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8727 Thomas Drive #UNIT B1, Panama City Beach, FL 32408
$499,000
8727 Thomas Drive #UNIT B1, Panama City Beach, FL 32408View this property at 8727 Thomas Drive #UNIT B1, Panama City Beach, FL 32408
8727 Thomas Drive #UNIT B1Panama City BeachFL32408
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Property Description
LOWEST PRICED 3 Bed / 3 Bath condo on the ENTIRE BEACH!!! You heard that right, on the ENTIRE BEACH! And this one... it generates a significant return on investment each year based on actual rentals - NOT projections! It's time for a little needed honesty... The condo market has really slowed down a TON these past several months. Inventory is higher than it has been in several years, and to be perfectly transparent, most condos on the beach LOOSE MONEY every month! It is becoming harder and harder to find a condo that is truly a solid investment, and finding one that generates a positive return on investment can seem like finding a needle in a haystack. Have you tried finding a Gulf View condo that generates a 10%+ Return on Investment (ROI) in today's market? If you did, was it based on ACTUAL rentals and NOT overinflated projections? Although finding such an opportunity might not seem possible with 7%+ interest rates, this incredible rental machine does EXACTLY that, and has the history to prove it! And did I mention... it is amongst the lowest quarterly HOA dues of ALL available comps?!? Experienced investors are trained to "love" the number and simply "like" the property, but why not have both? With actual rentals of nearly $80k in 2022, and with over $50k in bookings just halfway through 2023, the numbers clearly speak to this incredible opportunity. What makes this perfectly situated End Unit so unique amongst all the other condos in PCB is that not only does it boast incredible ACTUAL rentals, but it is also truly "one of a kind" inside and out. The moment you walk inside, you find yourself amazed by the attention to detail, the high-end updates, and the incredible abundance of space. With brand new tile flooring downstairs ($8k), a beautifully updated and fully stocked kitchen with new cabinetry/counter tops/stainless appliances, beautiful coastal style LVP flooring upstairs, 3 large private bedrooms and bathrooms (featuring tile showers), and some of the best views in all of PCB, it's easy to see why this condo absolutely crushes it with rentals! Location, location, location... Another key requirement for generating strong rentals is location, and this is perhaps where this condo outshines ALL other competition. Park directly at your door and never touch the car again! For the kiddos, there are go cart tracks, video arcades, mini golf courses, thrill rides, ice cream shops, souvenir shops, and the list goes on! For the adults, there are numerous bars/restaurants right outside your door - including the Famous Ms. Newby's! No need to drive after those adult beverages, your condo is perfectly located just a few seconds away!!! Although the legendary action of Thomas Dr is right outside your front door, if it's peace and quiet you seek, you will lose yourself in the serenity of the lush and peaceful oasis just out back. Both balconies overlook a pristine koi/turtle pond and one of the most unique greenspaces in all of PCB. You will not find another property in town that is directly on the beach - yet also offers such an incredible courtyard with a pool, tennis/pickleball courts, shuffleboard, a grilling area, a community clubhouse, a private gated beach access, and over 375 feet of incredible beach access! Sugar Beach is one of the only pet friendly Gulf front rental destinations in the entire area. Years of market data shows that pet friendly options bring a higher nightly rate, have a better vacancy rate, and are more likely to attract "snowbirds" during the off season, so when it comes to rentals, you find yourself with a true competitive advantage. In addition to being pet friendly, Sugar Beach is a private/family friendly gated community with no elevators. The list of Gulf Front complexes where you can park directly at your door are few and far between, but Sugar Beach offers exactly that! One look at the numbers, one look at the condo, and one look at the location - and you will become a firm believer. This co
