Corner Office Suite with
New
For Sale
$599,999
8730 Thomas Drive, Panama City, FL 32408
CommercialSale, Panama City, FL
Property Size2,482 SF
Lot Size1.55 Acres
Price / SF$241.74
Days on Market3
Property Features for 8730 Thomas Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Business, General Commercial
Subdivision
Plazas Of St.Thomas I
Lot features
Landscaped
Elementary school
Breakfast Point
Middle school
Breakfast Point
High school
Arnold
Directions
Intersection of Joan Drive and Thomas Drive - The Villas of St Thomas Square. The property is located at the NE corner of Thomas Drive and Joan Ave. The end unit, closest to US 98 and on the side where the new townhomes are being built.
Standard status
Active
APN
30473-101-000
Size
2,482 SF
Lot size
1.55 Acres
Taxes and HOA fees
Tax Description
PLAZAS OF ST THOMAS I UNIT 1101-R ORB 1021 P 1476 ORB 4055 P1930
HOA Fee
$5,259 Quarterly
Legal Description
PLAZAS OF ST THOMAS I UNIT 1101-R ORB 1021 P 1476 ORB 4055 P1930
Utilities
Heating system
Electric (Heating), Central
Cooling system
Ceiling Fan(s)
Building Details
Year built
1985
Floors in Building
4
Building materials
Block, VinylSiding
Listing Agency:
LoKation Real Estate
(850) 502-4862
Listed By:
Mihail I Stoyanov · License #BK3525922
(970) 691-0251
Added: Oct 12
Last Checked: Oct 14 at 7:06PM
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.
Investment Insights
Based on property information with market context.
This 2,482-square-foot office unit is configured with five private offices, a large conference room, and an expansive reception area. Floor-to-ceiling windows bring natural light into the offices. The interior also includes a full kitchen, two bathrooms, and rear storage space that may be adapted for another office or other needs.
Positioned at the corner on Thomas Drive, the ground-level suite is described as suitable for a range of commercial uses, subject to HOA approval. The interior was remodeled, and the flexible arrangement supports a mix of private and shared work areas.
Positioned at the corner on Thomas Drive, the ground-level suite is described as suitable for a range of commercial uses, subject to HOA approval. The interior was remodeled, and the flexible arrangement supports a mix of private and shared work areas.
Key Highlights
- 2,482 square feet on the ground level
- Five private offices and a large conference room
- 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
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 6.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$723.2K
$632.8K – $843.7K
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
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Current Use
Location Intelligence
Trade Area within ½ mile
395
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - A remodeled, ground-floor corner layout combines enclosed work areas with dedicated reception and meeting space.
Where is this office units located?
The property is located at 8730 Thomas Drive 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 feet on the ground level; Five private offices and a large conference room; Floor‑to‑ceiling windows in all offices
