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    2209 Thomas Dr Panama City, FL 32408

    For Sale
    $1,600,000

    Bank building, 2,430 sq ft, 1.15 acres, high traffic.

    Property size:
    2,430 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    Exceptional investment opportunity in Panama City Beach, Florida, presents a 2,430 square foot commercial building situated on a spacious 1.15-acre lot (50,094 sq ft). Built in 1985, this special-purpose property previously served as a bank, retaining features ideal for similar ventures. Key features include a substantial walk-in vault and a convenient double drive-thru. The property boasts 21+ parking spaces and two separate entrances, ensuring ample accessibility. A digital sign is included in the sale. The high-visibility location benefits from daily traffic counts ranging from 20,000 to 30,000 vehicles, depending on the season. Its proximity to Panama City Beach's renowned beaches and numerous beachfront condominiums further enhances its appeal. Alternative uses could include a restaurant with a drive-thru, a cannabis dispensary, or other businesses requiring high visibility, substantial parking, and significant traffic flow. The property previously generated a monthly lease income of $8,000. Asking price is $1,600,000. This property offers significant potential for a strong return on investment. The address is 2209 Thomas Drive, Panama City Beach, FL 32408.

    Property Features for 2209 Thomas Dr

    General Information

    Property type
    Specialty properties
    Square Feet
    2,430 SF

    Building Details

    Year Built
    1985
    Property Profile Location Intelligence

    Current Use by Public Records

    Trinity Motorcar Company ... Car Dealer Trinity motor cars Used Car Dealer American Lift Company Contractor

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Bay
    State
    Florida
    Longitude
    -85.7545121
    Latitude
    30.163195

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    FAQs

    What type of property is this?
    Specialty property - Bank building, 2,430 sq ft, 1.15 acres, high traffic.
    Where is this specialty property located?
    The property is located at 2209 Thomas Dr Panama City, FL.
    What is the asking price?
    The asking price for this property is $1,600,000.
    Request Owner's contact information
    2209 Thomas Dr Panama City, FL 32408
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    Panama City, FL 32408
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2209 Thomas Dr Panama City, FL 32408
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