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Property profile & analytics
OFF-MARKET
Estimated value
$970,000
Retail space
3829 Thomas Dr Panama City Beach, FL 32408-7317
Entity Owned
9-yr Hold
Free & Clear
Property ID
US18-0109087
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,870 SF
Lot
0.89 ac (38,768 SF)
Zoning code
BC05
APN
31428-040-000
UPID
US18-0109087
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
$990k
Comparable Approach
Comparable
$1.27M
Blend (final)
Blend
$970k
Owner & transaction history
3829 Thomas Drive LLC · 9 yrs held
3829 Thomas Drive LLC
since 2016
4 recorded transactions
Zoning & alternative use
BC05 · Panama City Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.4M
+68.5%
Office building
$1.3M
+48.5%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,070,000
6.5%
$990,000
7%
$920,000
Alternative Use
Use
Estimation
RETAIL STORES
$845,000
Current use
RESTAURANT
$1,420,000
Change: +68% · Conversion: Easy
OFFICE BUILDING
$1,255,000
Change: +48% · Conversion: Easy
MEDICAL BUILDING
$695,000
Change: -17% · Conversion: Difficult
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
$165 / 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
$12,766
Tax year 2023
Assessed value
$1,172,283
Assessed 2023
Previous assessed
$1,228,228
-4.6% YoY
Effective rate
1.09%
On assessed value
Assessed land
$959,905
Assessed improvement
$212,378
Land market value
$959,905
Improvement market value
$212,378
Total market value
$1,172,283
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
6
Bathrooms
3
Total area
5,870 SF
Lot
0.89 ac (38,768 SF)
Zoning code
BC05
APN
31428-040-000
UPID
US18-0109087
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
RETAIL STORES Current
Est. value
$845,000
RESTAURANT
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$695,000
RETAIL STORES Current
RESTAURANT
OFFICE BUILDING
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
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
6
Bathrooms
3
Lot
0.89 ac
Current owner
From public records · entity-resolved
3829 Thomas Drive LLC
Entity
Free & Clear · 9 yrs held
Mailing address
4471 LEGENDARY DR, DESTIN, FL 32541-5324
Ownership since
2016
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
Jan 14, 2019
—
3829 Thomas Drive LLC
—
Deed
related
$850,000 · Centennial Bank
Dec 29, 2016
$8,068
3829 Thomas Drive LLC
Phillips Properties INC
Warranty Deed
—
Feb 14, 2007
$1,250,000
Phillips Properties INC
Tate Ents INC
Warranty Deed
$1,025,000 · Covington County Bank
—
—
Tate Enterprises INC
—
Deed Of Trust
related
$419,000 · First National Bank Crestview
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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