5940 Gulf Drive, Panama City Beach, FL 32408

$3,100,000
Property Type: Residential Bedrooms: 5 Baths: 7 Square Footage: 4,090 Lot Size (sq. ft.): 5,358 Status: Under Contract – Taking Backups
Current Price: $3,100,000 List Date: 1/02/2026 Last Modified: 1/21/2026

Description

Introducing a rare opportunity in Hadley’s Beach an exclusive, low-density Gulf-front community in Panama City Beach. One of just ten first-tier homesites, this newly constructed three-story retreat is purpose-built for luxury living and exceptional rental performance, offering stunning design, panoramic views, and turnkey income potential. Step into the first floor where a private guest suite and a relaxed secondary living space set the tone for coastal comfort. Expansive sliders open to a covered outdoor kitchen and lounge, perfect for seamless indoor-outdoor entertaining. Just beyond, a heated saltwater pool with a sun shelf and swim deck invites relaxation in a setting just steps from the beach. Ride the private elevator to the second floor, where 12-foot ceilings and floor-to-ceiling windows frame the breathtaking Gulf. This level features a spacious open-concept living and dining area and a chef’s kitchen outfitted with high-end appliances, premium finishes, and an oversized island built for gathering. A guest bedroom and 1.5 bathrooms offer comfort and flexibility for renters or family. The third floor delivers privacy and sleeping capacity with two Gulf-facing primary suites featuring spa-style baths and balconies, a custom bunk room designed for families and kids, and an additional guest bedroom with full bath. With 5 bedrooms, 6.5 bathrooms, and multiple living spaces across all three levels, the layout is tailor-made for high-volume short-term rentals. Every detail has been designed for ease and income from the full fire suppression system meeting all STR code requirements to the garage and oversized driveway with parking for 5+ vehicles, including an EV charger. Whether you’re seeking a luxury second home, full-time residence, or a rental machine in one of the Gulf Coast’s most coveted beach communities, this Hadley’s Beach home delivers unmatched value, beauty, and return on investment.

More Information MLS# 783122

Listing Info, Tax and Legal

HOA Fee: Yes HOA Amount: 500 HOA Frequency: Annually HOA Annual Amount: 500 New Buyer Fee: No Last Taxes: 5161 Last Tax Year: 2024 Brokerage Interest: No Interest

Contract Info

List Price/SqFt: 757.95 Status: Under Contract – Taking Backups List Date: 2026-01-01 List Price: $3,100,000 Current Price: $3,100,000

Location

Sub Area: 0323 – Beach – South of Grand Lagoon Community/Resort: None Waterfront: No Elementary School: Patronis Middle School: Surfside High School: Arnold Directions: Heading East on Thomas Drive, turn right onto Nova Street and then take the first right onto Gulf Drive which will take you to the community entrance. The community is between the Watercrest Condominium and Regency Towers Condominium. Area: 03 – Bay County – Beach Street #: 5940 Street Name: Gulf Street Suffix: Drive State: FL Zip Code: 32408 County: Bay Subdivision: Hadley’s Beach Parcel ID: 30932-100-220 Legal Description: HADLEY’S BEACH LOT 22

General Property Info

Acreage: 0.12 Design: Beach House Lot Size (SqFt): 5358 Apx SqFt(Htd/Cooled): 4090 Construction Status: Construction Complete SqFt Source: Builders Plans Half Baths: 1 # of Stories in Building: 3 Lot Dimensions: 100 X 50 New Construction: Yes Garage Y/N: Yes Garage Spaces: 1 Driveway Spaces: 4 Pool: Yes Pool Type: Private Sub-Type: Detached Single Family Bedrooms: 5 Full Baths: 6 Total Baths: 7 Year Built: 2025

Remarks & Misc

Remarks: Introducing a rare opportunity in Hadley’s Beach an exclusive, low-density Gulf-front community in Panama City Beach. One of just ten first-tier homesites, this newly constructed three-story retreat is purpose-built for luxury living and exceptional rental performance, offering stunning design, panoramic views, and turnkey income potential. Step into the first floor where a private guest suite and a relaxed secondary living space set the tone for coastal comfort. Expansive sliders open to a covered outdoor kitchen and lounge, perfect for seamless indoor-outdoor entertaining. Just beyond, a heated saltwater pool with a sun shelf and swim deck invites relaxation in a setting just steps from the beach. Ride the private elevator to the second floor, where 12-foot ceilings and floor-to-ceiling windows frame the breathtaking Gulf. This level features a spacious open-concept living and dining area and a chef’s kitchen outfitted with high-end appliances, premium finishes, and an oversized island built for gathering. A guest bedroom and 1.5 bathrooms offer comfort and flexibility for renters or family. The third floor delivers privacy and sleeping capacity with two Gulf-facing primary suites featuring spa-style baths and balconies, a custom bunk room designed for families and kids, and an additional guest bedroom with full bath. With 5 bedrooms, 6.5 bathrooms, and multiple living spaces across all three levels, the layout is tailor-made for high-volume short-term rentals. Every detail has been designed for ease and income from the full fire suppression system meeting all STR code requirements to the garage and oversized driveway with parking for 5+ vehicles, including an EV charger. Whether you’re seeking a luxury second home, full-time residence, or a rental machine in one of the Gulf Coast’s most coveted beach communities, this Hadley’s Beach home delivers unmatched value, beauty, and return on investment.

