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Sold for $375,000
  • $375,000

    8727 Thomas Dr Unit C6, Panama City Beach, FL 32408

    2beds
    1,086sqft
    Condominium
    Built in 1974
    -- sqft lot
    $328,200 Zestimate®
    $345/sqft
    $2,093 Estimated rent

    Home value

    $328,200

    $302,000 - $354,000

    $2,093/mo

    Zestimate® history
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    What's special

    Sugar beachGulf front complexesIncredible viewExpansive courtyardHuge clubhouseComplex amenitiesThrill rides
    The Investor's Trifecta!!! LOWEST OVERALL PRICE, LOWEST Sq/Ft PRICE, and LOWEST HOA's of all the 2 Bedroom / 2 Bathroom condos located on the beach! This is one of only 2 condos in town that can claim to offer all 3! If a 12% ROI potential doesn't get your attention, maybe a $25k annual appreciation will. That's right... over the past 21 years, 2 bedroom / 2 bath condos in PCB have averaged a 6.4% annual gain in value due to appreciation! Lets look at the facts... Maximizing rental income starts with one basic concept - maximizing ''Heads in Beds.'' And when it comes to ensuring incredible occupancy rates, this unit offers all the key amenities renters look for when booking their vacation: View, Location, Complex Amenities, and Price. VIEW: Most people come to PCB for the breathtaking Gulf views, and this condo does not disappoint. What they don't expect is to also have an incredible view over an expansive courtyard that is so well manicured, including a beautiful Koi/Turtle pond. Sugar Beach is the only place on the beach with views like this, and they are truly unforgettable... LOCATION: After watching some of the world's most awe-inspiring sunsets, simply head out your front door and experience the legendary action of Thomas Drive. If you don't want to drive to dinner, rest assured knowing that your vehicle is safely parked right outside - and there is no need to drive anywhere to enjoy the best that PCB has to offer. Located on the coveted East end of the beach (considerably less traffic), there are go cart tracks, video arcades, mini golf courses, thrill rides, ice cream shops, a winery, souvenir shops, etc. - directly in front of the property. For the adults, there are numerous bars/restaurants, and countless options for live music, 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!!! And did I mention that Tootsies is looking to open it's very first beach bar just 2 doors down?!? Yep... talk about KILLER location!!! AMMENITIES: Success in business is all about Competitive Advantage, and Sugar Beach offers something that differentiates itself from everyone else in PCB... It 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 you have true competitive advantage with this one. 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! It also offers a private gated beach access, a pool, huge clubhouse with games, tennis/pickleball courts, shuffleboard, a grilling area, over 375 feet of incredible beach access, and expansive greenspace unique from every other Gulf Front property in PCB! PRICE: Last but not CERTAILY not least, renters pick their vacation condo based on price. With a low selling price, low utility costs, and some of the lowest HOA's of all the competition, you have less overhead which ensures that you can charge less per night (as compared to the competition), bringing in strong rentals and generating an incredible profit! The average 2 bedroom in Sugar Beach brings in over $50k annually in rentals, and some of the well-established ones bring in over $70k. At the high end your annual ROI would be well over 12% on a financed purchase - which is unheard of nowadays. It isn't often that someone loves a condo so much that they keep it in their family over 10 years, but one step into the paradise that is Sugar Beach, and you will immediately understand why this condo has been cherished by the same family for so long! Welcome Home!

    Zillow last checked:

    Listing updated:

    Listed by:

    Garrett S Aune 850-588-8908,

    Beachy Beach Real Estate

    Bought with:

    Tyler S Smith, SL3492940

    Beach Haven Realty

    Source: CPAR,MLS#: 747872MLS LogoOriginating MLS: Central Panhandle Association of REALTORS

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 2
    • Bathrooms: 2
    • Full bathrooms: 2
    Rooms
    • Room types: Bedroom, Full Bath, Kitchen, Living Room, Primary Bathroom, Primary Bedroom, Patio
    Primary bedroom
    • Level: First
    • Dimensions: 15 x 14
    Bedroom
    • Level: First
    • Dimensions: 13 x 12
    Primary bathroom
    • Level: First
    • Dimensions: 8 x 6
    Other
    • Level: First
    • Dimensions: 8 x 6
    Kitchen
    • Level: First
    • Dimensions: 9 x 8
    Living room
    • Description: Living / Dining Combo
    • Level: First
    • Dimensions: 21 x 13
    Patio
    • Level: First
    • Dimensions: 15 x 8
    Heating
    • Central, ENERGY STAR Qualified Equipment
    Cooling
    • Central Air, ENERGY STAR Qualified Equipment
    Appliances
    • Included: Washer/Dryer Stacked, Electric Oven
    • Laundry: Washer Hookup, Dryer Hookup, Stacked
    Interior area
    • Total structure area: 1,086
    • Total interior livable area: 1,086 sqft

