5518 Thomas Drive, Panama City, FL 32408 (MLS# 781204)

5518 Thomas Drive, Panama City, FL 32408

$1,400,000

Property Type: Residential Land Lot Size (sq. ft.): 22,000 Status: Active

Current Price: $1,400,000 List Date: 11/04/2025 Last Modified: 3/31/2026

Overview

Description

This is your chance to secure a rare development opportunity along the highly sought-after Thomas Drive business corridor. An exceptional .51-acre site (three combined lots: 100' x 220') with frontage on Thomas Drive, Beach Drive, and Biltmore Drive. This unique configuration provides access from three road fronts, offering excellent visibility and accessibility for future development. • Zoned C-1 (Neighborhood Commercial) – allows for a wide range of commercial, mixed-use, and multifamily opportunities • Density: Up to 15 units per acre • Not in a flood zone, yet just 500 feet from the Gulf of Mexico • Gulf views possible from a multi-story structure • Surrounded by new homes, high-rise condos, restaurants, close to public beach access (#9), and major attractions • Ideal for commercial retail, short-term rentals, townhomes, or a mixed-use development A three-story building on this site would capture breathtaking Gulf views, making it perfect for a boutique hotel, r … (Read more)

Listing Details MLS# 781204

Contract Info

List Price/Acre: 2745098.04

Location

Street #: 5518
Street Name: Thomas
Street Suffix: Drive
Area: 03 – Bay County – Beach
State: FL
Zip Code: 32408
County: Bay
Sub Area: 0323 – Beach – South of Grand Lagoon
Subdivision: Gulf Lagoon Beach
Community/Resort: None
Waterfront: No
Parcel ID: 32362-000-000
Elementary School: Patronis
Middle School: Surfside
High School: Arnold
Directions: South on Navy Blvd.. Drive for 4.2 miles. Property is on right, northwest corner of Thomas Drive & Biltmore Drive.
Legal Description: GULF LAGOON BEACH LOTS 1 & 2 BLK 16 ORB 4617 P 1904

General Property Info

Sub-Type: Vacant Land
Lot Dimensions: 100×220
Acreage: 0.51
Lot Size (SqFt): 22000

Listing Info, Tax & Legal

HOA Fee: No
Is Subject Leased: No
As Is: Yes

Remarks & Misc

Remarks: This is your chance to secure a rare development opportunity along the highly sought-after Thomas Drive business corridor. An exceptional .51-acre site (three combined lots: 100' x 220') with frontage on Thomas Drive, Beach Drive, and Biltmore Drive. This unique configuration provides access from three road fronts, offering excellent visibility and accessibility for future development. • Zoned C-1 (Neighborhood Commercial) – allows for a wide range of commercial, mixed-use, and multifamily opportunities • Density: Up to 15 units per acre • Not in a flood zone, yet just 500 feet from the Gulf of Mexico • Gulf views possible from a multi-story structure • Surrounded by new homes, high-rise condos, restaurants, close to public beach access (#9), and major attractions • Ideal for commercial retail, short-term rentals, townhomes, or a mixed-use development A three-story building on this site would capture breathtaking Gulf views, making it perfect for a boutique hotel, retail center, or luxury residential units. Buyer should verify all details related to this property. Property includes 3 parcels- 32362-000-000; 31857-000-000; 31856-000-000

Financing

Cash: Yes
Conventional: Yes

More Information

Lot Features

Corner Lot: Yes
Near Beach Access: Yes
Within 1/2 Mile to Water: Yes

Lot Access

County Road: Yes
Paved Road: Yes

Present Zoning

General Commercial: Yes

Utilities

Electric – On-Site: Yes
Sewer Available: Yes
Water Available: Yes

Waterview

Gulf: Yes

Sale Type

As Is: Yes

Property Features

Financing: Cash; Conventional Lot Access: County Road; Paved Road Lot Features: Corner Lot; Near Beach Access; Within 1/2 Mile to Water Sale Type: As Is Utilities: Electric – On-Site; Sewer Available; Water Available Waterview: Gulf Present Zoning: General Commercial

Listing Office: Local Insight Realty

Last Updated: March – 31 – 2026

Information deemed reliable but not guaranteed.