8426 Thomas DrPanama City, FL 32408

Property Details for 8426 Thomas Dr

Year built

1983

Construction

STEEL FRAME

Lot size

0.17 AC

Property size (Sq ft)

2,796 SF

Zone code

BC03

Property type

Retail properties

Property subtype

Retail space

APN

30328-080-000

APU

30328080000

Description

This prime commercial property, located at 8426 Thomas Drive in Panama City Beach, Florida, 32408, presents a unique investment opportunity. The 7,405.2 square foot lot features a 36x60 metal building with a prominent double-faced billboard, ensuring high visibility in a high-traffic area. The property boasts excellent ingress and egress via Thomas Drive and Tarpon Street, offering convenient access for both customers and employees. Zoned for neighborhood commercial use, this versatile space is suitable for a wide range of businesses catering to both tourists and locals. The building itself includes a large roll-up garage door at the rear, providing ample access for loading and unloading. Extensive paved parking is available both in front and at the rear of the building. Its location offers exceptional proximity to beaches, gulf-front condos, entertainment venues, restaurants, and vacation rentals, capitalizing on the area's thriving tourism industry. Recent improvements include a new roof (December 2018), new metal siding on the mansard, east, and west sides (2014), and a new air conditioning system (2020). This property is priced at $1,050,000 and represents a compelling investment in a dynamic and desirable location within Bay County's tourist corridor. Please consult Bay County Planning and Zoning for a complete list of allowable uses.

• CAP approach

  CAP return

  Valuation

  6%

  $752,022

  6.5%

  $694,174

  7%

  $644,590

• Comparable approach

  Method

  Valuation

  Relative Method

  $500,894

  Geo Method

  $500,894

• Alternative Use

  Use

  Valuation

  Residential

  $585,562

  Hospitality

  $536,371

  Educational

  $446,255

  Medical

  $461,602

  Retail

  $694,174

Location Insight

City

Panama City Beach

County

Bay

State

Florida

Latitude

30.166

Longitude

-85.7859

CBSA code

37460

CBSA name

PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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