8727 Thomas Drive Unit C40, Panama City Beach

$299,000

2 Beds
2 Baths
1,086 Sqft
0 Acre
0 Garage

INVESTOR'S DREAM!!! 7%+ Annual ROI based on ACTUAL average complex rentals, UNBELIEVABLE 15% ROI on the high end of rentals!

This is now the LOWEST PRICED low rise 2 bedroom condo on the entire beach - meaning someone is fixing to get a steal of a deal!!!

New furniture in both bedrooms, newly updated bathroom vanities and toilets, and new hurricane sliding doors and windows.

Seller has owned the unit 30 years and has very seldom rented it - meaning it has been INCREDIBLY well cared for compared to the full time rentals. One of the only pet friendly complexes on the entire beach (meaning extreme competitive advantage on rentals), no elevators, no streets to cross, private 375 feet of white sandy beach access, and the absolute BEST location in town (just a few seconds to the highly anticipated new Tootsies Beach Bar, restaurants, go karts, mini golf, dining, and the best bars in town).

New LVP flooring throughout has been quoted at $5k, new couch and love seat at $1,500, new appliances at $1,700, and a little paint - and this place will be COMPLETELY TRANSFORMED and ready to kill it on rentals. The needed updates have been factored into the price, and this one will be grabbed up quick with the new reduction!

The next door neighbor (same views/floorplan) does over $60k a year on her unit, so needless to say, the potential at this price is UNLIMITED!!!

Don't be that person that says ''I wish I would have...'' a few years from now. Grab this one now at an unbelievable price, make it your own for less than $9k, and enjoy the incredible income for years to come!!!

Essential Information
MLS® #995062
Price$299,000
Sold Price$265,000
Date Sold$2026-05-29
Bedrooms2
Bathrooms2.00
Full Baths2
Square Footage1,086
Year Built1974
TypeResidential
Sub-TypeCondominium
StyleN/A
StatusSold
Community Information
Address8727 Thomas Drive Unit C40
Area27 - Bay County
SubdivisionSUGAR BEACH T/H
CityPanama City Beach
CountyBay
StateFL
Zip Code32408
Amenities
ViewGulf/Pass, Pond
Is WaterfrontYes
WaterfrontPond
Has PoolYes
PoolIn Ground
Utilities

Electric, Public Sewer, Public Water, TV Cable

Interior
HeatingCentral
CoolingCentral Air, Ceiling Fan(s)
Interior Features

Owner's Closet, Split Bedroom, Washer/Dryer Hookup

Appliances

Dishwasher, Dryer, Microwave, Refrigerator, Washer, Electric Water Heater

Exterior
WindowsWindow Treatments
RoofMembrane
ConstructionStucco
FoundationSlab
Exterior Features

Outdoor Grill, Balcony, Tennis Court(s)

School Information
ElementaryBreakfast Point
MiddleBreakfast Point
HighArnold
Additional Information
Days on Website246
Listing Details
OfficeBeachy Beach Real Estate
Property History
Price Reduced from $306,000 to $299,000
Price Reduced from $314,000 to $306,000
Price Reduced from $317,375 to $314,000
Price Reduced from $320,750 to $317,375
Price Reduced from $324,125 to $320,750
Show All History (6)
LISTING MAP

Get directions to this property:

Properties for Sale Similar to 8727 Thomas Drive Unit C40, Panama City Beach, FL

Photo of Listing #1006487

6909 N Lagoon Drive Unit E2, Panama City Beach

$339,900 - 2 Beds, 2 Baths, 1,000 Sf

MLS® # 1006487

Photo of Listing #1004475

5717 Thomas Drive # C140, Panama City Beach

$299,000 - 1 Bed, 2 Baths, 720 Sf

MLS® # 1004475

Photo of Listing #1011144

8743 Thomas Drive Unit 931, Panama City Beach

$285,000 - 1 Bed, 2 Baths, 740 Sf

MLS® # 1011144

DISCLAIMER: Information Deemed Reliable but not guaranteed. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
All listings are provided courtesy of the Emerald Coast Association of Realtors, Copyright2026, All rights reserved.

Listing information last updated on October 15th, 2026 at 7:22am CDT.