Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Navy Boulevard Commercial Space Available Title is generated by Realmo AI

    200 Thomas Drive #'B', Panama City Beach, FL 32408

    View on Map
    Claim this Listing
    For Lease
    $30 SF/Yr $12,500/Mo (calc)

    New commercial building for lease, ideal for retail or office.

    Property size:
    5,000 SF
    Added:
    Jul 5, 2025
    Days on Market:
    328
    Last Refresh:
    Mar 16 at 9:09 am

    Property Features for 200 Thomas Drive #'B'

    General Information

    Standard status
    Active
    Size
    5,000 SF

    Building Details

    Year Built
    2025

    We can help!

    Listing Contact
    CHRISTOPHER S MCCALL

    Listing agent CHRISTOPHER S MCCALL License #666647

    Listing office COUNTS REAL ESTATE GROUP INC

    Listing date Jul 5, 2025

    Source Corcoran

    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 COUNTS REAL ESTATE GROUP INC

    HighLights

    • Prime location on Navy Boulevard, near Highway 98 and the Hathaway Bridge, offering high visibility and accessibility.
    • New construction (2025) ensures modern infrastructure and minimal maintenance.
    • Versatile space suitable for retail, office, showroom, or flex use.
    • Units available from 1,025 sq ft up to 4,100 sq ft, providing flexible sizing options.
    • Located across the street from the Navy Base, offering a built‑in customer base.
    • Landlord offers 'vanilla‑shell' delivery with finish‑to‑suit options, allowing customization.

    Overview

    This new commercial building on Navy Boulevard, formerly known as Thomas Drive, offers space for lease suitable for retail, office, showroom, and flex use. The property is located just south of Highway 98 at the Hathaway Bridge, adjacent to the Dive Center, and across from the Navy Base. New construction units are available, each offering 1,025 square feet, with up to 4,100 square feet available for lease. The base rent is $20.00 NNN per square foot, with operating expenses estimated at $4.00 per square foot. The landlord will deliver the space as a vanilla shell and offers finish-to-suit options.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Pharmacy Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Panama City Beach
    County
    Bay
    State
    Florida
    Longitude
    -85.760759
    Latitude
    30.185668

    Nearby Similar for Lease

    • $1,400/Mo
      500 SF

      Move-in Ready Beachside Commercial Space

      Functional commercial space near the beach in Panama City Beach.
      6126 Thomas Drive, Panama City Beach, FL 32408
      View Details
    • $12,000/Mo
      7,860 SF

      Panama City Beach Commercial Space

      Open showroom space with offices, storage, and easy access.
      483 Richard Jackson Boulevard, Panama City Beach, FL 32407
      View Details
    • $450/Mo
      2,336 SF

      Affordable Office Space For Rent

      Commercial office space available in Panama City Beach, Florida.
      8317 Front Beach Road, Panama City Beach, FL 32407
      View Details
    • $2,000/Mo

      Promenade Mall Office Space Available

      Large office space with plumbing in Panama City Beach, FL.
      8317 Front Beach Road 37D, Panama City Beach, FL 32408
      View Details
    • $1,750/Mo
      5,200 SF

      Updated Commercial Space with Warehouse

      Recently updated commercial space with office and warehouse areas.
      512 Commerce Drive, Panama City Beach, FL 32408
      View Details
    • Sponsored
      Contact for pricing

      FL, Panama City Beach - Panama City Pkwy

      14101 Panama City Beach Pkwy, Panama City Beach, FL 32413
      View Details
    • $4,000/Mo
      1,700 SF

      Turn-Key Office Space Available

      Professional office space available for sublease in Panama City Beach.
      100 R Jackson Boulevard, Panama City Beach, FL 32407
      View Details
    • $35 SF/Yr
      7,766 SF

      Retail/Medical/Office Space For Lease

      New construction retail/medical/office space available for lease.
      11697 PANAMA CITY BEACH PARKWAY, PANAMA CITY BEACH, FL 32407
      View Details
    • $2,475/Mo
      1,980 SF

      Prime Panama City Beach Parkway Frontage

      Highly visible flex space ideal for retail or industrial use.
      A-9210 Panama City Beach Pkwy, Panama City Beach, FL
      View Details
    • $46 SF/Yr
      5,135 SF

      Restaurant Property in Panama City Beach

      Net-leased restaurant property in high-traffic Panama City Beach location.
      10071 Hutchison Blvd, Panama City Beach, FL 32407
      View Details
    • $30 SF/Yr
      2,129 SF

      Class A Office Space Available

      New Class A office space for lease in Panama City Beach.
      209 Richard Jackson Boulevard, Panama City Beach, FL 32407
      View Details
    • $660/Mo
      48,737 SF

      High Visibility Office Space Available

      Office space with high visibility near major attractions and resorts.
      11205 Hutchison Boulevard #206B, Panama City Beach, FL 32407
      View Details

    FAQs

    What type of property is this?
    Retail space - New commercial building for lease, ideal for retail or office.
    Where is this retail space located?
    The property is located at 200 Thomas Drive #'B' Panama City Beach, FL.
    What is the lease rate?
    The lease rate is $30 SF/Yr.
    What are key features of this property?
    This property features: Prime location on Navy Boulevard, near Highway 98 and the Hathaway Bridge, offering high visibility and accessibility.; New construction (2025) ensures modern infrastructure and minimal maintenance.; Versatile space suitable for retail, office, showroom, or flex use.
    (850) 249-3615
    We can help!
    Listing Contact
    CHRISTOPHER S MCCALL
    Real Estate License ID: 666647
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    200 Thomas Drive #'B', Panama City Beach, FL 32408
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!