    Property

    Parking
    • Parking features: Additional Parking, Parking Lot
    Features
    • Levels: Three Or More
    • Stories: 3
    • Patio & porch: Balcony, Patio, Open, Porch
    • Exterior features: Barbecue, Patio
    • Pool features: Fenced, In Ground, Community, Pool
    • Fencing: Full,Fenced
    • Has view: Yes
    • View description: Gulf, Pond
    • Has water view: Yes
    • Water view: Gulf,Pond
    • Waterfront features: Shoreline - Sand
    • Frontage length: 375' Private Access
    Lot
    • Features: Paved
    Details
    • Additional structures: Pool House, Tennis Court(s)
    • Parcel number: 30189042000
    • Zoning description: Resid Multi-Family, Resid Single Family
    • Special conditions: Listed As-Is

    Construction

    Type & style
    • Home type: Condo
    • Architectural style: Low Rise
    • Property subtype: Condominium
    Materials
    • Concrete
    • Roof: Flat
    Condition
    • Year built: 1974

    Utilities & green energy

    • Utilities for property: High Speed Internet Available, Phone Connected, Water Connected

    Community & HOA

    Community
    • Features: Beach, Clubhouse, Laundry Facilities, Pool, Tennis Court(s), Waterfront, Barbecue, Gated, Home Owners Association, Short Term Rental Allowed
    • Security: Security Gate, Gated Community, 24 Hour Security, Security Lights, Smoke Detector(s), Security Service
    • Subdivision: Sugar Beach Condo
    HOA
    • Has HOA: Yes
    • Amenities included: Other, See Remarks, Beach Rights, Gated
    Location
    • Region: Panama City Beach

    Financial & listing details

    • Price per square foot: $345/sqft
    • Tax assessed value: $327,525
    • Annual tax amount: $2,515
    • Date on market: 10/13/2023
    • Cumulative days on market: 95 days

    Price history

    DateEventPrice
    1/29/2024Sold$375,000-6%$345/sqft
    Source: CPAR #747872 Report a problem
    1/16/2024Pending sale$399,000$367/sqft
    Source: ECAOR #935608 Report a problem
    1/16/2024Contingent$399,000$367/sqft
    Source: CPAR #747872 Report a problem
    10/13/2023Listed for sale$399,000+232.5%$367/sqft
    Source: CPAR #747872 Report a problem
    3/25/2010Sold$120,000$110/sqft
    Source: Public Record Report a problem

    Public tax history

    YearProperty taxesTax assessment
    2024$3,644 +5.6%$223,617 +10%
    2023$3,450 +37.2%$203,288 +10%
    2022$2,515 $184,807
    2021-- --
    2020$2,049 +18.8%$152,733 +13.7%
    2019$1,724 $134,385 -3.2%
    2018$1,724 -9.1%$138,848 +10%
    2017$1,898 +28.2%$126,225 +10%
    2016$1,481 +14.5%$114,750 +7.4%
    2015$1,294 $106,800 +9.3%
    2014$1,294 $97,750
    2013-- $97,750 -4.2%
    2012-- $102,000
    2011-- $102,000 -28.4%
    2010-- $142,494 -10%
    2009-- $158,327 -21.5%
    2008-- $201,691 -10%
    2007-- $224,101 -10%
    2006-- $249,001
    2005-- $249,001 +130.6%
    2004-- $108,001
    2003-- $108,001
    2002-- $108,001 +66.7%
    2001-- $64,780
    2000-- $64,780
    Find assessor info on the county website

    Neighborhood: 32408

    Nearby schools

    GreatSchools rating
    Schools provided by the listing agent
    • Elementary: Breakfast Point
    • Middle: Breakfast Point
    • High: Arnold

    Source: CPAR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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