Building Details

Building Size 2,482 SF

Year Built 1985

Stories 4

Listing Agency: The K Company Realty LLC dba LoKation®

Listed By: Mihail I Stoyanov · License #BK3525922 Show Phone

Source: Evrealestate

Added: Oct 12 Changed: Oct 21 Last Checked: Oct 23 at 8:06AM

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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 The K Company Realty LLC dba LoKation®

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Investment Insights

Based on property information with market context.

This storefront is an end unit in The Villas of St Thomas Square, built in 1985. Interior features include ceiling fans and central electric service. The property carries Business, General Commercial zoning.

The unit is at the northeast corner of Thomas Drive and Joan Avenue, nearest to US 98 within the property. New townhomes are being built on the same side.

Key Highlights

• End unit in The Villas of St Thomas Square
• Business, General Commercial zoning
• Built in 1985

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$27,178

Cap Rate

4.53%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$543,560 $543.6K

Cap Rate 7%

$388,257 $388.3K

Cap Rate 9%

$301,978 $302.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,482 SF

Gross rent

$42.3K $17.04/SF

− Vacancy

−$3.5K −$1.40/SF

EGI

$38.8K $15.64/SF

− OpEx

−$11.6K −$4.69/SF

NOI

$27.2K $10.95/SF

Area

Bay County, FL

Vacancy

8.20%

Lease Rate

$17.04 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$543,560

Cap Rate 7%

$388,257

Cap Rate 9%

$301,978

Alternative Uses

Best Use

Retail

$388.3K

$339.7K – $453.0K (±1% cap)

NOI $27,178 @ 7.0% cap · market cap 4.53%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$723.2K

$632.8K – $843.7K (±1% cap)

NOI $50,622 @ 7.0% cap · market cap 8.44%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Beach Dental Studio Dental Office Benchmark Management PCB Vacation Rental Panama City Beach ... Brewery & Distillery Lagoon Landings Vacation ... Vacation Rental Veteran Adjusters, Inc. Financial Advisor

Suggested Use

Top Pick Dental Office Furniture & Home Goods Law Firm Gym & Fitness Center Bakery Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

439

Businesses Nearby

30k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 52% Shops & Services 48%

Wendy's Dining

7,946 visits/mo 0.1 miles

Dollar General Shops & Services

7,317 visits/mo 0.3 miles

Guadalajara Dining

7,175 visits/mo 0.1 miles

Mobil Shops & Services

3,070 visits/mo 0.3 miles

Exxon Shops & Services

2,996 visits/mo 0.3 miles

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

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - The space is zoned Business, General Commercial and includes ceiling fans and central electric service.

Where is this storefront property located?

The property is located at 8730 Thomas Drive 1101 Panama City, FL.

What is the asking price?

The asking price for this property is $599,999.

What are key features of this property?

This property features: End unit in The Villas of St Thomas Square; Business, General Commercial zoning; Built in 1985