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Property profile & analytics
OFF-MARKET
Estimated value
$560,000
Grocery and convenience stores
4909 Thomas Dr Panama City Beach, FL 32408-6919
Individually Owned
23-yr Hold
~
Est. High Equity
Property ID
US18-4144515
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1982
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,666 SF
Lot
0.34 ac (15,000 SF)
Zoning code
BC23
APN
31653-000-000
UPID
US18-4144515
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
$710k
Comparable Approach
Comparable
$342k
Blend (final)
Blend
$560k
Owner & transaction history
Panhandle Commercial Propertie · 23 yrs held
Panhandle Commercial Propertie
since 2003
1 recorded transaction
Zoning & alternative use
BC23 · Panama City Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$695,000
+29.4%
Commercial (general)
$675,000
+25.7%
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%
$770,000
6.5%
$710,000
7%
$660,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$535,000
Current use
OFFICE BUILDING
$695,000
Change: +29% · Conversion: Moderate
COMMERCIAL (GENERAL)
$675,000
Change: +26% · Conversion: Easy
Blend value · Realmo final
$560k
Range $504k – $616k · ±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
$153 / 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
$5,824
Tax year 2023
Assessed value
$506,475
Assessed 2023
Previous assessed
$504,971
+0.3% YoY
Effective rate
1.15%
On assessed value
Assessed land
$371,400
Assessed improvement
$135,075
Land market value
$371,400
Improvement market value
$135,075
Total market value
$506,475
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1982
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
OTHER
Stories
1
Rooms
2
Total area
3,666 SF
Lot
0.34 ac (15,000 SF)
Zoning code
BC23
APN
31653-000-000
UPID
US18-4144515
Jurisdiction
BAY
Zoning & alternative use
BC23 · Panama City Beach, FL
Zoning BC23 · permitted uses
BC23 · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$535,000
OFFICE BUILDING
Est. value
$695,000
COMMERCIAL (GENERAL)
Est. value
$675,000
NEIGHBORHOOD: SHOPPING CENTER Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1982
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
2
Lot
0.34 ac
Current owner
From public records · entity-resolved
Panhandle Commercial Propertie
Individual
Mailing address
PO BOX 1565, LAWRENCEVILLE, GA 30046-1565
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 29, 2003
$546,000
Panhandle Commercial Propertie
Hutson,richard M Tr
Grant Deed
$17,000,000 · Colonial 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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