1114-1120 Thomas Drive Panama City Beach, FL 32408
Class A building with two units and ample parking.
Property Features for 1114-1120 Thomas Drive
General Information
- Standard status
- Active
- Size
- 7,487 SF
- Lot size
- 1.00 Acre
- Property subtype
- Commercial
Building Details
- Year Built
- 2008
Listing office VARNES REALTY (850) 896-0910
Listing date Jan 4, 2026
Source Corcoran
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Investment Insights
Based on property information with market context.
Key Highlights
- High‑quality Class A building with retail/office space.
- Fully leased with established tenants: Taylor's Restaurant and Realty One Group.
- Strong income potential with existing leases in place.
Local Financial Insights For Office B
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 | $211.1k | $28.20 |
| − Vacancy | −$43.3k | −$5.78 |
| EGI | $167.9k | $22.42 |
| − OpEx | −$42.0k | −$5.60 |
| NOI | $125.9k | $16.81 |
