yrs held
P3 Partnership LLC
since 2021
Last sale
$1.5M
4 recorded transactions
Zoning & alternative use
BC05 · Panama City Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.6M
+29.4%
Commercial (general)
$1.6M
+25.7%
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
$1,320,000
ML approach
$1,380,000
CAP Approach
CAP Return
Estimation
6%
$1,805,000
6.5%
$1,665,000
7%
$1,545,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,255,000
Current use
OFFICE BUILDING
$1,625,000
Change: +29% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,580,000
Change: +26% · Conversion: Easy
Blend value · Realmo final
$1.48M
Range $1.33M – $1.62M · ±10% · vs last sale $1.50M (Jun 11 2021)
Last sale anchor
$1.50M
Jun 11 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
$172 / 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
$14,549
Tax year 2023
Assessed value
$1,147,685
Assessed 2023
Previous assessed
$1,088,912
+5.4% YoY
Effective rate
1.27%
On assessed value
Assessed land
$335,847
Assessed improvement
$811,838
Land market value
$335,847
Improvement market value
$811,838
Total market value
$1,147,685
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2004
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
20
Total area
8,600 SF
Lot
0.77 ac (33,585 SF)
Zoning code
BC05
APN
30933-035-000
UPID
US18-3341165
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER Current
OFFICE BUILDING
COMMERCIAL (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
2004
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
20
Lot
0.77 ac
Current owner
From public records · entity-resolved
P3 Partnership LLC
Entity
Mailing address
5551 N LAGOON DR, PANAMA CITY BEACH, FL 32408-7911
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 11, 2021
$1,500,000
P3 Partnership LLC
Strategic Holdings LLC
Warranty Deed
$1,000,000 · Capital City Bank
Aug 14, 2003
—
Mediterranean Property Mgmt
—
Trustees Deed
related
$500,000 · Coastal Community Bank
Mar 27, 2003
$210,000
Dimitri Melisiotis
Frowert,thomas & Deborah
Grant Deed
—
Dec 14, 1999
$175,000
Thomas R Frowert
Edwards,george M & Debbie S
Grant Deed
$125,000 · Preserve Development Trust
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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