Gulf View Commercial
6908 Thomas Drive Panama City Beach, FL 32408
For Sale
$1,900,000
Prime commercial property with Gulf views and development potential.
Property Size6,985 SF
Lot Size0.54 Acres
Price / SF$272.01
Days on Market289
Property Features for 6908 Thomas Drive
General Information
Standard status
Active
Size
6,985 SF
Lot size
0.54 Acres
Property subtype
Commercial
Listing Agency:
COUNTS REAL ESTATE GROUP INC
(850) 249-3615
Listed By:
CHRISTOPHER S MCCALL · License #666647
Source:
Corcoran
Added: Oct 13, 2025
Changed: Jul 10
Last Checked: Jul 27 at 6:23AM
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
Investment Insights
Based on property information with market context.
This 0.54-acre Gulf-view property is zoned C-1 Neighborhood Commercial, offering a range of development possibilities. Located in Panama City Beach, it is situated 800 feet from the Gulf of America. The existing 6,985 square foot building sits on a lot with 100 feet of frontage on Thomas Drive, extending 235 feet to Beach Drive. The building is of masonry (concrete block) construction. The second floor includes three office or storage rooms and additional bathrooms. The property benefits from high visibility in a tourist area, surrounded by high-rise condos, restaurants, public beach access, and attractions. It previously operated as a bar and restaurant. Recent renovations include a complete build-out and a new HVAC system. An on-site monument sign is present. Inventory is available for purchase if the buyer wishes to maintain the existing Sunny Side Beach Store. The property is not in a flood zone and contains no wetlands. It is one block from the Gulf. The C-1 zoning allows for commercial, mixed-use, or multifamily development with a density of up to 15 units per acre, a maximum building height of 35 feet, an impervious surface ratio of 60%, a floor area ratio of 100%, and setbacks of 20 feet front and rear, and 5 feet on the sides.
Key Highlights
- Prime Gulf‑view location on Thomas Drive in the heart of Panama City Beach, offering high visibility.
- Zoned C‑1 Neighborhood Commercial, allowing for commercial, mixed‑use, or multifamily development.
- Substantial 0.54‑acre property with 100 feet of frontage on Thomas Drive.
Financial Insights For Retail
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 | $119.0k | $17.04 |
| − Vacancy | −$9.8k | −$1.40 |
| EGI | $109.3k | $15.64 |
| − OpEx | −$32.8k | −$4.69 |
| NOI | $76.5k | $10.95 |
6,985 SF · lease $17.04/SF/yr · vacancy 8.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.09M
$956.1K – $1.27M
NOI $76,485 @ 7.0% cap · market cap 4.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.04M
$1.78M – $2.37M
NOI $142,463 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Storefront property - Prime commercial property with Gulf views and development potential.
Where is this storefront property located?
The property is located at 6908 Thomas Drive Panama City Beach, FL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Prime Gulf‑view location on Thomas Drive in the heart of Panama City Beach, offering high visibility.; Zoned C‑1 Neighborhood Commercial, allowing for commercial, mixed‑use, or multifamily development.; Substantial 0.54‑acre property with 100 feet of frontage on Thomas Drive.
