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Gulf View Commercial Property

6908 Thomas Drive Panama City Beach, FL 32408

6908 Thomas Drive, Panama City Beach, FL, 32408
$1,900,000
For Sale
Claim this Listing
$1,900,000

Prime commercial property with Gulf views and development potential.

Property Size6,985 SF
Lot Size0.54 Acres
Price / SF$272.01
AddedOct 13, 2025
Days on Market276
Last RefreshApr 5 at 8:29 pm

Property Features for 6908 Thomas Drive

General Information

Standard status
Active
Size
6,985 SF
Lot size
0.54 Acres
Property subtype
Commercial

Listing office COUNTS REAL ESTATE GROUP INC

Listing date Oct 13, 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


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.

Local 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 (±1% cap)
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 (±1% cap)
NOI $142,463 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Storefront properties

Suggested Use

Law Firm Hair Salon Building Supply Auto Repair Shop Big Box & Wholesale Store HVAC Service Nail Salon Grocery & Convenience Store Storage Facility Cafe & Coffee Shop

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

FAQs

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.
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