9860 S Thomas Drive #R-11 Panama City, FL 32408
9860 S Thomas Drive #R-11, Panama City, FL, 32408
$305,865
For Sale
$305,865
Conventional restaurants
Property Size1,001 SF
Price / SF$305.56
Days on Market301
Property Features for 9860 S Thomas Drive #R-11
General Information
- Standard status
- Active
- Size
- 1,001 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2007
Listing Agency
COASTAL LIVING REALTY & ASSOCIATES
(404) 401-2444
Listed by
DENISE HINDES
Source
Corcoran
Added: Sep 23, 2025 Updated: Jul 6 at 9:55 am Checked: Jul 19 at 4:35 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of COASTAL LIVING REALTY & ASSOCIATES
Investment Insights
Based on property information with market context.
Key Highlights
- Unparalleled visibility at one of the busiest intersections in Panama City Beach.
- Existing restaurant setup in a retail unit at Laketown Wharf.
- High‑density on‑site customer base with over 700 residential units and short‑term vacation renters.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $21.6k | $21.60 |
| − Vacancy | −$1.3k | −$1.30 |
| EGI | $20.3k | $20.30 |
| − OpEx | −$5.1k | −$5.08 |
| NOI | $15.2k | $15.23 |
1,001 SF · lease $21.60/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$217.8K
$190.5K – $254.1K
NOI $15,243 @ 7.0% cap · market cap 4.98%
Second Best
Retail
$164.9K
$144.3K – $192.4K
NOI $11,541 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$251.7K
$220.3K – $293.7K
NOI $17,622 @ 7.0% cap · market cap 5.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Candymaker Ice Cream ...
Grocery & Convenience Store
Jeffrey Gillam REALTOR ...
Real Estate Agency
Tropical Theme Beachside ...
Condominium Complex
Southeast Architects and Engineers, ...
Engineering Consultant
Similar For Sale Nearby
Similar Off Market Nearby
- The Wharf Buffet — 9902 S Thomas Dr, Panama City Beach, FL 32408
- Captain Jacks — Panama City Beach, FL 32407
- Jin Jin Super King — 9802 Front Beach Rd, Panama City Beach, FL 32407
- All American Diner — 10590 Front Beach Rd, Panama City Beach, FL 32407
FAQs
Where is this conventional restaurant located?
The property is located at 9860 S Thomas Drive #R-11 Panama City, FL.
What is the asking price?
The asking price for this property is $305,865.
What are key features of this property?
This property features: Unparalleled visibility at one of the busiest intersections in Panama City Beach.; Existing restaurant setup in a retail unit at Laketown Wharf.; High‑density on‑site customer base with over 700 residential units and short‑term vacation renters.
