Sold
8727 Thomas Drive, UNIT B14
Panama City Beach FL, 32408
$523,000
$345.90 per sqft
Sold
3 Beds
3 Baths
1,512 sqft
Condos
Built in 1974
If an 8% Return on Investment (ROI) sounds too good to be true, I challenge you to give me just a few seconds to change your mind...
A seasoned investor knows to base their decisions on facts and solid data (not projections), and this incredible property has already grossed $52k since last June, and with current bookings/open opportunities, it is well on pace to exceed $70k in the previous 12 months. What makes this all the more impressive is the fact that this is the unit's first full year on the rental market, and it is only getting started! So why is this one different from all the others in PCB?
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, tennis/pickleball courts, shuffleboard, a grilling area, a huge koi/turtle pond right out your back door, countless nearby restaurants/activities, over 375 feet of incredible beach access, and the list goes on!
If the uniqueness of the property isn't enough to win your heart, just wait till you take a look inside what is destined to become your Gulf View condo...
This amazing rental machine boasts a beautiful kitchen with stainless steel appliances, and it overlooks the breakfast bar, the living room, and the beautiful greenspace located right outside of your 2 back patios.
The downstairs living area is well equipped with durable tile flooring, while the upstairs living areas and bedrooms are tastefully decorated with coastal style LVP flooring.
The 3 well positioned bathrooms have updated toilets, vanities, and decor, and the entire condo is thoughtfully decorated with stylish furniture and decor.
This incredible condo has everything you need to comfortably sleep 8, but when it's time to explore the sugar white sands of PCB, simply head out your back door to the private beach access - just a few feet away!
After watching some of the world's most awe-inspiring sunsets on the beach or from your back patio, head out front to 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 your front door - and you don't need any vehicles to enjoy the best that PCB has to offer because of this condo's incredible location!
When it comes to successful vacation rentals, it's all about location, location, location - and this condo is in the heart of everything you might want for creating unforgettable memories.
For the kiddos, there are go cart tracks, video arcades, mini golf courses, thrill rides, ice cream shops, souvenir shops, and the list goes on!
For the adults, there are numerous bars/restaurants right outside your door - including the Famous Ms. Newby's! No need to drive after those adult beverages, your condo is perfectly located just a few seconds away!!!
The average 3 bedroom in Sugar Beach brings in over $55k 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 13% on a financed purchase - which is unheard of nowadays!
And even as you are getting established, using the condo for yourself a few weeks each year, and building your client base, you would still be enjoying a 2% ROI - plus appreciation and equity gains (way better than banks, crypto, and the stock market offers)!
Welcome Home!
922348
MLSⓇ ID
May 2, 2023
Listed
November 22, 2024
Updated
Map
8727 Thomas Drive, UNIT B14
Panama City Beach FL, 32408
Interior Features
Total Stories
3
Bedrooms
3
Total Bathrooms
3
Full Bathrooms
3
Interior Features
Floor Laminate, Floor Tile, Furnished - All, Owners Closet, Renovated, Washer/Dryer Hookup, Window Treatment All
Appliances
Dishwasher, Dryer, Microwave, Refrigerator, Smooth Stovetop Rnge, Stove/Oven Electric, Washer
Fireplace
No
Cooling
Yes
Cooling Description
Ceiling Fan(s), Central Air
Heating
Yes
Heating Description
Central
Exterior/Building Features
Exterior Features
Balcony, BBQ Pit/Grill, Fenced Lot-All, Patio Covered, Patio Open, Pool - House, Pool - In-Ground, Porch, Sprinkler System, Tennis Court
Architectual Style
N/A
School Information
High School
Arnold
Elementary School
Breakfast Point
Other Property Details
Area Name
27 - Bay County
Taxes
$3,075
Tax Frequency
Annually
Days on Market
17
Association Fee
$1,856
Association Fee Frequency
Quarterly
Garage
No
View
Yes
View Description
Pond, Gulf
County
Bay
Pool
Yes
Pool Features
Pool Type
Waterfront
Yes
Listing History
Date | Event | Price |
---|---|---|
7/6/2023 | Price change | $523,000 -4% |
7/6/2023 | Sold | $523,000 |
5/27/2023 | Pending | — |
Courtesy of Beachy Beach Real Estate, Garrett S Aune,
Listing Contact: 850-588-8908
IDX information is provided exclusively for consumers’ personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Rachel Warrell shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
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Data last updated 1:01 PM UTC, 11/22/2024