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Property profile & analytics
OFF-MARKET
Estimated value
$970,000
Medical Office Space
3422 Hwy 98, Panama City, FL 32401
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US19-0468084
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2017
Construction
STEEL FRAME
Total area
7,720 SF
Lot
0.92 ac (40,075 SF)
APN
15185-000-000
UPID
US19-0468084
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.25M
Blend (final)
Blend
$970k
Owner & transaction history
Excel Therapy LLC · 9 yrs held
Excel Therapy LLC
since 2017
7 recorded transactions
Zoning & alternative use
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
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
MEDICAL BUILDING
$915,000
Current use
Blend value · Realmo final
$970k
Range $873k – $1.07M · ±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
$126 / 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
$16,608
Tax year 2023
Assessed value
$986,142
Assessed 2023
Previous assessed
$954,155
+3.4% YoY
Effective rate
1.68%
On assessed value
Assessed land
$200,100
Assessed improvement
$786,042
Land market value
$200,100
Improvement market value
$786,042
Total market value
$986,142
Applied tax rate
20.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2017
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Rooms
13
Bathrooms
1
Total area
7,720 SF
Lot
0.92 ac (40,075 SF)
APN
15185-000-000
UPID
US19-0468084
Jurisdiction
BAY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$915,000
MEDICAL BUILDING Current
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
2017
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Rooms
13
Bathrooms
1
Lot
0.92 ac
Current owner
From public records · entity-resolved
Excel Therapy LLC
Entity
Mailing address
3420 E 15TH ST, PANAMA CITY, FL 32405-7425
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
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 2, 2017
$53,000
Excel Therapy LLC
Davis & Campbell LLC
Quit Claim Deed
related
—
Feb 2, 2017
—
Davis & Campbell LLC
Kensinger,merle W & Lucille
Grant Deed
related
—
Sep 11, 2014
$500,000
Davis & Campbell LLC
Merle W Kensinger
Warranty Deed
$300,000 · Midsouth Bank
Dec 13, 2012
$50,000
Larry Lee
Kensinger,merle W & Lucille
Warranty Deed
—
Sep 24, 2004
$689,200
Merle W Kensinger
Martin,george C JR
Warranty Deed
$517,500 · Southtrust Bank NA
—
—
Merle W Kensinger JR.
—
Deed Of Trust
related
$635,000 · First Gulf Bank
—
—
George C Martin
—
Deed Of Trust
related
$150,000 · Peoples First Community Bank
—
—
Merle W Kensinger
—
Deed Of Trust
related
$460,000 · First National Bank Nw Florida
—
—
Bryan T Davis
—
Deed Of Trust
related
$120,000 · Joel P & Mary R Davis
—
—
George C Martin
—
Deed Of Trust
related
$200,000 · Peoples First Community Bank
—
—
Excel Therapy LLC
—
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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