Commercial Property on Busy
For Sale
Contact for pricing
6504 Thomas Drive, Panama City Beach, FL 32408
Commercial property with 8 offices on a 50x115 lot.
Property Size2,608 SF
Lot Size0.13 Acres
Price / SF$421.40
Days on Market716
Property Features for 6504 Thomas Drive
General Information
Standard status
Active
Size
2,608 SF
Lot size
0.13 Acres
Property subtype
Special Purpose
Building Details
Year Built
1989
Listing Agency:
Compass Florida, LLC
Listed By:
The Warren Group · License #3016863
(850) 502-6035
Source:
Crexi
Added: Oct 27, 2024
Changed: Oct 1
Last Checked: Oct 11 at 4:30AM
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 Compass Florida, LLC
Investment Insights
Based on property information with market context.
This commercial property is situated on a 50x115 lot with frontage on a busy road in Panama City Beach. The property is partially built out, offering the opportunity for a buyer to customize the remaining unfinished spaces. The existing structure includes 8 offices. Ample parking is available in both the front and back of the property, providing options for storage or continued parking use. This property is suitable for business owners, investors, and creatives.
Key Highlights
- High‑traffic frontage on a busy Panama City Beach road.
- Commercial property suitable for business owners, investors, and creatives.
- Partially built‑out with 8 offices, allowing for customization.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,852
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$877,040
$877.0K
Cap Rate 7%
$626,457
$626.5K
Cap Rate 9%
$487,244
$487.2K
Market Conditions
NOI Build-Up for 2,608 SF
Gross rent
$73.5K $28.20/SF
− Vacancy
−$15.1K −$5.78/SF
EGI
$58.5K $22.42/SF
− OpEx
−$14.6K −$5.60/SF
NOI
$43.9K $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 Rate 5%
$877,040
Cap Rate 7%
$626,457
Cap Rate 9%
$487,244
Alternative Uses
Best Use
Office B
$626.5K
$548.2K – $730.9K
NOI $43,852 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$759.9K
$664.9K – $886.5K
NOI $53,192 @ 7.0% cap · market cap 4.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
419
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Commercial property with 8 offices on a 50x115 lot.
Where is this office units located?
The property is located at 6504 Thomas Drive Panama City Beach, FL.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: High‑traffic frontage on a busy Panama City Beach road.; Commercial property suitable for business owners, investors, and creatives.; Partially built‑out with 8 offices, allowing for customization.
