Ground-Floor End-Unit Mixed-Use
For Sale
Contact for pricing
8730 Thomas Dr, Panama City Beach, FL 32408
Built-out commercial space with extensive windows, signage opportunities, and on-site parking.
Property Size2,482 SF
Price / SF$281.63
Days on Market600
Property Features for 8730 Thomas Dr
General Information
Standard status
Active
Size
2,482 SF
Property subtype
Mixed Use, Office, Retail
Zoning
COMM
Investment Type
Owner/User
Additional Details
Floor
Ground Floor
Building Details
Year Built
1980
Year Renovated
2025
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Coldwell Banker Realty - Naples Central
Listed By:
Mihail Stoyanov · License #FL BK3525922
Source:
Crexi
Added: Jan 9, 2025
Changed: Aug 30
Last Checked: Aug 30 at 8:52PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty - Naples Central
Investment Insights
Based on property information with market context.
This 2,482 SF commercial condominium occupies a ground-floor end-unit position within St. Thomas Square. The space is fully built out and includes abundant windows that bring natural light throughout the interior. Its configuration is identified as suitable for medical, retail, and professional office operations, with additional signage opportunities associated with the end-unit placement. The property is zoned COMM and was built in 1980.
Located at 8730 Thomas Dr, Unit 1101, in Panama City Beach, the property sits in a high-traffic commercial corridor approximately 2 blocks from the beach. St. Thomas Square includes established neighboring tenants, while on-site parking serves customer and employee access. The location also benefits from both local and tourist traffic.
Located at 8730 Thomas Dr, Unit 1101, in Panama City Beach, the property sits in a high-traffic commercial corridor approximately 2 blocks from the beach. St. Thomas Square includes established neighboring tenants, while on-site parking serves customer and employee access. The location also benefits from both local and tourist traffic.
Key Highlights
- 2,482 SF ground‑floor commercial condominium
- End‑unit placement with additional signage opportunities
- Fully built‑out interior with abundant windows and natural light
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$41,733
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$834,660
$834.7K
Cap Rate 7%
$596,186
$596.2K
Cap Rate 9%
$463,700
$463.7K
Market Conditions
NOI Build-Up for 2,482 SF
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.
Gross rent
$70.0K $28.20/SF
− Vacancy
−$14.3K −$5.78/SF
EGI
$55.6K $22.42/SF
− OpEx
−$13.9K −$5.60/SF
NOI
$41.7K $16.81/SF
Area
Bay County, FL
Vacancy
20.50%
Lease Rate
$28.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$834,660
Cap Rate 7%
$596,186
Cap Rate 9%
$463,700
Alternative Uses
Best Use
Office B
$596.2K
$521.7K – $695.6K
NOI $41,733 @ 7.0% cap · market cap 5.97%
Second Best
Retail
$388.3K
$339.7K – $453.0K
NOI $27,178 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$723.2K
$632.8K – $843.7K
NOI $50,622 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
439
Businesses Nearby
Explore this area
Business Placement
Demographics for 32408, FL
17,479
Population
17,018
Households
1
Avg Household Size
48
Median Age
39%
College-Educated
96%
High-School Grad
8.6 sq mi
ZIP Area
2,032
Density / Sq Mi
$72,322
Median Household Income
$42,749
Median Earnings
$1,453
Median Rent
$352,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Built-out commercial space with extensive windows, signage opportunities, and on-site parking.
Where is this mixed-use property located?
The property is located at 8730 Thomas Dr Panama City Beach, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 2,482 SF ground‑floor commercial condominium; End‑unit placement with additional signage opportunities; Fully built‑out interior with abundant windows and natural light
