Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    6606 Thomas Dr #A Panama City, FL 32408

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $975,000

    Modern duplex near the beach, perfect for short-term rentals.

    Property size:
    2,560 SF
    Lot size:
    0.14 Acres

    Property Features for 6606 Thomas Dr #A

    General Information

    Size
    2,560 SF
    Lot size
    0.14 Acres

    Building Details

    Year built
    2023

    We can help!

    Listing Contact
    Nikol Naydenova
    Source: Kw

    Listing Agent: Nikol Naydenova

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Turnkey Duplex Near Beach

    This duplex is designed for vacation rentals and located a short walk from the beach. Each unit (A & B) features 3 bedrooms, 3.5 baths, a bunk bed area, and an open-concept living space. Each unit accommodates up to 10 guests, for a total of 20. The property features 10-foot ceilings, custom accent walls, LVP flooring, tiled walk-in showers, and two 5x40 ft covered balconies. The duplex is equipped with modern kitchen appliances, two tankless water heaters, and two HVAC systems with smart thermostats. Outside, there are two large fenced yards, each with a gazebo, gas grill, and outdoor dining/lounge space. The property is located on Thomas Dr, near restaurants, shopping, and local attractions. There are no HOA fees. The 2024 gross rental income was $124,000, and 2025 bookings already exceed $106,000.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Walton
    State
    Florida
    Longitude
    -85.756
    Latitude
    30.1593

    Nearby Similar for Sale

    • $1,150,000
      Pending

      Unique Bayfront Property with Income

      Bayfront property featuring a main house and six rental units.
      6035 Bus, Panama City, FL 32404
      View Details
    • New
      $500,000
      3,679 SF

      Dual-Home Family Retreat Investment

      Dual-home property near Beach Drive, ideal for living and investment.
      1016 W 12Th St, Panama City, FL 32401
      View Details
    • $1,850,000
      4,698 SF

      Waterfront Property with Income Potential

      Waterfront property featuring multiple residences and income-generating potential in Panama City.
      401 Massalina Dr, Panama City, FL 32401
      View Details
    • $699,900
      2,204 SF

      Renovated Multi-Unit Rental Property

      Turnkey, fully furnished rental property with proven rental history.
      3820 Treasure Cir, Panama City, FL 32408
      View Details
    • $694,000
      0.13 Acres

      Adorable Duplex with Multiple Possibilities

      Upgraded duplex with short-term rental potential near lagoon access.
      3707 Mystic St, Panama City, FL 32408
      View Details
    • New
      $470,000
      Pending

      Like-New Duplex Near the Beach

      Updated duplex perfect for investors or multi-generational living.
      9020/9022 Houston St, Panama City, FL 32408
      View Details
    • $499,000
      1,920 SF

      Income-Producing Beach Duplex

      Renovated duplex near the beach, ideal for vacation rentals.
      6310 Sunset Ave, Panama City, FL 32408
      View Details
    • $1,200,000
      2,720 SF

      Lagoon Front Multi-Unit Home

      Income-producing property with three units and two boat houses.
      6722 S Lagoon Dr, Panama City, FL 32408
      View Details
    • $2,199,000
      21,184 SF

      Renovated Mixed-Use Panama City Property

      21,184 sq ft renovated commercial space on 2.5 acres.
      5420 Hickory St, Panama City, FL 32404
      View Details
    • $3,650,000
      3.74 Acres

      Panama City Commercial Opportunity

      Three parcels with established businesses and equipment for sale.
      1220 W 19Th St, Panama City, FL 32405
      View Details
    • $599,997
      0.31 Acres

      Turnkey Investment Opportunity in Panama

      Fully remodeled six-unit property generating $61,500 annual income.
      116 Springfield Ave, Panama City, FL 32401
      View Details
    • $949,000
      1,747 SF

      Turnkey Furnished Home in Prominence North

      Fully furnished, updated 3-bedroom home in Prominence North community.
      23 E York Ln, Inlet Beach, FL 32461
      View Details

    FAQs

    What type of property is this?
    Duplex - Modern duplex near the beach, perfect for short-term rentals.
    Where is this duplex located?
    The property is located at 6606 Thomas Dr #A Panama City, FL.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: - Turnkey duplex: Fully furnished and ready for immediate short-term rentals.; - Prime location: Just a 3-minute walk to the beach.; - High rental income potential: $124,000 gross in 2024, with $106,000+ already booked for 2025.
    Request Owner's contact information
    6606 Thomas Dr #A Panama City, FL 32408
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    6606 Thomas Dr #A
    Panama City, FL 32408
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    6606 Thomas Dr #A Panama City, FL 32408
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Nikol Naydenova
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.