Corner Office
8730 Thomas Drive, Panama City, FL 32408
For Sale
$589,900
CommercialSale, Panama City, FL
Property Size2,482 SF
Lot Size1.55 Acres
Price / SF$237.67
Days on Market33
Property Features for 8730 Thomas Drive
General Information
Property type
Property subtype
Zoning description
Subdivision
Lot features
Elementary school
Middle school
High school
Directions
Standard status
APN
Size
Lot size
Additional Details
Property Use
Condition
Taxes and HOA fees
Tax Description
HOA Fee
Legal Description
Utilities
Heating system
Cooling system
Amenities
pool
hot tub
gym
Building Details
Year built
Floors in Building
Building materials
Listing Agency:
LoKation Real Estate
(850) 502-4862
Listed By:
Mihail I Stoyanov · License FL BK3525922
(970) 691-0251
Added: Oct 12
Changed: Nov 10
Last Checked: Nov 13 at 10:06PM
MLS# 796469
Copyright © 2026 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2,482-square-foot, ground-level office unit has a corner position and a remodeled interior. The layout includes five private offices, a large reception area, a conference room, a full kitchen, and two bathrooms. Floor-to-ceiling windows bring natural light into the offices, and a rear area currently used for storage offers additional interior space.
The property is part of a commercial condominium association. Association services include water, sewer, trash removal, landscaping, parking lot upkeep, building maintenance, and building and hurricane insurance. Owners also have access to a pool, hot tub, and gym. Any proposed use requires HOA approval.
The property is part of a commercial condominium association. Association services include water, sewer, trash removal, landscaping, parking lot upkeep, building maintenance, and building and hurricane insurance. Owners also have access to a pool, hot tub, and gym. Any proposed use requires HOA approval.
Key Highlights
- 2,482‑square‑foot ground‑level corner office unit
- Five private offices and a large reception area
- Conference room, full kitchen, and two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,733
Cap Rate
7.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$834,660
$834.7K
Cap Rate 7%
$596,186
$596.2K
Cap Rate 9%
$463,700
$463.7K
Market Conditions
NOI Build-Up for 2,482 SF
Gross rent
$70.0K $28.20/SF
− Vacancy
−$14.3K −$5.78/SF
EGI
$55.6K $22.42/SF
− OpEx
−$13.9K −$5.60/SF
NOI
$41.7K $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%
$834,660
Cap Rate 7%
$596,186
Cap Rate 9%
$463,700
Alternative Uses
Best Use
Office B
$596.2K
$521.7K – $695.6K
NOI $41,733 @ 7.0% cap · market cap 7.07%
Second Best
Healthcare Medical
$495.8K
$433.8K – $578.5K
NOI $34,707 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$723.2K
$632.8K – $843.7K
NOI $50,622 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
395
Businesses Nearby
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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
$352,400
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Panama City, FL
Properties on Market for Office Units in Panama City
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Five private offices, a conference room, and a full kitchen support a range of professional business layouts.
Where is this office unit located?
The property is located at 8730 Thomas Drive Panama City, FL.
What is the asking price?
The asking price for this property is $589,900.
What are key features of this property?
This property features: 2,482‑square‑foot ground‑level corner office unit; Five private offices and a large reception area; Conference room, full kitchen, and two bathrooms
