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Property profile & analytics
OFF-MARKET
Estimated value
$555,000
Office Spaces
402 Reid Ave, Port St Joe, FL 32456-1828
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-0465585
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,500 SF
Lot
0.09 ac (4,008 SF)
APN
04791-000R
UPID
US18-0465585
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
Current use
Occupant on record · Public records
-
Shoobies Grocery & Convenience Store Specialty Food Shop
-
Novak Law Group, PLLC Jeremy T.M. Novak, Esq. Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$530k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$568k
Blend (final)
Blend
$555k
Owner & transaction history
Barela Holdings LLC · 3 yrs held
Barela Holdings LLC
since 2022
Last sale
$575,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$470,000
+21.8%
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 Port St Joe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Port St Joe 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
$690,000
ML approach
$530,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$385,000
Current use
RETAIL STORES
$470,000
Change: +22% · Conversion: Easy
Blend value · Realmo final
$555k
Range $500k – $611k · ±10% · vs last sale $575k (Nov 18 2022)
Last sale anchor
$575k
Nov 18 2022
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
$222 / 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
$7,937
Tax year 2023
Assessed value
$510,672
Assessed 2023
Previous assessed
$383,557
+33.1% YoY
Effective rate
1.55%
On assessed value
Assessed land
$232,500
Assessed improvement
$278,172
Land market value
$232,500
Improvement market value
$278,172
Total market value
$510,672
Applied tax rate
5.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Bathrooms
2
Total area
2,500 SF
Lot
0.09 ac (4,008 SF)
APN
04791-000R
UPID
US18-0465585
Jurisdiction
GULF
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
COMMERCIAL (GENERAL) Current
Est. value
$385,000
RETAIL STORES
Est. value
$470,000
COMMERCIAL (GENERAL) Current
RETAIL STORES
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
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
2
Lot
0.09 ac
Current owner
From public records · entity-resolved
Barela Holdings LLC
Entity
Mailing address
1265 TERMINUS DR, LITHIA SPRINGS, GA 30122-3140
Ownership since
2022
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
Nov 18, 2022
$575,000
Barela Holdings LLC
Jeremy T M Novak
Warranty Deed
—
Jun 4, 2020
—
Jeremy T M Novak
—
Deed Of Trust
related
$100,000 · Peoplessouth Bk
Feb 1, 2019
—
Jeremy T Novak
—
Deed
related
$246,100 · United States Small Business Admin
May 24, 2017
—
Jeremy T M Novak
—
Deed
related
$47,838 · Peoplessouth Bank
Jan 26, 2011
$200,000
Jeremy T M Novak
Psj Reid 402 LLC
Warranty Deed
$180,000 · Psj Reid 402 LLC
Sep 20, 2010
$155,000
Psj Reid 402 LLC
Capital Cty Bk
Grant Deed
$110,000 · Capital City Bank
Aug 11, 2010
—
Capital Cty Bk
Ch Properties LLC
Quit Claim Deed
related
—
Nov 6, 2008
$275,000
Capital City Bank
Sheriff Of Gulf County
Trustees Deed
related
—
—
—
Jeremy T M Novak
—
Deed Of Trust
related
$199,100 · Peoplessouth Bk
—
—
C H Properties LLC
—
Deed Of Trust
related
$100,000 · Capital City Bank
—
—
Jeremy T M Novak
—
Loan Modification
related
$121,308 · Peoplessouth Bk
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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