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Property profile & analytics
OFF-MARKET
Estimated value
$4,665,000
Grocery and convenience stores
3621 Hwy 231 Panama City, FL 32404-9743
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US19-0784133
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1997
Construction
CONCRETE BLOCKS
Total area
56,770 SF
Lot
6.45 ac (280,962 SF)
Zoning code
PC09
APN
11909-000-000
UPID
US19-0784133
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
$3.71M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.56M
Blend (final)
Blend
$4.67M
Owner & transaction history
Sac Pcb LLC · 5 yrs held
Sac Pcb LLC
since 2021
Last sale
$5.5M
7 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
$3,995,000
ML approach
$3,705,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$6,740,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$4.67M
Range $4.20M – $5.13M · ±10% · vs last sale $5.53M (Feb 26 2021)
Last sale anchor
$5.53M
Feb 26 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
$82 / 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
$69,266
Tax year 2023
Assessed value
$4,028,707
Assessed 2023
Previous assessed
$4,057,058
-0.7% YoY
Effective rate
1.72%
On assessed value
Assessed land
$1,064,250
Assessed improvement
$2,964,457
Land market value
$1,064,250
Improvement market value
$2,964,457
Total market value
$4,028,707
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
1997
Construction
CONCRETE BLOCKS
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
12
Bathrooms
1
Total area
56,770 SF
Lot
6.45 ac (280,962 SF)
Zoning code
PC09
APN
11909-000-000
UPID
US19-0784133
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
MEDICAL BUILDING
Est. value
$6.7M
MEDICAL BUILDING
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
1997
Construction
CONCRETE BLOCKS
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
12
Bathrooms
1
Lot
6.45 ac
Current owner
From public records · entity-resolved
Sac Pcb LLC
Entity
Mailing address
2768 N HIGHLAND AVE, JACKSON, TN 38305-1764
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
22 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 26, 2021
$5,532,000
Sac Pcb LLC
Carol R Hajicek
Special Warranty Deed
$3,650,000 · Nassau Life And Annuity Company
Nov 19, 2018
—
Vargas,c H Family Trust
Hajicek,carol R
Quit Claim Deed
related
—
Nov 28, 2017
—
Ann L Freundschuh LLC
Freundschuh Ann L Trust
Quit Claim Deed
related
—
Apr 18, 2016
—
Worby Family Ptshp
Worby,zachary P
Quit Claim Deed
—
Apr 9, 2014
$78,300
Cloverleaf South LLC
Worby Family Ptshp
Grant Deed
—
Mar 5, 2014
—
Worby Family Ptshp
Worby,aaron J
Quit Claim Deed
—
Jan 17, 2014
—
Freundschuh,marcus A Trust
Freundschuh,marcus A
Quit Claim Deed
related
—
Sep 12, 2013
—
Johnny R Worby
Worby Pauline G
Quit Claim Deed
related
—
Sep 24, 2012
—
John P Munkberg
Munkberg Farms INC
Quit Claim Deed
related
—
Aug 9, 2012
—
Gercor LLC
Schultz Family Trust
Warranty Deed
—
Aug 7, 2012
$150,000
Lannae D Halker
Aei Income & Growth Fund Xxi
Grant Deed
—
Jul 31, 2012
$150,000
C & J Marketing LLC
Aei Income & Growth Fund Xxi
Grant Deed
—
Aug 15, 2011
$689,700
Ellinghausen Herman C JR Trust
Aei Net Lease Income
Grant Deed
—
Jul 6, 2011
$150,000
Patrick M Sheridan
Aei Net Lease Income & Growth
Grant Deed
—
May 5, 2011
—
Paul R Hajicek
Hajicek,paul R
Quit Claim Deed
related
—
Jan 18, 2011
$200,000
Munkberg Farms INC
Aei Net Lease Income & Growth
Grant Deed
—
Apr 26, 2010
$195,600
Pufferland LLC
Aei Net Lease Income & Growth
Grant Deed
—
Sep 21, 2009
$300,000
Johnny R Worby
Aei Net Lease Income & Growth
Grant Deed
—
Mar 12, 2007
—
Marks John Trust
Marks,john R & Mary J
Quit Claim Deed
related
—
Mar 16, 2006
—
Hajicek Lillian E Family Trust
Hajicek,lillian E
Quit Claim Deed
related
—
May 28, 1996
$625,000
Transmitter Crossing LLC
Bauman Chiropractic Clinic
Trustees Deed
—
May 28, 1996
$100
Bauman Chiropractic Clinic
Bauman,w F & Joy R
Quit Claim Deed
$3,300,000 · Southtrust Bank Of Alabama
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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