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Property profile & analytics
FOR LEASE
Retail space
5401 Highway 98 East Panama City, FL 32404
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-5524958
For Lease
1 / 6
$705,000
5401 Highway 98 East, Panama City, FL 32404
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1968
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,780 SF
Lot
0.85 ac (37,070 SF)
APN
26069-000-000
UPID
US18-5524958
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
$555k
CAP Approach
CAP
$805k
Comparable Approach
Comparable
$480k
Blend (final)
Blend
$705k
Owner & transaction history
Wewould Parker LLC · 3 yrs held
Wewould Parker LLC
since 2023
Last sale
$755,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.0M
+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 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
$645,000
ML approach
$555,000
CAP Approach
CAP Return
Estimation
6%
$870,000
6.5%
$805,000
7%
$750,000
Alternative Use
Use
Estimation
RETAIL STORES
$685,000
Current use
OFFICE BUILDING
$1,020,000
Change: +48% · Conversion: Easy
COMMERCIAL (GENERAL)
$680,000
Change: -1% · Conversion: Easy
MEDICAL BUILDING
$565,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$705k
Range $635k – $776k · ±10% · vs last sale $755k (Jun 20 2023)
Last sale anchor
$755k
Jun 20 2023
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
$147 / 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
$5,999
Tax year 2023
Assessed value
$424,198
Assessed 2023
Previous assessed
$426,981
-0.7% YoY
Effective rate
1.41%
On assessed value
Assessed land
$148,278
Assessed improvement
$275,920
Land market value
$148,278
Improvement market value
$275,920
Total market value
$424,198
Applied tax rate
10.0000
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
For Lease
Year built
1968
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
4
Total area
4,780 SF
Lot
0.85 ac (37,070 SF)
APN
26069-000-000
UPID
US18-5524958
Jurisdiction
BAY
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
RETAIL STORES Current
Est. value
$685,000
OFFICE BUILDING
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$680,000
MEDICAL BUILDING
Est. value
$565,000
RETAIL STORES Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1968
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
4
Lot
0.85 ac
Current owner
From public records · entity-resolved
Wewould Parker LLC
Entity
Mailing address
3101 S OCEAN DR APT #3808, HOLLYWOOD, FL 33019-2839
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 20, 2023
$755,000
Wewould Parker LLC
10 6 Parker LLC
Warranty Deed
$377,500 · Emolas Group INC
Jun 20, 2023
$377,500
Emolas Group INC
Wewould Parker LLC
Lease
—
Nov 20, 2020
—
5401 E Bus Hwy 98 LLC
Michel Heard
Quit Claim Deed
related
—
Sep 2, 2020
$3,150
10-6 Parker LLC
5401 E Bus Hwy 98 LLC
Warranty Deed
$400,000 · Daniel W II Davis
Jul 19, 2018
—
Davis Music Co
—
Deed
related
$750,000 · Maryanne & W C JR Grimsley
Feb 13, 2018
$140,000
5401 E Bus Hwy 98 LLC
Drlfr LLC
Warranty Deed
—
Oct 8, 2009
$290,000
Drlfr LLC
Smith,howard L
Warranty Deed
$245,000 · Howard L Smith
Apr 2, 1997
$335,000
Norman J Garceau
Smith,howard L & Janice
Grant Deed
$332,482 · Seller
—
—
Davis Music Co
—
Deed Of Trust
related
$750,000 · Maryanne & W C JR Grimsley
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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