Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    3621 Hwy 231 Panama City, FL 32404-9743

    • Grocery and convenience stores
    • 56,770 SF
    • 6.45 lot acres
    OFF-MARKET
    Value Estimation
    $4,505,000
    Last Sale
    Feb 26, 2021
    $5,532,000
    Location Intelligence
    Property ID
    US19-0784133
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 3621 Hwy 231

    Year built
    1997
    Construction
    CONCRETE BLOCKS
    Lot size
    6.45 lot acres
    Property size
    56,770 SF
    Zone code
    PC09
    Property type
    Grocery and convenience stores
    APN
    11909-000-000
    APU
    11909000000

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $3,995,000

    • CAP approach

      CAP return
      Estimation
      6%
      $5,450,000
      6.5%
      $5,125,000
      7%
      $5,150,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $5,020,000
      Geo Method
      $6,065,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $6,590,000
      Retail
      $5,655,000
      Mixed-Use
      $6,175,000
      Hospitality
      $4,750,000
      Educational
      $5,800,000
      Residential Income
      $5,075,000
      Energy
      $5,500,000
      Income-Based Land
      $6,210,000
      Food Service
      $5,490,000

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Bay
    State
    Florida
    Longitude
    -85.6065
    Latitude
    30.215
    CBSA code
    37460
    CBSA name
    PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $69,266
    $1,064,250
    $2,964,457
    $4,028,707
    -
    $1,064,250
    $2,964,457
    $4,028,707

    Comparable in this City

    • Value Estimation by Request
      2,880 SF

      5820 Boat Race Rd

      CONVENIENCE STORE • 2,880 SF
      5820 Boat Race Rd, Panama City, FL 32404-8201
      View Details
    • Value Estimation
      $500,000
      9,802 SF

      8012 Hwy 2301

      GROCERY, SUPERMARKET • 9,802 SF
      8012 Hwy 2301, Panama City, FL 32404-4432
      View Details
    • Value Estimation by Request
      16,945 SF

      4402 Hwy 98

      CONVENIENCE STORE • 16,945 SF
      4402 Hwy 98, Panama City, FL 32404
      View Details
    • Value Estimation
      $540,000
      6,360 SF

      2813 Transmitter Rd

      CONVENIENCE STORE • 6,360 SF
      2813 Transmitter Rd, Panama City, FL 32404-3163
      View Details
    • Value Estimation
      $240,000
      4,474 SF

      822 Hwy 22nd A A

      CONVENIENCE STORE • 4,474 SF
      822 Hwy 22nd A A, Panama City, FL 32404-6829
      View Details
    • Value Estimation
      $350,000
      2,760 SF

      6707 Cherry St

      CONVENIENCE STORE • 2,760 SF
      6707 Cherry St, Panama City, FL 32404-8068
      View Details

    Similar Nearby for Sale

    • $87,500
      2.46 Acres

      Panama City Commercial Land Available

      2.46 acres of commercial land in Panama City, Florida.
      2.4 Acres Airway St, Panama City, FL 32404
      View Details
    • $82,000
      2.54 Acres

      Panama City Commercial Land Available

      2.54 acres of commercial land in growing Panama City area.
      2405 Highway 2297, Panama City, FL 32404
      View Details
    • $645,000
      3,430 SF

      Established Furniture Store with Real Estate

      Operating furniture store, home decor, gifts, jewelry, and real estate.
      5022 Callaway Dr, Panama City, FL 32404
      View Details
    • $169,900
      Pending

      Versatile Commercial Property For Sale

      Centrally located commercial property with office and storage space.
      2922 Transmitter Rd, Panama City, FL 32404
      View Details
    • Contact for pricing
      4,296 SF

      Retail Space with Dunkin' Co-Tenant

      Retail space available for lease with high traffic location.
      710 North Tyndall Pkwy, Panama City, FL 32404
      View Details
    • $180,000
      3,430 SF

      Established Furniture Store Business

      Operating furniture and home decor business for sale in Callaway.
      5022 Callaway Dr, Panama City, FL 32404
      View Details

    Similar Nearby for Lease

    • $2,500 /Mo
      1,552 SF

      Callaway Office/Retail Space For Rent

      Well-appointed commercial space on Tyndall Parkway, Callaway, FL.
      717 S Tyndall Pkwy, Panama City, FL 32404
      View Details
    • $19 SF/Yr
      2,500 SF

      Retail Space with Drive-Thru

      Retail space with drive-thru, high visibility, and improvement allowance.
      133 S Tyndall Pkwy, Panama City, FL 32404
      View Details
    • $35 SF/Yr
      1,677 SF

      Callaway Retail Space - 1677 SF

      High-visibility retail space, prime location.
      734 - 740 N Tyndall Pkwy, Callaway, FL 32404
      View Details
    • $10 SF/Yr
      3,000 SF

      Versatile Commercial Space For Lease

      3,000 SF commercial space ideal for various business uses.
      5907 Highway 22 E, Panama City, FL 32404
      View Details
    • $16 SF/Yr

      Warehouse and Office Space Available

      Warehouse and office space for lease in Panama City, FL.
      1220 Transmitter Rd, Panama City, FL 32404
      View Details
    • $2,400,000
      20,000 SF

      Versatile Panama City Office Asset

      20,000 SF office building with flexible floorplate and ample parking.
      230 N Tyndall Pkwy, Panama City, FL 32404
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3621 Hwy 231
    Panama City, FL 32404-9743
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.