Beach - South of Grand Lagoon Homes under $1.25 million

Beach - South of Grand Lagoon Homes under $1.25 million

Welcome to the enchanting Beach - South of Grand Lagoon neighborhood in Bay County, Florida, where coastal charm meets vibrant community living. Nestled along the stunning shores of the Gulf of Mexico, this area is a true gem for those seeking a slice of paradise without breaking the bank. With a diverse selection of homes priced under $1.25 million, this neighborhood offers a perfect blend of affordability and luxury.

The Beach - South of Grand Lagoon is characterized by its picturesque landscapes, featuring soft sandy beaches, swaying palm trees, and breathtaking sunsets that paint the sky in hues of orange and pink. Residents enjoy year-round access to a variety of outdoor activities, from sunbathing and swimming to kayaking and fishing in the serene waters of the lagoon. The nearby parks and nature trails invite you to explore the natural beauty of the area, making it an ideal spot for families and nature enthusiasts alike.

This vibrant community boasts an array of dining, shopping, and entertainment options, ensuring that you’ll never run out of things to do. Local favorites include fresh seafood restaurants and charming boutiques, all within a short stroll or bike ride from your doorstep. The welcoming atmosphere and friendly neighbors create a sense of belonging that makes living here truly special.

Whether you’re looking for a cozy beach cottage or a modern family home, the Beach - South of Grand Lagoon offers a variety of real estate options that cater to every lifestyle. Come discover your dream home in this idyllic neighborhood, where coastal living meets community spirit!

Newest Beach - South of Grand Lagoon Homes under $1.25 million

9860 S Thomas Drive Unit 2124, Panama City Beach
$469,900
3 Beds ⋅ 2 Baths ⋅ 796392 MLS
Absolutely stunning Penthouse Condo offering sweeping views of the emerald waters and sugar-white sands of Panama City Beach! This beautifully updated unit features 12-foot ceilings and vestibule windows that fill the space with natural light and breathtaking Gulf views. Recent updates include new flooring, stylish light fixtures, a tiled kitchen backsplash, and a beautifully tiled master shower. Floor-to-ceiling glass doors lead to a private balcony where mornings begin with the sound of the waves and evenings end with unforgettable sunsets over the Gulf. Inside, the open living and dining space is designed to make the most of the view, creating a relaxed coastal atmosphere ideal for unwinding after a day on the beach. The kitchen provides plenty of cabinet space and a functional layout for preparing meals before heading out to explore the area's restaurants, attractions, and entertainment. The primary suite offers a peaceful retreat with direct Gulf views and private balcony access, allowing you to wake up to the sound of the surf. Additional sleeping space makes this property ideal for hosting guests or maximizing rental potential. Located within Laketown Wharf, residents and guests enjoy resort-style amenities including multiple pools, lakefront boardwalk, fitness center, and easy beach access just across the street. With dining, shopping, and entertainment within walking distance, this property places you in the center of everything Panama City Beach has to offer. Whether used as a vacation escape, income-producing rental, or personal beach retreat, this condo offers the chance to enjoy the coastal lifestyle from one of the most sought-after vantage points on the Gulf.

9860 S Thomas Drive Unit 2124, Panama City Beach
9860 S Thomas Drive Unit 1012, Panama City
$499,000
3 Beds ⋅ 3 Baths ⋅ 796357 MLS
ABSOLUTELY GORGEOUS, FULLY REMODELED 3BR/3BA + BUNK ROOM GULF-VIEW UNIT! Don't miss your opportunity to see this stunning residence at Laketown Wharf, where thoughtful updates and upscale finishes create the perfect combination of style, comfort, and coastal living. With more than 1,600 square feet of beautifully appointed resort living space, this impressive unit offers fantastic views from both inside and out. Rental History: 2024 $75,402.72, 2025 - $75,569.16 & YTD 2026 - $72,749.93. From the moment you step inside, you'll appreciate the beautiful luxury vinyl plank flooring that flows throughout the entire unit. The spacious kitchen features stainless steel appliances, quartz countertops, a subway tile backsplash, and open shelving, creating a modern and sophisticated look. The same attention to detail continues throughout the bathrooms, which showcase quartz countertops, custom cabinetry, and elevated dual vanity sinks. Stylish shiplap accents throughout the unit add warmth and character while enhancing the relaxed coastal atmosphere. When it's time to enjoy the outdoors, the oversized Gulf-facing balcony is the perfect place to unwind, entertain, and take in breathtaking views of the sugar-white sand beaches and emerald-green Gulf waters. Located in the heart of Panama City Beach, Laketown Wharf places you just steps from the world-famous beach and offers an impressive collection of resort amenities designed for the whole family. Enjoy five distinctive pools, 810 Billiards & Bowling, the Kids Funscape Playground, Splash Bar & Grill, a Gulf-view fitness center, covered garage parking, and a 52,000-square-foot lakefront boardwalk featuring shops and dining. With easy access to the beach and just a short drive to Pier Park, Topgolf, and Dolly Parton's Pirate Theater, you'll have everything you need for an unforgettable coastal lifestyle. Whether you're searching for a vacation getaway, a proven rental investment, or a full-time residence, this beautifully remodeled Laketown Wharf unit offers an exceptional opportunity to own your own piece of paradise. Schedule your private showing today! ALL INFORMATION CONTAINED HEREIN IS DEEMED RELIABLE, BUT NOT GUARANTEED AND SHOULD BE VERIFIED BY BUYER. SUBJECT TO ERRORS, OMISSIONS IN PRIOR SALE, CHANGES OR WITHDRAWALS WITHOUT NOTICE