Full Property Details
Full Property Details for 8727 Thomas Dr #UNIT B1
General
- Sold For: $499,000
- Taxes: $3,219 (2022)
- Status: Closed
- Type: Condo /Townhouse
- MLS ID: 927481
- Added to Site: 306 day(s) ago
Interior
- Rooms/Areas: Bedroom, Dining Room, Kitchen, Living Room, Master Bedroom
- Interior Features: Floor Laminate, Floor Tile, Furnished - All, Newly Painted, Owner's Closet, Renovated, Window Treatment All
- Appliances: Dishwasher, Dryer, Microwave, Oven Self Cleaning, Refrigerator, Refrigerator W/IceMk, Washer
Rooms
Bathrooms
- Total Bathrooms: 3
- Full Bathrooms: 3
Bedrooms
- Total Bedrooms: 3
Other Rooms
- Living Room: Living Room
- Kitchen: Kitchen
- Dining Room: Dining Room
Additional Information
- Shared Amenities: BBQ Pit/Grill, Beach, Community Room, Dumpster, Game Room, Gated Community, Handball, Laundry, Pets Allowed, Pickle Ball, Picnic Area, Pool, Short Term Rental - Allowed, Tennis, TV Cable, Waterfront
- Pool: Yes
Exterior
- Exterior Features: Balcony, BBQ Pit/Grill, Fenced Lot-All, Patio Open, Pool - House, Pool - In-Ground, Renovated, Tennis Court
Location
- Area: 27 - Bay County
- County: Bay
- Subdivision: Sugar Beach Condominiums
- Driving Directions: Traveling East on Thomas Dr, turn right on Joan Avenue at the stoplight. The gated entrance to Sugar Beach will be immediately on the right. Enter the gate code at the key pad, pull in to the complex and turn right. Follow the perimeter around to the backside of the complex. Unit #B1 will be on the left - directly after the narrow section of the parking lot and office.
School Information
- Elementary School: Breakfast Point
- Middle School: Breakfast Point
- High School: Arnold
Heating & Cooling
- Heating/Cooling: AC - Central Elect, Ceiling Fans, Heat Cntrl Electric, Water Heater - Elect
Utilities
- Utility Description: Electric, Phone, Public Sewer, Public Water, TV Cable
Structural Information
- Construction: Block, Concrete, Roof Flat, Slab, Stucco
- Stories/Levels: 0
- Stories in Building: 3
- Square Feet: 1,512
- Sq. Ft. Source: Building Plan
- Year Built: 1974
Unit Information
- Units in Building: 117
Lot Features
- Property View: Gulf, Gulf/Pass, Lake, Pond
Water Features
- Water Front Type: Lake, Pond
Financial Considerations
- Assessment Amount: $2,179
- Assmt Payment Freq: Quarterly
- Tax Amount: $3,219
- Tax Year: 2022
- Terms: Conventional, FHA, VA
Disclosures and Reports
- Legal Description: SUGAR BEACH CONDO APT #B-1 3BR 2B 1512 H&C ORB 435 P 268 . ORB 4414 P 2189
- Assessment: Yes
- APN: 30189-019-000
Listed by Beachy Beach Real Estate
Sold by Keller Williams Success Realty
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Schools
Schools serving 8727 Thomas Dr #UNIT B1
School District:Bay District Schools
Rating | Name | Grades | Distance |
---|---|---|---|
601 N Richard Jackson Blvd, P C Beach, FL 32407 | PK-8 | 2.6 mi | |
550 N Alf Coleman Rd, P C Beach, FL 32407 | 9-12 | 2.9 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 8727 Thomas Dr #UNIT B1
Date
Details
Price
Change
Source
1/30/2024
Sold
$499,000
—
MLS
10/04/2023
Price Reduced
$499,000
-8.26%
MLS
10/03/2023
Price Reduced
$543,900
-0.91%
MLS
9/21/2023
Price Reduced
$548,900
-0.02%
MLS
7/12/2023
Listed
$549,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
8727 Thomas Drive #UNIT B1, Panama City Beach, FL 32408 (MLS# 927481) is a Condo / Townhouse property that was sold at $499,000 on January 30, 2024. Want to learn more about 8727 Thomas Drive #UNIT B1? Do you have questions about finding other Condo / Townhouse real estate for sale in Panama City Beach? You can browse all Panama City Beach real estate or contact a Coldwell Banker agent to request more information.