8700 Thomas Dr Panama City Beach, FL 32408

This exceptional mixed-use commercial property, located at 8700 S Thomas Dr, Panama City Beach, FL 32408, presents a compelling investment opportunity. The 2,482 square foot space, built in 1980 and renovated in 2008, is currently 100% occupied under a triple-net (NNN) lease with a franchisee tenant. The lease commenced December 1, 2022, and expires November 30, 2025, with one year remaining. The annual net operating income (NOI) is $50,132, yielding a 7.97% cap rate. The asking price is $629,000, translating to $253.42 per square foot. The property features ample parking with 83 spaces and benefits from high visibility due to its end-unit location within a plaza containing diverse businesses, including a restaurant, liquor store, coffee shop, dentist office, hair studio, and grocery store. The interior boasts a large front desk, waiting area (easily partitioned into an additional office), four extra-large offices, a spacious conference room, laundry room with washer and dryer, storage closet, additional storage space (potentially another office), kitchen/breakroom, and bathrooms. The property is zoned COMM and offers three lease options. The lease includes annual rent bumps of 3.5%. This versatile space is suitable for various uses, including medical, office, or retail. The building is single-story.