9860 S Thomas Drive Unit 1012, Panama City
3707 Mystic St Unit A-B, Panama City Beach
$599,900
5 Beds ⋅ 3 Baths ⋅ 1013374 MLS ⋅ 2,184 SqFt.
Picture this: it's 7 a.m., coffee in hand, and you're strolling across the street to watch the sun come up over the Grand Lagoon. Your boat is in the water from the public ramp one block away before the charter crowd wakes up. By lunch you're toes-in-the-sand at Gulf beach access #11, about half a mile from your door. By sunset you're on the deck at Schooners, about 1.5 miles away. And while you're living the dream, two homes are quietly working for you. That's what 3707 Mystic Street is: a beach lifestyle that pays its own way. This duplex lives like two separate homes, with two private entries, two separate parking areas and each unit's own patio, so neighbors and guests never feel like they're sharing. Mystic Surf (Unit A) is the guest favorite, with three king bedrooms plus a twin and trundle that sleep eight, surf murals in every bedroom, a kitchen big enough for the whole crew, a cozy electric fireplace and a storage shed for the kayaks and paddleboards. Mystic Sun (Unit B) is the hideaway, with two king suites, a full kitchen, a real wood-burning fireplace for those cool December nights and its own shed. For the second-home buyer, this is the beach house that doesn't sit empty. Keep one side as your private getaway, with its own entry, parking and patio. Rent the other side to guests and let them help cover your costs. Come down whenever you want, lock the door when you leave, and let the income keep rolling in. For the investor, this is two income streams on one turnkey property that's already operating as a vacation rental. There's no HOA and nothing to fix, short-term rentals are allowed, and you have the flexibility to run each unit however the market tells you to. For the buyer hunting for multifamily close to the beach, this is the one that's hard to find. Small multifamily properties this close to both the Gulf and the lagoon rarely come up, especially with true separation between units, a corner lot and room to grow. There's space for boat parking, so your boat lives right at home one block from the ramp. There's also room to add a hot tub, the kind of upgrade guests search for and happily pay more for. Everything worth doing is close. The Grand Lagoon marinas and charter fleets are 1 to 2 miles away. The trails and snorkeling at St. Andrews State Park are about 2 miles away. A cold one at Buster's Beer & Bait is an easy walk, and Pier Park is roughly 9 miles away. Now let's talk numbers. Mystic Surf projects about $46,000 a year in rental income, and Mystic Sun projects about $30,000, for a combined projection of roughly $76,000 a year. There's no HOA fee eating into your returns, and both units are already up and running, so there's no setup period and no waiting for your first booking. Keep both on the short-term market for maximum income, or put one side on a mid- or long-term lease for steady, predictable cash flow. Adding a hot tub or capturing boat-friendly guests could push those numbers even higher.

