$56,765 in revenue July '25 to June '26: a 16.3% ROI on the asking price! One of the strongest-earning 1-bedrooms at The Summit, this fully renovated, direct-beachfront 1BR/2BA pairs strong income with a feature that is almost impossible to find on the sand: a low, 2nd-floor location. There are no elevator waits - guests simply take the stairs and they are on the beach in seconds. The Gulf and the resort pools sit at near-eye level from the private beachfront balcony, and it is the single most praised detail across years of five-star reviews.
It is also exactly why 209 out-earns Summit units on the floors above it. Beautifully updated throughout, the condo features wood-look plank flooring, a granite kitchen with glass-tile backsplash, stainless appliances and a dishwasher, refreshed bathrooms, and a smart Nest thermostat. A king bedroom, a queen sleeper sofa, a built-in twin-over-twin bunk nook the kids love, and two comfortable recliners let it sleep five. An in-unit washer and dryer plus new sliding glass doors complete a true turnkey package.
The timing could not be better: the new Tootsie's just opened next door in the legendary former Spinnaker Beach Club and it is already packed, pulling fresh nightlife and foot traffic straight to the resort. The Summit offers two Gulf-front pools (one seasonally heated) and two children's pools, two outdoor and one indoor hot tub, his-and-hers saunas, a fitness center, tennis and pickleball, shuffleboard, a poolside tiki bar, the on-site Bar & Grill, and gated 24-hour security with direct private beach access. With established Airbnb and VRBO listings and a loyal base of repeat guests, this condo has a proven track record of success, and about 17% of its revenue already comes from direct and repeat bookings, well above the Panama City Beach market average. As an added bonus, the seller's revenue consultant will personally assist the buyer in expanding the property's direct-booking strategy through modern AI, automation, and data-driven revenue management techniques.
The income is the headline, and the rare 2nd floor is the edge no higher unit can match. Full rent roll available to qualified buyers.
For sale
Price cut: $10K (8/8)
$339,900
8743 Thomas Dr Unit 209, Panama City Beach, FL 32408
1beds
740sqft
Condominium
Built in 1984
-- sqft lot
$325,900 Zestimate®
$459/sqft
$748/mo HOA
What's special
Fully renovatedDirect private beach accessBeautifully updated throughoutGranite kitchenKing bedroomHis-and-hers saunasIn-unit washer and dryer
- 68 days
- 106
- 7
Zillow last checked:
Listing updated:
Listed by:
Gleb Alikhver 404-933-7966,
Alikhver Realty
Source: CPAR,MLS#: 791704
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
- Description: Condo
- Level: Second
- Dimensions: 0 x 0
Interior area
- Total structure area: 740
- Total interior livable area: 740 sqft
Property
Features
- Stories: 15
- Pool features: Community
- On waterfront: Yes
- Waterfront features: Gulf
Details
- Parcel number: 30236027000
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
- Utilities for property: Cable Connected
Community & HOA
Community
- Features: Community Pool, Short Term Rental Allowed
- Subdivision: The Summit
HOA
- Has HOA: Yes
- Amenities included: Business Center, Game Room, Sauna, Spa/Hot Tub
- Services included: Fitness Facility, Internet, Pool(s), Tennis Courts, Trash
- HOA fee: $2,245 quarterly
Location
- Region: Panama City Beach
Financial & listing details
- Price per square foot: $459/sqft
- Tax assessed value: $307,700
- Annual tax amount: $3,948
- Date on market: 6/22/2026
- Cumulative days on market: 69 days
Estimated market value
$325,900
$310,000 - $342,000
$1,634/mo
Price history
| Date | Event | Price |
|---|---|---|
| 8/8/2026 | Price change | $339,900-2.9%$459/sqft |
Source: | ||
| 6/26/2026 | Price change | $349,900+0.3%$473/sqft |
Source: | ||
| 6/22/2026 | Listed for sale | $349,000$472/sqft |
Source: | ||
| 12/13/2025 | Listing removed | $349,000$472/sqft |
Source: | ||
| 11/14/2025 | Listed for sale | $349,000-12.5%$472/sqft |
Source: | ||
| 5/6/2023 | Listing removed | -- |
Source: | ||
| 4/28/2023 | Listed for sale | $399,000+37.6%$539/sqft |
Source: | ||
| 2/11/2022 | Sold | $290,000-5.7%$392/sqft |
Source: | ||
| 1/4/2022 | Pending sale | $307,500$416/sqft |
Source: | ||
| 11/28/2021 | Listed for sale | $307,500+86.9%$416/sqft |
Source: | ||
| 10/9/2015 | Listing removed | $164,500$222/sqft |
Source: Jim Free Realty LLC #622349 Report a problem | ||
| 7/20/2014 | Listed for sale | $164,500$222/sqft |
Source: Jim Free Realty #622349 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $3,948 +6.3% | $307,700 +7.1% |
| 2023 | $3,712 +26.5% | $287,215 +16.5% |
| 2022 | $2,935 | $246,500 |
| 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.






