Building Details

Year Built 1985

Listing Agency: LOKATION REAL ESTATE Show Phone

Listed By: MIHAIL I STOYANOV · License #BK3525922 Show Phone

Source: Corcoran

Added: Oct 13 Changed: Oct 15 Last Checked: Oct 15 at 1:56AM

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Investment Insights

Based on property information with market context.

At 8730 Thomas Drive, Unit 1101, this 2,482-square-foot office unit was built in 1985 and has been remodeled. The ground-level corner layout includes five private offices, a reception area, a conference room, and rear storage space. Floor-to-ceiling windows bring natural light into the offices. A full kitchen and two bathrooms are also part of the suite.

The property is on Thomas Drive in Panama City Beach, a short distance from the beach. Potential uses described for the space include professional offices, medical or outpatient services, wellness businesses, retail, and entertainment; any use requires HOA approval.

Key Highlights

• 2,482‑square‑foot office unit
• Five private offices, reception area, conference room, and rear storage
• Ground‑level corner unit with floor‑to‑ceiling windows in all offices

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$41,733

Cap Rate

6.96%

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

Is this asking price fair?

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 (±1% cap)

NOI $41,733 @ 7.0% cap · market cap 6.96%

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 Auto Repair Shop Furniture & Home Goods Law Firm Gym & Fitness Center Bakery

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

Explore this area 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

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office units - Ground-level office space offers a five-office layout, a full kitchen, and two bathrooms.

Where is this office units 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: 2,482‑square‑foot office unit; Five private offices, reception area, conference room, and rear storage; Ground‑level corner unit with floor‑to‑ceiling windows in all offices