3707 Mystic St Unit A-B, Panama City Beach
3600 Thomas Drive Unit D207, Panama City Beach
$210,000
1 Beds ⋅ 1 Baths ⋅ 796309 MLS
AFFORDABLE BEACH GETAWAY WITH BOATING ACCESS & SHORT-TERM RENTAL POTENTIAL! Welcome to Treasure Cove, where coastal living, convenience, and affordability come together. This charming 2nd floor, 1-bedroom, 1-bath condo offers the perfect opportunity for a beach getaway, second home, or short term rental investment. The unit has never been used as a short term rental, giving the next owner a fresh opportunity to make it their own. Located directly on the lagoon, Treasure Cove offers a pool and boat dock available for owners to enjoy, with Gulf access right from the property. Spend the day boating, fishing, or cruising to Shell Island, just approximately 5 minutes away by boat. Offshore fishing charters, jet ski and pontoon rentals, and the famous Sea Screamer cruise are conveniently located next door. One of the best features of this location is the balance--it's tucked away from the heavier traffic and noise while still being close to all the action. Beach Access #2 is within walking distance, giving you easy access to the beautiful white sand beaches of the Gulf. Whether you're looking for an affordable place at the beach, a second home that can potentially help pay for itself, or an investment opportunity in a highly desirable location, this Treasure Cove condo checks all the boxes!

3600 Thomas Drive Unit D207, Panama City Beach
6505 Thomas Drive Unit 707, Panama City
$385,000
2 Beds ⋅ 2 Baths ⋅ 796304 MLS
2BR/2BA waterfront condo in Summerhouse in Panama City Beach. Gulf views from a 120 sq ft balcony. Furnished 7th-floor unit, built 1985. This furnished 2-bedroom, 2-bath waterfront condo at Summerhouse in Panama City Beach offers 1,015 sq ft of heated and cooled living space on the 7th floor of the B Building's east side. Unit 707 pairs Gulf and lagoon views with a 120 sq ft balcony and wall-to-wall sliding glass doors that bring natural light and coastal views into the living space. Tile flooring runs throughout the unit for a consistent, easy-care finish. The kitchen has been updated with appliances, counters, cabinets, sink, lighting and hardware. Per the owner, the refrigerator and dishwasher were replaced within the last two years. Both bathrooms also feature updated cabinets, sinks, lighting and hardware. The split-bedroom layout includes a waterfront primary bedroom with balcony access, and the condo is offered furnished. Summerhouse is a Gulf-front condominium complex with approximately 400 feet of beach frontage. Community amenities include two pools, including one heated in winter, a kiddie pool, spa/hot tub, tennis and shuffleboard courts, game room, community and owners lounge areas, BBQ grills, gazebo and picnic areas, elevators, security, and onsite homeowners and rental offices. The lobby, check-in and lounge areas have also been updated, along with a small onsite store area for essentials and snacks. The property is located on Thomas Drive, with St. Andrews State Park, restaurants, grocery shopping, and area fishing, diving and sightseeing boat operations nearby. The MLS notes immediate occupancy and owner pet-friendly status. Monthly HOA dues are $1,211.06 and include accounting, cable TV, insurance, internet, grounds maintenance, management, pest control, security, sewer, trash and water.

6505 Thomas Drive Unit 707, Panama City
3707 Mystic Street Unit A-B, Panama City Beach
$599,900
5 Beds ⋅ 3 Baths ⋅ 796274 MLS
Picture this: it's 7 a.m., coffee in hand, and you're strolling across the street to watch the sun come up over the Grand Lagoon. Your boat is in the water from the public ramp one block away before the charter crowd wakes up. By lunch you're toes-in-the-sand at Gulf beach access #11, about half a mile from your door. By sunset you're on the deck at Schooners, about 1.5 miles away. And while you're living the dream, two homes are quietly working for you. That's what 3707 Mystic Street is: a beach lifestyle that pays its own way. This duplex lives like two separate homes, with two private entries, two separate parking areas and each unit's own patio, so neighbors and guests never feel like they're sharing. Mystic Surf (Unit A) is the guest favorite, with three king bedrooms plus a twin and trundle that sleep eight, surf murals in every bedroom, a kitchen big enough for the whole crew, a cozy electric fireplace and a storage shed for the kayaks and paddleboards. Mystic Sun (Unit B) is the hideaway, with two king suites, a full kitchen, a real wood-burning fireplace for those cool December nights and its own shed. For the second-home buyer, this is the beach house that doesn't sit empty. Keep one side as your private getaway, with its own entry, parking and patio. Rent the other side to guests and let them help cover your costs. Come down whenever you want, lock the door when you leave, and let the income keep rolling in. For the investor, this is two income streams on one turnkey property that's already operating as a vacation rental. There's no HOA and nothing to fix, short-term rentals are allowed, and you have the flexibility to run each unit however the market tells you to. For the buyer hunting for multifamily close to the beach, this is the one that's hard to find. Small multifamily properties this close to both the Gulf and the lagoon rarely come up, especially with true separation between units, a corner lot and room to grow. There's space for boat parking, so your boat lives right at home one block from the ramp. There's also room to add a hot tub, the kind of upgrade guests search for and happily pay more for. Everything worth doing is close. The Grand Lagoon marinas and charter fleets are 1 to 2 miles away. The trails and snorkeling at St. Andrews State Park are about 2 miles away. A cold one at Buster's Beer & Bait is an easy walk, and Pier Park is roughly 9 miles away. Now let's talk numbers. Both units have produced 2026 - $74,996 Gross and 2025 - $73,356 Gross There's no HOA fee eating into your returns, and both units are already up and running, so there's no setup period and no waiting for your first booking. Keep both on the short-term market for maximum income, or put one side on a mid- or long-term lease for steady, predictable cash flow. Adding a hot tub or capturing boat-friendly guests could push those numbers even higher.

