CURRENTLY UNDER CONTRACT, SELLER WILL CONSIDER BACKUP OFFERS.
THIS END UNIT CONDO IS A STEAL!....PRICED AT JUST $575,000....WELL BELOW MARKET VALUE.. AVAILABLE TO SHOW ANYTIME.......Welcome to Watercrest 501--your private Gulf-front sanctuary in the heart of Panama City Beach.
This beautifully renovated beachfront condominium offers breathtaking panoramic views of the emerald waters and sugar-white sands that have made the Emerald Coast famous.This spacious two-bedroom, two-bath condo has been totally renovated including new kitchen and baths. It has not been in a rental program, but is furnished and ready to go if that is what you would like and is an exceptional opportunity for both investors and those seeking their own beachfront escape.
The moment you step inside, your attention is drawn to the spectacular floor-to-ceiling Gulf views. The expansive living area flows seamlessly onto the oversized wraparound balcony, where you'll enjoy uninterrupted vistas of the Gulf of Mexico, refreshing sea breezes, and unforgettable sunsets. Whether you're sipping your morning coffee, dining al fresco, or relaxing with an evening cocktail, this outdoor living space is simply extraordinary.
A second private balcony provides additional outdoor enjoyment while overlooking the tennis courts, offering yet another peaceful retreat to enjoy Florida's beautiful weather.
Watercrest is consistently recognized as one of Panama City Beach's premier Gulf-front resorts, offering an impressive selection of amenities including:
Large beachfront swimming pool
Hot tub
Kiddie pool
Fitness center
Tennis courts
Direct access to the pristine beaches of the Gulf
Ideally located, Watercrest places you just minutes from exceptional restaurants, shopping, entertainment, golf, fishing, and many of Panama City Beach's most popular attractions.
Whether you're searching for a high-performing investment property, a luxurious second home, or your own permanent beachfront residence, Watercrest 501 delivers on every level. With extensive renovations, spectacular Gulf views, and a truly turnkey condition, this is a rare opportunity to own one of the area's finest beachfront condominiums.
Experience the beauty of Gulf-front living at Watercrest 501--where every sunrise inspires, every sunset captivates, and every day feels like a vacation.
Pending
Price cut: $100 (8/7)
$574,900
6201 Thomas Dr Unit 501, Panama City Beach, FL 32408
2beds
1,367sqft
Condominium
Built in 1987
-- sqft lot
$552,200 Zestimate®
$421/sqft
$1,075/mo HOA
What's special
Beautifully renovated beachfront condominiumTennis courtsHot tubSpacious two-bedroom two-bath condoSpectacular floor-to-ceiling gulf viewsLarge beachfront swimming poolRefreshing sea breezes
- 34 days
- 136
- 4
Zillow last checked:
Listing updated:
Listed by:
Daniel Peak 850-890-8884,
Realty Mark Associates
Source: CPAR,MLS#: 793252
Originating MLS: Central Panhandle Association of REALTORS
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 2
- Full bathrooms: 2
Rooms
- Room types: Kitchen, Living Room, Primary Bedroom
Primary bedroom
- Level: First
- Dimensions: 13 x 16
Kitchen
- Level: First
- Dimensions: 11 x 10
Living room
- Level: First
- Dimensions: 24 x 15
Heating
- Central
Cooling
- Central Air, Ceiling Fan(s)
Appliances
- Included: Electric Cooktop, Electric Oven, Electric Range, Electric Water Heater, Ice Maker
Features
- Main Level Primary
Interior area
- Total structure area: 1,367
- Total interior livable area: 1,367 sqft
Property
Parking
- Parking features: Paved, Parking Lot
Features
- Patio & porch: Balcony
- Pool features: In Ground, Community
- Has view: Yes
- View description: Gulf
- Has water view: Yes
- Water view: Gulf
