Laketown Wharf Commercial
9860 S Thomas Drive #R-8 Panama City, FL 32408
9860 S Thomas Drive #R-8, Panama City, FL, 32408
$843,885
For Sale
$843,885
2679 SF commercial unit suitable for retail or restaurant.
Property Size2,751 SF
Price / SF$306.76
Days on Market301
Property Features for 9860 S Thomas Drive #R-8
General Information
- Standard status
- Active
- Size
- 2,751 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 10:02 am Checked: Jul 20 at 3:57 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.
This commercial unit, offering 2679 square feet of space, is located at Laketown Wharf. Currently operating as a breakfast restaurant, the unit is adaptable to various retail business types. It features two entrances, one facing Thomas Drive and another on the lake side. The property benefits from high visibility within the complex, which includes over 700 residential units and multiple retail businesses, ensuring a consistent flow of potential customers. Situated at a busy intersection in Panama City Beach, Laketown Wharf provides significant exposure for any retail business. The Property Size is 2751 square feet.
Key Highlights
- High visibility location at a busy intersection in Panama City Beach
- Two entrances: one facing Thomas Drive and one on the lake
- Located within Laketown Wharf, a complex with over 700 residential units
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 | $59.4k | $21.60 |
| − Vacancy | −$3.6k | −$1.30 |
| EGI | $55.9k | $20.30 |
| − OpEx | −$14.0k | −$5.08 |
| NOI | $41.9k | $15.23 |
2,751 SF · lease $21.60/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$598.5K
$523.7K – $698.2K
NOI $41,892 @ 7.0% cap · market cap 4.96%
Second Best
Retail
$453.1K
$396.5K – $528.6K
NOI $31,716 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$691.8K
$605.4K – $807.2K
NOI $48,429 @ 7.0% cap · market cap 5.74%
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
- Clearwater Beach, FL — 10719 Front Beach Rd, Panama City Beach, FL 32407
- The Nest Egg — 163 Robin Ln, Panama City Beach, FL 32407
FAQs
What type of property is this?
Breakfast & diner - 2679 SF commercial unit suitable for retail or restaurant.
Where is this breakfast & diner located?
The property is located at 9860 S Thomas Drive #R-8 Panama City, FL.
What is the asking price?
The asking price for this property is $843,885.
What are key features of this property?
This property features: High visibility location at a busy intersection in Panama City Beach; Two entrances: one facing Thomas Drive and one on the lake; Located within Laketown Wharf, a complex with over 700 residential units
