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    Property profile & analytics

    9875 Thomas Dr Panama City Beach, FL 32408-4218

    • Bars & Pubs
    • 17,776 SF
    • 2.90 lot acres
    OFF-MARKET
    Value Estimations
    $1,160,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2254984
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Bars & Pubs

    Property Details for 9875 Thomas Dr

    Year built
    1984
    Construction
    WOOD
    Lot size
    2.90 lot acres
    Property size
    17,776 SF
    Zone code
    PCB21
    Property type
    Bars & Pubs
    APN
    34988-040-000
    APU
    34988040000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NIGHTCLUB (COCKTAIL LOUNGE)
      $1,250,000
      Current use
      RESTAURANT
      $1,735,000
      Change: +38% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,695,000
      Change: +36% Conversion: Difficult
      RETAIL STORES
      $1,150,000
      Change: -8% Conversion: Difficult
      MEDICAL BUILDING
      $1,145,000
      Change: -8% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Panama City Beach
    County
    Bay
    State
    Florida
    Longitude
    -85.8053
    Latitude
    30.1753
    CBSA code
    37460
    CBSA name
    PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $99,641
    $8,167,500
    $651,837
    $8,819,337
    -
    $8,167,500
    $651,837
    $8,819,337

    Comparable in this City

    • Value Estimation
      $2,405,000
      43,714 SF

      8813 Thomas Dr

      NIGHTCLUB (COCKTAIL LOUNGE) • 43,714 SF
      8813 Thomas Dr, Panama City Beach, FL 32408-4029
      View Details
    • Value Estimation
      $610,000
      9,438 SF

      8711 Thomas Dr

      NIGHTCLUB (COCKTAIL LOUNGE) • 9,438 SF
      8711 Thomas Dr, Panama City Beach, FL 32408-4001
      View Details
    • Value Estimation
      $1,500,000
      6,063 SF

      4723 Thomas Dr

      NIGHTCLUB (COCKTAIL LOUNGE) • 6,063 SF
      4723 Thomas Dr, Panama City Beach, FL 32408-7322
      View Details
    • Value Estimation
      $545,000
      6,685 SF

      5121 Gulf Dr

      NIGHTCLUB (COCKTAIL LOUNGE) • 6,685 SF
      5121 Gulf Dr, Panama City Beach, FL 32408-6903
      View Details
    • Value Estimation by Request
      4,602 SF

      2727 Joan Ave

      NIGHTCLUB (COCKTAIL LOUNGE) • 4,602 SF
      2727 Joan Ave, Panama City Beach, FL 32408-4125
      View Details
    • Value Estimation by Request
      2,524 SF

      6526 Thomas Dr

      NIGHTCLUB (COCKTAIL LOUNGE) • 2,524 SF
      6526 Thomas Dr, Panama City Beach, FL 32408
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,985 SF

      Gulf View Commercial Opportunity

      Prime commercial property near the Gulf of Mexico on Thomas Drive.
      6908 Thomas Dr, Panama City Beach, FL 32408
      View Details
    • $1,490,000
      2,430 SF

      Versatile Commercial Building For Sale

      Former bank building suitable for office, restaurant, or retail.
      2209 Thomas Dr, Panama City, FL 32408
      View Details
    • Contact for pricing
      2,430 SF

      Former Bank with Drive-Thru

      Bank building, 2,430 sq ft, 1.15 acres, high traffic.
      2209 Thomas Dr, Panama City Beach, FL 32408
      View Details
    • $843,885
      2,751 SF

      Laketown Wharf Commercial Unit

      2679 SF commercial unit suitable for retail or restaurant.
      9860 S Thomas Dr, Panama City, FL 32408
      View Details
    • $1,900,000
      6,985 SF

      Gulf View Commercial Property

      Prime commercial property near the Gulf of America.
      6908 Thomas Dr, Panama City Beach, FL 32408
      View Details
    • $2,200,000
      7,487 SF

      Retail/Office Building on Thomas Drive

      Class A building with two units and ample parking.
      1114-1120 Thomas Dr, Panama City Beach, FL 32408
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Near Gulf Coast

      Retail space with high visibility near the Gulf Coast.
      2533 Thomas Dr, Panama City, FL 32408
      View Details
    • $30 SF/Yr
      5,000 SF

      New Commercial Building For Lease

      New commercial building ideal for retail, office, showroom, and flex.
      200 Thomas Dr, Panama City Beach, FL 32408
      View Details
    • Contact for pricing
      1,250 SF

      New Commercial Building on Navy

      New commercial building ideal for retail, office, showroom, and flex.
      200 Thomas Dr, Panama City, FL 32408
      View Details
    • $6,000 /Mo

      Prime Panama City Beach Outparcel

      High-visibility 1-acre outparcel near NSA Panama City Naval Base.
      7099 Highway 98 W, Panama City Beach, FL 32408
      View Details
    • $30 SF/Yr
      5,000 SF

      Navy Boulevard Commercial Space

      Commercial space for lease, ideal for retail or office.
      200 Navy Blvd, Panama City Beach, FL 32408
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Panama City

      Retail space available in Publix-anchored shopping center.
      2419-2439 Thomas Dr, Panama City, FL 32408
      View Details
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    Panama City Beach, FL 32408-4218
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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