Retail Space with Dual-Facing
New
For Sale
$305,865
9860 S Thomas Drive R-12, Panama City, FL 32408
A commercial unit at Laketown Wharf offers access from Thomas Drive and the lake side.
Property Size1,001 SF
Price / SF$305.56
Days on Market5
Property Features for 9860 S Thomas Drive R-12
General Information
Standard status
Active
Size
1,001 SF
Amenities
false
1001
Building Details
Building Size
1,001 SF
Year Built
2007
Listing Agency:
Coastal Living Realty & Associates
(850) 660-0313
Listed By:
Scott Harris
Source:
Chipola
Added: Oct 30
Changed: Nov 2
Last Checked: Oct 30 at 2:23PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This retail unit at Laketown Wharf has entrances facing Thomas Drive and the lake. The property information gives two different area figures, so neither is included here.
The address is 9860 S Thomas Drive R-12 in Panama City, Florida. The building was constructed in 2007.
The address is 9860 S Thomas Drive R-12 in Panama City, Florida. The building was constructed in 2007.
Key Highlights
- Two entrances face Thomas Drive and the lake
- Located at 9860 S Thomas Drive R‑12 in Panama City, Florida
- Year built: 2007
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,961
Cap Rate
3.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$219,220
$219.2K
Cap Rate 7%
$156,586
$156.6K
Cap Rate 9%
$121,789
$121.8K
Market Conditions
NOI Build-Up for 1,001 SF
Gross rent
$17.1K $17.04/SF
− Vacancy
−$1.4K −$1.40/SF
EGI
$15.7K $15.64/SF
− OpEx
−$4.7K −$4.69/SF
NOI
$11.0K $10.95/SF
Area
Bay County, FL
Vacancy
8.20%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$219,220
Cap Rate 7%
$156,586
Cap Rate 9%
$121,789
Alternative Uses
Best Use
Retail
$156.6K
$137.0K – $182.7K
NOI $10,961 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$291.7K
$255.2K – $340.3K
NOI $20,416 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
737
Businesses Nearby
175k
Monthly Visits Nearby
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
Frequently Asked Questions
What type of property is this?
Retail space - A commercial unit at Laketown Wharf offers access from Thomas Drive and the lake side.
Where is this retail space located?
The property is located at 9860 S Thomas Drive R-12 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: Two entrances face Thomas Drive and the lake; Located at 9860 S Thomas Drive R‑12 in Panama City, Florida; Year built: 2007
