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$1,400,000
● Land - For Sale

5518 Thomas Drive

Panama City Beach, FL 32408
bedrooms
Studio
bathrooms
0 Bath
$6,875
Est. Monthly

About This Property

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
Unit Size
-
Days on Market
371 days
Land Size
0.51 acres
Price per sqft
-
Property Type
Land
Property Taxes
-
HOA Dues
-
Year Built
1987

Listed By

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Last updated: 4 months ago ( #781168)

Price History

Date / Event Date Event Price
Oct 30, 2025 Listed by Local Insight Realty $1,400,000
Listed by Local Insight Realty
Oct 5, 2022 Sold
Sold

Property Highlights

Exterior Details
Lot Size Area: 0.51
Lot Size Units: Acres
Lot Size Acres: 0.51
Lot Size Square Feet: 22000

Building Info

Overview

    General

  • Year Built: 1987
  • Building Count: 1
  • Total Rooms: 10
  • Bedroom Count: 0
  • Bathroom Count: 7
  • Partial Bathrooms: 7
  • Bathroom Plumbing Fixtures: 20
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 12
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 15
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 12,100
  • Lot Size Depth Feet: 1,100
  • Lot Size Frontage Feet: 1,000
  • Total Building Area: 7,280
  • Building Area: 7,280

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 4
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: V
  • Subdivision: GULF LAGOON BEACH
  • Land Acres: 0000000278
  • Standard Land Use Code: 8002
  • County Land Use Code: 001070
  • State Land Use Code: 10
  • Legal Description 1: GULF LAGOON BEACH LOTS 1 & 2 BLK 16 ORB 4617 P 1904

Neighborhood

  • School District Name: Bay County School District
  • Census Tract: 002606

Zoning

  • Zoning: BC03

Geography

  • Parcel: 32362-000-000
  • Block: 16
  • Lot: 1,2
  • Meridian: SEC 16 TWN 04S RNG 15W
  • Municipality: FIRE BEACH MOSQUITO
  • Latitude: 30.1453
  • Longitude: -85.7573

    Address

  • Full Address: 5518 Thomas Dr
  • Address - House Number: 5518
  • Address - Street Name: Thomas
  • Address - Suffix Type: Dr
  • State: FL
  • City Name: Panama City
  • Carrier Code: C009
  • 4-Digit Zip Code: 6731
  • Zip Code: 32408

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $374,574
  • Initial Tax Delinquent Year: 2022
  • Tax Rate Code Area: 056

    Market Valuation

  • Market Total Value: $299,597
  • Market Land Value: $299,596
  • Market Improvement Value: $1

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $299,597
  • Assessed Land Value: $299,596
  • Assessed Improvements Value: $1

    Sales

  • Current Sale Contract Date: Oct 04, 2022
  • Current Sale Recording Date: Oct 05, 2022
  • Current Sale Price:
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 73392
Data used for valuation calculations is provided by RealtyHop, and other third party sources

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

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Frequently Asked Questions

When was property at 5518 Thomas Drive built and last sold?
The property at 5518 Thomas Drive was built in 1987 and last sold on Oct 4, 2022 for $825,000.
How much is this home worth?
The estimated value of the home located at 5518 Thomas Drive is $1,414,000.
What are some comparable homes to 5518 Thomas Drive?
There are currently no comparable homes to 5518 Thomas Drive.