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    1114-1120 Thomas Dr Panama City Beach, FL 32408

    For Sale
    $2,200,000

    Class A Retail/Office, High NOI

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This exceptional Class A, 6,901 square foot retail/office building in Panama City Beach, Florida, presents a compelling investment opportunity. Built in 2008, the concrete block and steel-beam structure features a tile roof and a comprehensive fire sprinkler system with 24/7 monitoring. The property boasts ample parking and prominent signage on high-traffic Thomas Drive, directly across from the Naval Support System. The building comprises two units: a 4,985 square foot space currently leased to Taylor's Restaurant (previously Egg & I) under a long-term lease, and a 1,916 square foot unit occupied by Realty One Group of the Emerald Coast on a lease expiring September 2025. The property generates substantial annual rental income of approximately $141,808, including CAM charges, with expenses estimated at $50,000, resulting in a Net Operating Income (NOI) of approximately $91,808 and a 4.2% cap rate. The exterior has recently undergone sealing and painting. The property sits on a 43,560 square foot lot in a vibrant commercial area, surrounded by established businesses including Dunkin' Donuts, Burger King, and a La Quinta Inn. The seller is offering attractive financing terms: 25% down payment, 5.5% interest, and a 30-year amortization schedule with a 10-year call provision. This presents a rare chance to acquire a well-maintained, income-producing asset in a prime location with significant upside potential.

    Property Features for 1114-1120 Thomas Dr

    General Information

    Property type
    Specialty properties

    Building Details

    Year Built
    2008

    HighLights

    • Class A, 6,901 SF retail/office building in Panama City Beach, FL, built in 2008.
    • Two units: 4,985 SF leased to Taylor's Restaurant (long‑term lease) and 1,916 SF leased to Realty One Group (lease expires September 2025).
    • Strong income: Approx. $141,808 annual rental income, $91,808 NOI, 4.2% cap rate.
    • Prime location on high‑traffic Thomas Drive across from Naval Support System, near other established businesses.
    • Attractive financing terms available: 25% down, 5.5% interest, 30‑year amortization, 10‑year call.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Spa & Massage Dental Office Hair Salon Realty agency Clothing Store Nail Salon Food Market Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Panama City Beach
    County
    Bay
    State
    Florida
    Longitude
    -85.7604757
    Latitude
    30.1742488

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    FAQs

    What type of property is this?
    Specialty property - Class A Retail/Office, High NOI
    Where is this specialty property located?
    The property is located at 1114-1120 Thomas Dr Panama City Beach, FL.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: Class A, 6,901 SF retail/office building in Panama City Beach, FL, built in 2008.; Two units: 4,985 SF leased to Taylor's Restaurant (long-term lease) and 1,916 SF leased to Realty One Group (lease expires September 2025).; Strong income: Approx. $141,808 annual rental income, $91,808 NOI, 4.2% cap rate.
    Request Owner's contact information
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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
    1114-1120 Thomas Dr Panama City Beach, FL 32408
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