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1114-1120 Thomas Dr Panama City Beach, FL 32408

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Class A Retail/Office, High NOI

Property Features for 1114-1120 Thomas Dr

General Information

Property type
Specialty properties

Building Details

Year Built
2008

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Listing Contact
Ken J Varnes

Listing Agency: VARNES REALTY Listing Agent: Ken J Varnes

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Overview

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 Profile Location Intelligence

Current Use by Public Records

Commercial real estate

Suggested Use

Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Real Estate Agency Nail Salon Food Market Daycare Center Pharmacy

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

Location Insight

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City
Panama City Beach
County
Bay
State
Florida
Longitude
-85.7604757
Latitude
30.1742488

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.
(850) 896-0910 Call to check price and availability
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