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8727 Thomas Drive Unit C40, Panama City, FL 32408

$265,000
: 2
BD
: 2
BA

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Sold Price: $265,000
List Price: $299,000
Closing Date: May 29, 2026
MLS#: 782393
Status: CLOSED
Type: Condo
Subtype: Condominium
Bedrooms: 2
Bathrooms: 2
Neighborhood: Beach - South of Grand Lagoon

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Property Description

CURRENTLY UNDER CONTRACT, SELLER ACCEPTING BACKUP OFFERS! 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!!!

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Additional Information

Appliances: Washer/Dryer Stacked, Electric Oven, Electric Water Heater
Elementary School: Breakfast Point
High School: Arnold
Middle School: Breakfast Point
Neighborhood: Beach - South of Grand Lagoon
Project Facilities: Barbecue, Beach, Clubhouse, Laundry Facilities, Park, Pool, Tennis Court(s), Waterfront, Community Pool, Gated, Short Term Rental Allowed
Stories: 3
Subdivision: Sugar Beach Condo
Utilities: Cable Connected, Electricity Available, High Speed Internet Available
Waterfront: Yes
Waterview: Other
Year Built: 1974
Zoning: Resid Multi-Family