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Property profile & analytics
OFF-MARKET
Estimated value
$615,000
Retail space
7008 Thomas Dr Panama City Beach, FL 32408-6126
Individually Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-4707783
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1982
Construction
WOOD
Total area
4,790 SF
Lot
0.55 ac (23,958 SF)
Zoning code
BC03
APN
30804-010-000
UPID
US18-4707783
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
$805k
Comparable Approach
Comparable
$420k
Blend (final)
Blend
$615k
Owner & transaction history
Candace Miller · 1 yrs held
Candace Miller
since 2025
5 recorded transactions
Zoning & alternative use
BC03 · Panama City Beach, FL
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 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%
$875,000
6.5%
$805,000
7%
$750,000
Alternative Use
Use
Estimation
RETAIL STORES
$690,000
Current use
OFFICE BUILDING
$1,025,000
Change: +48% · Conversion: Easy
MEDICAL BUILDING
$570,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$615k
Range $554k – $677k · ±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
$128 / 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
$7,317
Tax year 2023
Assessed value
$672,064
Assessed 2023
Previous assessed
$684,353
-1.8% YoY
Effective rate
1.09%
On assessed value
Assessed land
$593,200
Assessed improvement
$78,864
Land market value
$593,200
Improvement market value
$78,864
Total market value
$672,064
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
1982
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
14
Total area
4,790 SF
Lot
0.55 ac (23,958 SF)
Zoning code
BC03
APN
30804-010-000
UPID
US18-4707783
Jurisdiction
BAY
Zoning & alternative use
BC03 · Panama City Beach, FL
Zoning BC03 · permitted uses
BC03 · 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
$690,000
OFFICE BUILDING
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$570,000
RETAIL STORES Current
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
1982
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
14
Lot
0.55 ac
Current owner
From public records · entity-resolved
Candace Miller
Individual
Free & Clear · 1 yrs held
Mailing address
7406 S LAGOON DR, PANAMA CITY BEACH, FL 32408-5404
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Mar 12, 2025
—
Candace Miller
Candace Miller
Personal Rep. Deed
related
—
Feb 21, 2025
—
Candace Miller
Candace Miller
Personal Rep. Deed
related
—
Oct 16, 1997
$185,000
Thomas Miller
B & F Of Destin INC
Grant Deed
$138,750 · Emerald Coast Bank
Aug 27, 1996
$132,700
Heritage Bay Corp INC
Dunes Plaza INC
Grant Deed
—
—
—
Thomas Miller
—
Deed Of Trust
related
$28,500 · The 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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