Welcome to one of the most compelling investment opportunities on Panama City Beach. Positioned directly beside the all-new Tootsie's Orchid Lounge--now occupying the legendary former Spinnaker Beach Club--The Summit is poised to benefit from one of the area's biggest new entertainment destinations. This high-profile addition is expected to drive increased visitor traffic, extend guest stays, and strengthen rental demand, making an already proven income-producing resort even more attractive to investors.
The Summit has long been recognized as one of Panama City Beach's premier short-term rental destinations, with decades of strong rental performance. Its unbeatable Gulf-front location, extensive resort amenities, and walkable access to restaurants, nightlife, attractions, and family entertainment continue to deliver exceptional appeal for both owners and vacationers.
This fully furnished, rental-ready condo offers unobstructed Gulf views from its private balcony and features several valuable updates, including an upgraded tile walk-in shower, new windows, a new sliding glass door, new balcony railings, and an in-unit washer and dryer. The thoughtfully designed floor plan includes a king bedroom, hallway bunk beds, and a convenient half bath.
Guests enjoy an unmatched resort experience featuring two Gulf-front swimming pools (one seasonally heated), children's pools, indoor and outdoor hot tubs, saunas, a fitness center, tennis and pickleball courts, shuffleboard, a poolside tiki bar, on-site dining at Bikini Bob's, barbecue and picnic areas, gated 24-hour security, and private beach access. Across the street are amusement attractions, restaurants, shopping, and entertainment, creating the convenience today's vacation renters actively seek.
Whether you're expanding your investment portfolio or purchasing your first beachfront income property, The Summit continues to prove why it remains one of Panama City Beach's most dependable cash-flowing condominium communities. With the arrival of Tootsie's adding a powerful new demand driver next door and this unit's recent upgrades already in place, the future potential has never looked stronger.
All information is deemed reliable but should be independently verified by buyers if important.
For sale
Price cut: $10K (8/13)
$280,000
8743 Thomas Dr Unit 1202, Panama City Beach, FL 32408
1beds
740sqft
Condominium
Built in 1984
-- sqft lot
$263,700 Zestimate®
$378/sqft
$748/mo HOA
What's special
Private beach accessKing bedroomHallway bunk bedsIn-unit washer and dryerPoolside tiki barNew balcony railingsBarbecue and picnic areas
- 60 days
- 270
- 17
Zillow last checked:
Listing updated:
Listed by:
Matt W Wright 850-227-8276,
Think Real Estate
Source: CPAR,MLS#: 791979
Originating MLS: Central Panhandle Association of REALTORS
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 1
- Bathrooms: 2
- Full bathrooms: 1
- 1/2 bathrooms: 1
Rooms
- Room types: Bedroom
Bedroom
- Level: First
- Dimensions: 15 x 11
Cooling
- Central Air
Appliances
- Included: Washer/Dryer Stacked, Electric Range, Electric Water Heater
- Laundry: Stacked
Interior area
- Total structure area: 740
- Total interior livable area: 740 sqft
Property
Parking
- Parking features: Parking Lot
Features
- Patio & porch: Balcony
- Pool features: Community
- Spa features: Community
- Has view: Yes
- View description: Gulf
- Has water view: Yes
- Water view: Gulf
- Waterfront features: Gulf
Details
- Parcel number: 30236340000
Construction
Type & style
- Home type: Condo
- Architectural style: High Rise
- Property subtype: Condominium
- Attached to another structure: Yes
Condition
- New construction: No
- Year built: 1984
Utilities & green energy
- Sewer: Public Sewer
- Utilities for property: High Speed Internet Available
Community & HOA
Community
- Features: Barbecue, Basketball Court, Beach, Business Center, Clubhouse, Elevator, Fitness Center, Laundry Facilities, Pool, Sauna, Tennis Court(s), Waterfront, Community Pool, Gated, Short Term Rental Allowed
- Security: Building Security, Gated with Guard, Gated Community, 24 Hour Security, Security Service
- Subdivision: The Summit
HOA
- Has HOA: Yes
- Amenities included: Business Center, Gated, Barbecue, Picnic Area
- Services included: Clubhouse, Cable TV, Fitness Facility, Insurance, Internet, Maintenance Grounds, Pest Control, Pool(s), Sewer, Security, Trash, Water
- HOA fee: $2,245 quarterly
Location
- Region: Panama City Beach
Financial & listing details
- Price per square foot: $378/sqft
- Tax assessed value: $307,700
- Annual tax amount: $3,429
- Date on market: 6/29/2026
- Cumulative days on market: 61 days
Estimated market value
$263,700
$251,000 - $277,000
$1,634/mo
Price history
| Date | Event | Price |
|---|---|---|
| 8/13/2026 | Price change | $280,000-3.4%$378/sqft |
Source: | ||
| 6/29/2026 | Listed for sale | $290,000+480%$392/sqft |
Source: | ||
| 12/1/1985 | Sold | $50,000$68/sqft |
Source: Agent Provided Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $3,429 +7.3% | $214,924 +10% |
| 2023 | $3,195 +22.3% | $195,385 +10% |
| 2022 | $2,613 | $177,623 |
| 2021 | -- | -- |
| 2020 | $1,980 +11.7% | $146,795 +3.9% |
| 2019 | $1,772 | $141,312 +5.9% |
| 2018 | $1,772 +3.6% | $133,450 +3% |
| 2017 | $1,710 +14% | $129,625 +7.1% |
| 2016 | $1,500 +6.7% | $121,055 +10% |
| 2015 | $1,406 | $110,050 +10% |
| 2014 | $1,406 | $100,045 +10% |
| 2013 | -- | $90,950 +1.4% |
| 2012 | -- | $89,675 -9% |
| 2011 | -- | $98,558 -17.2% |
| 2010 | -- | $119,000 -7.9% |
| 2009 | -- | $129,200 -20% |
| 2008 | -- | $161,500 -12.4% |
| 2007 | -- | $184,450 -24.7% |
| 2006 | -- | $245,001 |
| 2005 | -- | $245,001 +75% |
| 2004 | -- | $140,001 +31.7% |
| 2003 | -- | $106,301 |
| 2002 | -- | $106,301 +33.5% |
| 2001 | -- | $79,600 |
| 2000 | -- | $79,600 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: 32408
Nearby schools
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.