3707 Mystic Street Unit A-B, Panama City Beach
9902 S Thomas Drive Unit 538, Panama City
$339,999
3 Beds ⋅ 3 Baths ⋅ 796245 MLS
Welcome to Laketown Wharf 538, a modern 3-bedroom, with a bunk room, 3-bathroom condo wrap-around balcony, and stunning updates. Discover the perfect coastal retreat in this beautifully renovated 3-bedroom, 3-bathroom condo. It features a bonus bunk room and an expansive wrap-around balcony. The entire unit has been refreshed with a modern touch, including a fresh coat of paint on walls, cabinets, and doors, along with sleek new door knobs for a contemporary feel. The spacious bedrooms boast two king beds and one queen bed, all equipped with brand-new mattresses, stylish new sheets, and bed covers for ultimate comfort. The cozy bunk room is perfect for additional guests, while the living room offers a plush new sofa, ideal for relaxation. Every room is adorned with elegant new curtains for added privacy and style. The kitchen is equipped with updated appliances, including a dishwasher, microwave, refrigerator, and stove, making meal prep a breeze. Step outside onto the wrap-around balcony to enjoy breathtaking views of the Gulf, city skyline, or serene surroundings. Laketown Wharf takes resort living to the next level with its exceptional amenities. Enjoy five pools, including dedicated options for kids, teens, and adults, as well as private beach access. There's also a state-of-the-art fitness center, a putting green, outdoor gazebos, and a relaxing hot tub. The lakefront boardwalk offers spectacular views and nightly fountain shows choreographed to music, adding a touch of magic to your evenings. Dining and entertainment are just steps away. On-site options include Paradise Pizza, Sunshine Bar & Grill, and Splash Bar. For family fun, 810 Billiards & Bowling offers bowling, arcade games, axe throwing, and more, all within the resort. Nearby attractions such as Pineapple Willy's and Shipwreck Island Waterpark add to the convenience and entertainment options. This condo is truly turnkey and ready for immediate use, making it an excellent choice for both personal enjoyment and rental income.

9902 S Thomas Drive Unit 538, Panama City
5801 Thomas Drive Unit 621, Panama City
$495,000
3 Beds ⋅ 2 Baths ⋅ 796233 MLS
Rare Gulf-Front Opportunity at Regency Towers! Experience breathtaking, panoramic views of the Gulf from this highly sought-after front-stack 3-bedroom, 2-bath residence at Regency Towers. Rarely available on the beachfront, this spacious residence offers a layout well-suited as a primary home, vacation getaway, or income-producing short-term rental. Clear views of emerald waters and picturesque sunsets await from your private Gulf-front balcony, accessible right off the living area. The open floor plan includes a full kitchen, generous dining and living spaces, and comfortably proportioned bedrooms designed to accommodate family and guests with ease. Regency Towers provides an array of resort-style amenities, including two large beachfront pools, a poolside bar and grill, fitness center, billiards room, movie nights, and direct gated access to the white sand beaches. All of this is situated just minutes from Panama City Beach's top dining, shopping, and entertainment spots. Offered fully furnished and turnkey--complete with furniture, decor, and kitchen essentials--this property is set up for immediate personal enjoyment or rental potential.

