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Property profile & analytics
OFF-MARKET
Estimated value
$815,000
Retail properties & Spaces
4221 Hwy 98 Panama City, FL 32401-1172
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-3310857
Property profile
Verified
Property type
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Year built
1992
Construction
STEEL FRAME
Total area
5,800 SF
Lot
0.48 ac (21,100 SF)
Zoning code
PC09
APN
28347-000-000
UPID
US18-3310857
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
$820k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.31M
Blend (final)
Blend
$815k
Owner & transaction history
98 Prime LLC · 4 yrs held
98 Prime LLC
since 2022
Last sale
$990,000
5 recorded transactions
Zoning & alternative use
PC09 · Panama City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Restaurant
$1.4M
+56.5%
Office building
$1.2M
+37.9%
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
$815,000
ML approach
$820,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
$900,000
Current use
RESTAURANT
$1,405,000
Change: +56% · Conversion: Difficult
OFFICE BUILDING
$1,240,000
Change: +38% · Conversion: Difficult
Blend value · Realmo final
$815k
Range $734k – $897k · ±10% · vs last sale $990k (May 3 2022)
Last sale anchor
$990k
May 3 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
$141 / 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
$11,195
Tax year 2023
Assessed value
$673,057
Assessed 2023
Previous assessed
$333,588
+101.8% YoY
Effective rate
1.66%
On assessed value
Assessed land
$217,330
Assessed improvement
$455,727
Land market value
$217,330
Improvement market value
$455,727
Total market value
$673,057
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
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Status
Off-Market
Year built
1992
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Stories
1
Rooms
3
Total area
5,800 SF
Lot
0.48 ac (21,100 SF)
Zoning code
PC09
APN
28347-000-000
UPID
US18-3310857
Jurisdiction
BAY
Zoning & alternative use
PC09 · Panama City, FLZoning 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
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
Est. value
$900,000
RESTAURANT
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.2M
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
RESTAURANT
OFFICE 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
1992
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Rooms
3
Lot
0.48 ac
Current owner
From public records · entity-resolved
98 Prime LLC
Entity
Mailing address
8101 WARD RD, ARVADA, CO 80005-5343
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 3, 2022
$990,000
98 Prime LLC
Mjw Real Estate LLC
Warranty Deed
—
Oct 6, 2020
$429,000
Mjw Real Estate LLC
Lacle Auto Painting INC
Special Warranty Deed
$364,650 · Southern States Bank
Apr 21, 2020
—
Lacle Auto Painting INC
—
Deed
related
$293,358 · Regions Bank
Jun 27, 2016
$335,000
Lacle Auto Painting INC
Todd A Patterson
Warranty Deed
$324,300 · Regions Bank
—
—
Todd A Patterson
—
Deed Of Trust
related
$217,500 · Prime Meridian Bank
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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