Gulf View Commercial
6908 Thomas Dr Panama City, FL
For Sale
Contact for pricing
Prime commercial opportunity near the Gulf of America.
Property Size6,985 SF
Lot Size0.95 Acres
Price / SF$272.01
Days on Market289
Property Features for 6908 Thomas Dr
General Information
- Standard status
- Active
- Size
- 6,985 SF
- Lot size
- 0.95 Acres
- Property subtype
- RETAIL
Listing Agency:
Counts Real Estate Group
(850) 814-9889
Listed By:
Christopher McCall, SIOR
(850) 814-9889
Source:
Moodyscre
Added: Oct 11, 2025
Changed: Jul 10
Last Checked: Jul 21 at 4:05AM
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
Investment Insights
Based on property information with market context.
This 0.54-acre Gulf-view property is zoned C-1 Neighborhood Commercial, offering various development possibilities. Located in Panama City Beach, it is situated 800 feet from the Gulf of America. The 6,985 square foot building includes 0.54 of an acre with 100 feet of frontage on Thomas Drive, extending 235 feet through to Beach Drive. The building is of masonry (concrete block) construction. The second floor includes 3 office/storage rooms, and additional bathrooms. It features high visibility in a tourist corridor, surrounded by high-rise condos, restaurants, public beach access, and major attractions. Previously operated as a bar/restaurant. Recent renovations include a complete build-out and new HVAC system. An on-site monument sign is present. The property is not in a flood zone and has no wetlands. It is zoned C-1 ''Neighborhood Commercial'', which 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 ft front/rear, 5 ft side.
Key Highlights
- Prime Gulf‑view location on Thomas Drive in the heart of Panama City Beach.
- Zoned C‑1 Neighborhood Commercial, allowing for commercial, mixed‑use, or multifamily development.
- High visibility in a bustling tourist corridor with high‑rise condos, restaurants, and beach access.
Financial Insights For Specialty 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 | $150.9k | $21.60 |
| − Vacancy | −$9.1k | −$1.30 |
| EGI | $141.8k | $20.30 |
| − OpEx | −$35.5k | −$5.08 |
| NOI | $106.4k | $15.23 |
6,985 SF · lease $21.60/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.52M
$1.33M – $1.77M
NOI $106,368 @ 7.0% cap · market cap 5.60%
Second Best
Retail
$1.15M
$1.01M – $1.34M
NOI $80,530 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $122,964 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Irwin Family Water ...
Plumbing Service
Sunnyside beach store
Beach Clothing Store
FAQs
What type of property is this?
Storefront property - Prime commercial opportunity near the Gulf of America.
Where is this storefront property located?
The property is located at 6908 Thomas Dr Panama City, 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.; Zoned C‑1 Neighborhood Commercial, allowing for commercial, mixed‑use, or multifamily development.; High visibility in a bustling tourist corridor with high‑rise condos, restaurants, and beach access.
