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$1,500,000

  • For Sale
  • Active
  • Commercial Land
  • 0.51 Acres
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This is your chance to secure a rare development opportunity along the highly sought-after Thomas Drive business corridor. An exceptional .51-acre site (three combined lots: 100' x 220') with frontage on Thomas Drive, Beach Drive, and Biltmore Drive. This unique configuration provides access from three road fronts, offering excellent visibility and accessibility for future development. "¢ Zoned C-1 (Neighborhood Commercial) - allows for a wide range of commercial, mixed-use, and multifamily opportunities "¢ Density: Up to 15 units per acre "¢ Not in a flood zone, yet just 500 feet from the Gulf of Mexico "¢ Gulf views possible from a multi-story structure "¢ Surrounded by new homes, high-rise condos, restaurants, close to public beach access (#9), and major attractions "¢ Ideal for commercial retail, short-term rentals, townhomes, or a mixed-use development A three-story building on this site would capture breathtaking Gulf views, making it perfect for a boutique hotel, retail center, or luxury residential units. Buyer should verify all details related to this property. Property includes 3 parcels- 32362-000-000; 31857-000-000; 31856-000-000

Full Property Details for 5518 Thomas Dr

General

  • Price: $1,500,000
  • Status: Active
  • Type: Commercial Land
  • Source: Bay_County
  • MLS ID: 781168
  • Updated: 12/2/2025
  • Added to Site: 76 day(s) ago

Location

  • County: Bay
  • Subdivision: Gulf Lagoon Beach
  • Driving Directions: South on Navy Blvd.. Drive for 4.2 miles. Property is on right, northwest corner of Thomas Drive & Biltmore Drive.

Community

  • Community Name: 03 - Bay County - Beach

Utilities

  • Utility Description: Sewer Available

Lot Features

  • Property View: Gulf
  • Lot Size (Acres): 0.51
  • Lot Size (Sq. Ft.): 22,000
  • Lot Size: .51
  • Frontage: County Road, Paved
  • Zoning: General Commercial

Water Features

  • Water Front: Yes
  • Water View: Yes

Disclosures and Reports

  • Special Conditions: Listed As-Is
  • Legal Description: GULF LAGOON BEACH LOTS 1 & 2 BLK 16 ORB 4617 P 1904; BILTMORE BEACH LOT 2 BLK K ORB 4727 P 77; BILTMORE BEACH LOT 1 BLK K ORB 4727 P 77
  • Property ID: 32362-000-000

Listed by Local Insight Realty

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Listing agents

— 5518 Thomas Dr —

  • Local Insight Realty

  • Local Insight Realty

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 5518 Thomas Dr

School District:Bay County School District
NameGradesDistance
Patronis Elementary School
7400 Patronis Dr, Panama City Beach, FL 32408
K-51.8 mi
Surfside Middle School
300 Nautilus Street, Panama City Beach, FL 32413
6-87.1 mi
J.R. Arnold High School
550 North Alf Coleman Road, Panama City Beach, FL 32407
9-125.5 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 5518 Thomas Dr Get Price Alerts and Save Property

Date
Details
Price
Change
Source
11/03/2025
Listed
$1,500,000
81.82%
MLS
10/04/2022
Sold
$825,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 5518 Thomas Dr

Year
Property Taxes
Change
Tax Assessment
Change
2024
$3,682
-2%
$299,597
—
2023
$3,746
129%
$299,597
95%
2021
$1,635
-37%
$154,001
-49%
2022
$2,611
60%
$299,597
143%
2021
$1,635
26%
$123,421
25%
2019
$1,297
15%
$98,737
10%
2018
$1,124
-1%
$89,761
—
2017
$1,131
2%
$89,761
4%
2016
$1,108
-1%
$86,351
2%
2015
$1,115
-5%
$84,480
-6%
2014
$1,179
-3%
$89,481
-14%
2013
$1,215
—
$104,001
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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NMLS#: 1598647

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Listed by Local Insight Realty

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5518 Thomas Drive, Panama City, FL 32408 (MLS# 781168) is a Commercial Land property with a lot size of 0.51 acres. 5518 Thomas Drive is currently listed for $1,500,000 and was received on November 03, 2025. Want to learn more about 5518 Thomas Drive? Do you have questions about finding other Commercial Land real estate for sale in Panama City? You can browse all Panama City real estate or contact a Coldwell Banker agent to request more information.

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