5801 Thomas Drive Unit 621, Panama City
8727 Thomas Dr Unit UNIT B6, Panama City Beach
$460,000
3 Beds ⋅ 3 Baths ⋅ 1013169 MLS ⋅ 1,512 SqFt.
LOWEST PRICED and one of the LOWEST HOA's of all the 3 Bedroom / 3 Bathroom condos located on the entire beach!!! This unbelievable condo has been loved by the same family for 27 years, and now that they are starting a new chapter in life, they are offering it up at a once in a lifetime price! Let's 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 being just a few short feet to your very own private Beach Access - 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, 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 and the all new and Wildly Popular Tootsie's Honkytonk (with big name country music stars performing regularly)! No need to drive after those adult beverages, your condo is perfectly located just a few seconds away! 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 CERTAINLY 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 3 bedroom in Sugar Beach brings in over $60k annually in rentals, and some of the well-established ones bring in over $80k. At the high end your annual ROI would be well over 10% - which is unheard of nowadays. And with over $90k invested in updates over the last few years, it simply doesn't get any better than this! Updates include: All new kitchen cabinets and counter tops, HVAC, water heater, electrical panel, shower inserts, LVP flooring in bedrooms, couch and loveseat, and all new hurricane sliding doors and windows. Welcome to Paradise!!!

8727 Thomas Dr Unit UNIT B6, Panama City Beach
7205 Thomas Drive Unit A604, Panama City
$475,000
2 Beds ⋅ 2 Baths ⋅ 796178 MLS
BUILDING BEING COMPLETELY RENOVATED!! 2 / 2 unit is on the west side of the building with sunset views. The open kitchen has ample countertop space with a breakfast bar, stainless appliances, updated bathrooms, washer and dryer. 1,500 ft. of sugar-white beachfront, three large gulf-front pools that are seasonally heated, volleyball, lighted tennis courts, basketball, shuffleboard, swing sets on the beach, outdoor BBQ grills, picnic tables, fitness room, wireless internet throughout the property, private meeting rooms available for rent and onsite beach chair and umbrella rentals. All measurements & sizes taken from appraiser site and approximate. Buyer should verify any and all information that they deem to be important!

7205 Thomas Drive Unit A604, Panama City
8743 Thomas Drive Unit 1222, Panama City Beach
$339,000
1 Beds ⋅ 2 Baths ⋅ 796161 MLS
Gulf-front condo at The Summit Beach Resort in Panama City Beach! This well-located unit offers beautiful Gulf views and direct access to the white-sand beach from one of PCB's established beachfront resorts. The Summit is a 15-story complex on Thomas Drive, close to restaurants, shopping, entertainment, and popular area attractions. Resort amenities include multiple pools, hot tubs, a fitness center, tennis and basketball courts, shuffleboard, saunas, on-site dining, a convenience/gift shop, and direct beach access. The condo offers a functional layout with a private balcony overlooking the Gulf, making it a great option for a primary residence, second home, or vacation-rental investment. Enjoy incredible sunsets, easy beach access, and the convenience of resort-style amenities right outside your door. The Summit's central Thomas Drive location keeps you close to everything Panama City Beach has to offer while still giving you the full beachfront experience.

8743 Thomas Drive Unit 1222, Panama City Beach
5801 S Thomas Drive Unit 701, Panama City
$475,000
3 Beds ⋅ 2 Baths ⋅ 796119 MLS
Ready to make a move before the end of the year? The seller is offering a $10,000 credit with an acceptable offer! Offer must close by December 31, 2026. That's $10,000 toward your closing costs, prepaid expenses, rate buy-down, or other allowable costs, giving you even more flexibility when purchasing this property. Welcome to the largest 3-bedroom, 2-bath floor plan in Regency Towers! This spacious Gulf-front residence offers an open floor plan with plenty of room in the kitchen, living area, dining area, and entry. The large primary bedroom overlooks the Gulf and offers direct access to the oversized balcony, while both guest bedrooms are generously sized, with one furnished with a king bed and the other featuring two queen beds. The kitchen is equipped with stainless steel appliances that are less than two years old, and the washer and dryer are less than one year old. The air handler was replaced in 2019, and the water heater was replaced in 2017. Step outside to the oversized balcony and enjoy breathtaking western views of the Gulf, including beautiful sunsets. Currently enrolled in the onsite rental program, this property offers immediate rental income with future bookings already on the calendar. Regency Towers features a community pool, BBQ grills, tiki bar, onsite rental office, and community room. Conveniently located near shopping, restaurants, entertainment, and all that Panama City Beach has to offer. Professional photography coming soon.

5801 S Thomas Drive Unit 701, Panama City
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