Breakfast Restaurant Commercial
9860 S Thomas Drive R-8, Panama City, FL 32408
For Sale
$843,885
Two entrances connect the space with Thomas Drive and the lake.
Property Size2,751 SF
Price / SF$306.76
Days on Market57
Property Features for 9860 S Thomas Drive R-8
General Information
Standard status
Size
Additional Details
Road Access
Building Details
Year Built
Listing Agency:
Coastal Living Realty & Associates
Listed By:
Denise Hindes
(404) 401-2444
Source:
Bemajorteam
Added: Sep 12
Changed: Oct 26
Last Checked: Nov 6 at 1:42PM
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
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Investment Insights
Based on property information with market context.
This commercial unit at Laketown Wharf is currently configured for breakfast restaurant use and includes two separate entrances. One entrance faces S Thomas Drive, while the second opens toward the lake. The property also offers on-site parking and was built in 2007.
The unit is located at 9860 S Thomas Drive in Panama City Beach, within a complex containing over 700 residential units and multiple retail businesses. Its position at the Laketown Wharf development places the space within a mixed residential and retail setting at a busy intersection.
The unit is located at 9860 S Thomas Drive in Panama City Beach, within a complex containing over 700 residential units and multiple retail businesses. Its position at the Laketown Wharf development places the space within a mixed residential and retail setting at a busy intersection.
Key Highlights
- Currently configured for breakfast restaurant use
- Two entrances: one facing S Thomas Drive and one opening toward the lake
- On‑site parking included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,613
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$692,260
$692.3K
Cap Rate 7%
$494,471
$494.5K
Cap Rate 9%
$384,589
$384.6K
Market Conditions
NOI Build-Up for 2,751 SF
Gross rent
$49.5K $18.00/SF
− Vacancy
−$3.4K −$1.22/SF
EGI
$46.2K $16.78/SF
− OpEx
−$11.5K −$4.19/SF
NOI
$34.6K $12.58/SF
Area
Bay County, FL
Vacancy
6.80%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$692,260
Cap Rate 7%
$494,471
Cap Rate 9%
$384,589
Alternative Uses
Best Use
Specialty Retail
$494.5K
$432.7K – $576.9K
NOI $34,613 @ 7.0% cap · market cap 4.10%
Second Best
Retail
$430.3K
$376.5K – $502.1K
NOI $30,123 @ 7.0% cap · market cap 3.57%
Theoretical Best
Office A
$801.5K
$701.4K – $935.1K
NOI $56,108 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
737
Businesses Nearby
175k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 49%
Dining 29%
Shops & Services 20%
Electronics 1%
Walmart
Superstores
85,761 visits/mo
0.3 miles
McDonald's
Dining
17,432 visits/mo
0.2 miles
Murphy USA
Shops & Services
14,818 visits/mo
0.3 miles
Zaxby's Chicken Fingers & Buffalo Wings
Dining
12,200 visits/mo
0.4 miles
Circle K
Shops & Services
10,766 visits/mo
0.2 miles
Demographics for 32408, FL
17,479
Population
17,018
Households
1
Avg Household Size
48
Median Age
39%
College-Educated
96%
High-School Grad
8.6 sq mi
ZIP Area
2,032
Density / Sq Mi
$72,322
Median Household Income
$42,749
Median Earnings
$1,453
Median Rent
$352,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
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
Frequently Asked Questions
What type of property is this?
Breakfast & diner - Two entrances connect the space with Thomas Drive and the lake.
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: Currently configured for breakfast restaurant use; Two entrances: one facing S Thomas Drive and one opening toward the lake; On‑site parking included
