Masonry Retail & Restaurant
6908 Thomas Drive Panama City Beach, FL 32408
6908 Thomas Drive, Panama City Beach, FL, 32408
$1,900,000
For Sale
$1,900,000
SINGLE_FAMILY - Panama City Beach, FL
Property Size6,985 SF
Lot Size0.54 Acres
Price / SF$272.01
Days on Market280
Property Features for 6908 Thomas Drive
General Information
- Property type
- Residential
- Property subtype
- Retail
- Standard status
- Active
- APN
- 30766-010-000
- Size
- 6,985 SF
- Lot size
- 0.54 Acres
Taxes and HOA fees
- Tax Description
- Lot 4, 5, 20, 21, Block R, Holiday Beach Unit No. 10, according to the Plat thereof, recorded in Plat Book 10,Page(s) 90, of the Public Records of Bay County, Florida.
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central, Electric (Heating)
Building Details
- Year built
- 1979
- Floors in Building
- 1
- Flooring type
- Concrete
- Building materials
- Block
- Roof type
- Metal
Listing Agency
Counts Real Estate Group Inc
(850) 249-3615
2104 Thomas Drive, PANAMA CITY BEACH, FL
Listed by
Chris S McCall · License #0666647
(850) 814-9889
Added: Oct 11, 2025 Checked: Jul 17 at 7:06 pm
MLS# 780324
Copyright © 2026 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Masonry retail and restaurant building totaling 6,985 square feet on 0.54 acres, featuring concrete block construction. The second floor includes three office/storage rooms and additional bathrooms. The property has been recently renovated with a complete build-out and a new HVAC system, and includes an on-site monument sign. Previously operated as a bar/restaurant.
Located at 6908 Thomas Drive in Panama City Beach, the site has 100 feet of frontage on Thomas Drive and extends 235 feet through to Beach Drive, with a Gulf-view setting approximately 800 feet from the Gulf of America. The parcel is described as “high and dry,” not in a flood zone, and with no wetlands. Zoning is C-1 Neighborhood Commercial, supporting commercial, mixed-use, or multifamily development, with up to 15 units per acre and a maximum building height of 35 feet.
The development parameters noted include 20 ft front and rear setbacks and 5 ft side setbacks, along with an impervious surface ratio of 60% and a floor area ratio of 100%.
Located at 6908 Thomas Drive in Panama City Beach, the site has 100 feet of frontage on Thomas Drive and extends 235 feet through to Beach Drive, with a Gulf-view setting approximately 800 feet from the Gulf of America. The parcel is described as “high and dry,” not in a flood zone, and with no wetlands. Zoning is C-1 Neighborhood Commercial, supporting commercial, mixed-use, or multifamily development, with up to 15 units per acre and a maximum building height of 35 feet.
The development parameters noted include 20 ft front and rear setbacks and 5 ft side setbacks, along with an impervious surface ratio of 60% and a floor area ratio of 100%.
Key Highlights
- 0.54‑acre Gulf‑view commercial lot with 100 ft of frontage on Thomas Drive and extending 235 ft through to Beach Drive
- 6,985 SF building (concrete block) with metal roof; central electric HVAC; built in 1979
- Zoned C‑1 Neighborhood Commercial (density up to 15 units/acre; max building height 35 ft; setbacks 20 ft front/rear, 5 ft side)
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $125.7k | $18.00 |
| − Vacancy | −$8.5k | −$1.22 |
| EGI | $117.2k | $16.78 |
| − OpEx | −$29.3k | −$4.19 |
| NOI | $87.9k | $12.58 |
6,985 SF · lease $18.00/SF/yr · vacancy 6.80% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.26M
$1.10M – $1.46M
NOI $87,885 @ 7.0% cap · market cap 4.63%
Second Best
Retail
$1.09M
$956.1K – $1.27M
NOI $76,485 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$2.04M
$1.78M – $2.37M
NOI $142,463 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
Similar For Sale Nearby
FAQs
What type of property is this?
Storefront property - Masonry building on 0.54 acres with 100 feet of frontage and second-floor office/storage rooms, renovated with new HVAC.
Where is this storefront property located?
The property is located at 6908 Thomas Drive Panama City Beach, FL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 0.54‑acre Gulf‑view commercial lot with 100 ft of frontage on Thomas Drive and extending 235 ft through to Beach Drive; 6,985 SF building (concrete block) with metal roof; central electric HVAC; built in 1979; Zoned C‑1 Neighborhood Commercial (density up to 15 units/acre; max building height 35 ft; setbacks 20 ft front/rear, 5 ft side)