- Waterfront features: Gulf, Shoreline - Sand, Shoreline - Natural
Details
- Parcel number: 30585241000
- Zoning description: Resid Multi-Family
- Special conditions: Listed As-Is
Construction
Type & style
- Home type: Condo
- Architectural style: High Rise
- Property subtype: Condominium
- Attached to another structure: Yes
Materials
- Concrete, Stucco
- Foundation: Pillar/Post/Pier
Condition
- New construction: No
- Year built: 1987
Utilities & green energy
- Sewer: Public Sewer
- Utilities for property: Cable Connected, Electricity Available, High Speed Internet Available, Phone Connected
Community & HOA
Community
- Features: Barbecue, Beach, Elevator, Fitness Center, Game Room, Park, Pool, Tennis Court(s), Waterfront, Community Pool, Short Term Rental Allowed
- Security: Building Security, Fire Escape, Fire Sprinkler System, Security Lights, Fire Alarm, Smoke Detector(s)
- Subdivision: Watercrest Condo
HOA
- Has HOA: Yes
- Amenities included: Beach Rights, Barbecue
- Services included: Association Management, Clubhouse, Cable TV, Fitness Facility, Insurance, Internet, Legal/Accounting, Pest Control, Pool(s), Sewer, Security, Trash, Water
- HOA fee: $3,224 quarterly
Location
- Region: Panama City Beach
Financial & listing details
- Price per square foot: $421/sqft
- Tax assessed value: $581,749
- Annual tax amount: $5,135
- Date on market: 7/28/2026
- Cumulative days on market: 32 days
- Electric utility on property: Yes
Estimated market value
$552,200
$525,000 - $580,000
$2,477/mo
Price history
| Date | Event | Price |
|---|---|---|
| 8/17/2026 | Pending sale | $574,900$421/sqft |
Source: | ||
| 8/7/2026 | Price change | $574,9000%$421/sqft |
Source: | ||
| 7/28/2026 | Listed for sale | $575,000+194.9%$421/sqft |
Source: | ||
| 8/29/2013 | Sold | $195,000-6.7%$143/sqft |
Source: | ||
| 8/12/2013 | Price change | $208,900-1.9%$153/sqft |
Source: Top Producers Real Estate Center #608485 Report a problem | ||
| 4/22/2013 | Listed for sale | $213,000-7%$156/sqft |
Source: Top Producers Real Estate Center #608485 Report a problem | ||
| 2/24/2012 | Listing removed | $229,000$168/sqft |
Source: Top Producers Real Estate Center #370885 Report a problem | ||
| 7/12/2011 | Price change | $229,000-7.7%$168/sqft |
Source: Top Producers Real Estate Center #370885 Report a problem | ||
| 5/21/2011 | Listed for sale | $248,000$181/sqft |
Source: Top Producers Real Estate Center #370885 Report a problem | ||
| 3/16/2011 | Listing removed | $248,000$181/sqft |
Source: Listhub #370885 Report a problem | ||
| 3/13/2011 | Listed for sale | $248,000-14.5%$181/sqft |
Source: Listhub #370885 Report a problem | ||
| 3/20/2003 | Sold | $289,900$212/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $5,135 +13.2% | $287,388 +10% |
| 2023 | $4,536 +23.4% | $261,262 +10% |
| 2022 | $3,676 | $237,511 |
| 2021 | -- | -- |
| 2020 | $3,012 +16.1% | $222,072 +7.1% |
| 2019 | $2,595 | $207,357 -4% |
| 2018 | $2,595 -11% | $215,919 +10% |
| 2017 | $2,914 +5.5% | $196,290 +10% |
| 2016 | $2,762 +22% | $178,445 +10% |
| 2015 | $2,264 | $162,223 +10% |
| 2014 | $2,264 | $147,475 |
| 2013 | -- | $147,475 +8.4% |
| 2012 | -- | $136,000 -20% |
| 2011 | -- | $170,000 |
| 2010 | -- | $170,000 -20.8% |
| 2009 | -- | $214,619 -24.4% |
| 2008 | -- | $283,978 -17% |
| 2007 | -- | $341,941 -18% |
| 2006 | -- | $417,001 |
| 2005 | -- | $417,001 +81.3% |
| 2004 | -- | $230,001 |
| 2003 | -- | $230,001 +25.8% |
| 2002 | -- | $182,875 |
| 2001 | -- | $182,875 |
| 2000 | -- | $182,875 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: Lower Grand Lagoon
Nearby schools
Schools provided by the listing agent
- Elementary: Patronis
- Middle: Surfside
- High: Arnold
Source: CPAR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.