Balcony

Second: 1 Third: 1

Bunk Room

Third: 1

Dining Room

Second: 1

Garage

First: 1

Great Room

Second: 1

Laundry

First: 1

Other

First: 1

Pool Features

Heated – Gas: 1 Inground: 1 Saltwater: 1

Appliances

Bar Fridge: 1 Cooktop – Gas: 1 Dishwasher: 1 Disposal: 1 Dryer: 1 Ice Maker: 1 Microwave: 1 Oven – Gas: 1 Range – Gas: 1 Range Hood: 1 Refrigerator: 1 Washer: 1 Water Heater – Gas: 1 Water Heater – Tankless: 1

Interior Features

Ceiling – Beamed: 1 Elevator: 1 Floor – Tile: 1 Floor – Vinyl Plank: 1 Kitchen Island: 1 Lighting – Recessed: 1

Construction/Siding

Concrete: 1 Foundation – Slab on Grade: 1 Wood/Frame: 1 Roof – Metal: 1 Siding – Hardie Board: 1 Trim – Hardie Board: 1

Exterior

Balcony: 1 Built-in Barbecue/Grill: 1 Deck Covered: 1 Fenced Privacy: 1 Summer Kitchen: 1 Shower: 1 Patio Covered: 1

Association Fees Include

Accounting: 1 Legal: 1

Furnished

Furnished: 1

Interior

Bunk Room: 1 Smart Thermostat: 1

Kitchen

Second: 1

Living Room

First: 1

Lot Features

Near Beach Access: 1

Lot Access

County Road: 1

Parking Features

Driveway: 1 Electric Vehicle Charging Station(s): 1 Garage Attached: 1 Paver Block: 1

Mstr Bath / Mstr Bdrm

MBath Double Vanity: 1 MBath Garden Tub: 1 MBath Separate Shwr: 1 MBed Balcony: 1 MBed Walk-in Closet: 1

Rooms

Balcony: 1 Bedroom: 1 Bunk Room: 1 Dining Room: 1 Garage: 1 Great Room: 1 Kitchen: 1 Laundry: 1 Living Room: 1 Master Bedroom: 1 Other: 1

Utilities

Cable – Available: 1 Garbage: 1 Natural Gas – Available: 1 Natural Gas – Connected: 1 Internet – Fiber Optic: 1 Sewer Available: 1 Public Water – Available: 1 Underground Utilities: 1

Waterview

Gulf: 1

Sale Type

As Is: 1

Master Bedroom

Third: 1

Bedroom

First: 1 Second: 1 Third: 1

Cooling

Ceiling Fan(s): 1 Central Air: 1 Electric: 1

Heating

Electric: 1

Security Features

Carbon Monoxide Detector: 1 Fire Alarm: 1 Fire Sprinkler System: 1 Smoke Detector(s): 1

Status Change Info

Under Contract Date: 2026-01-21

Property Features

Appliances: Bar Fridge; Cooktop – Gas; Dishwasher; Disposal; Dryer; Ice Maker; Microwave; Oven – Gas; Range – Gas; Range Hood; Refrigerator; Washer; Water Heater – Gas; Water Heater – Tankless Master Bedroom: Third Bedroom: First; Second; Third Cooling: Ceiling Fan(s); Central Air; Electric Heating: Electric Exterior: Balcony; Built-in Barbecue/Grill; Deck Covered; Fenced Privacy; Summer Kitchen; Shower; Patio Covered Association Fees Include: Accounting; Legal Furnished: Furnished Interior: Bunk Room; Smart Thermostat Kitchen: Second Living Room: First Lot Features: Near Beach Access Lot Access: County Road Balcony: Second; Third Bunk Room: Third Dining Room: Second Great Room: Second Garage: First Laundry: First Other: First Pool Features: Heated – Gas; Inground; Saltwater Security Features: Carbon Monoxide Detector; Fire Alarm; Fire Sprinkler System; Smoke Detector(s) Parking Features: Driveway; Electric Vehicle Charging Station(s); Garage Attached; Paver Block Rooms: Balcony; Bedroom; Bunk Room; Dining Room; Garage; Great Room; Kitchen; Laundry; Living Room; Master Bedroom; Other Sale Type: As Is Utilities: Cable – Available; Garbage; Internet – Fiber Optic; Natural Gas – Available; Natural Gas – Connected; Sewer Available; Public Water – Available; Underground Utilities Waterview: Gulf

Room Information

Bedroom Level: First Dimensions: 16 x 136 Length: 16.00 Width: 136.00 Dimensions: 16 x 136 Remarks: Bedroom 1 Living Room Level: First Dimensions: 236 x 17 Length: 236.00 Width: 17.00 Dimensions: 236 x 17 Remarks: Game Room Garage Level: First Dimensions: 13 x 22 Length: 13.00 Width: 22.00 Dimensions: 13 x 22 Laundry Level: First Dimensions: 72 x 8 Length: 72.00 Width: 8.00 Dimensions: 72 x 8 Other Level: First Dimensions: 196 x 126 Length: 196.00 Width: 126.00 Dimensions: 196 x 126 Remarks: Lanai Bedroom Level: Second Dimensions: 12 x 122 Length: 12.00 Width: 122.00 Dimensions: 12 x 122 Remarks: Bedroom 2 Kitchen Level: Second Dimensions: 17 x 136 Length: 17.00 Width: 136.00 Dimensions: 17 x 136 Dining Room Level: Second Dimensions: 126 x 184 Length: 126.00 Width: 184.00 Dimensions: 126 x 184 Great Room Level: Second Dimensions: 246 x 184 Length: 246.00 Width: 184.00 Dimensions: 246 x 184 Balcony Level: Second Dimensions: 142 x 8 Length: 142.00 Width: 8.00 Dimensions: 142 x 8 Remarks: Bedroom 2 Balcony Balcony Level: Second Dimensions: 38 x 8 Length: 38.00 Width: 8.00 Dimensions: 38 x 8 Bedroom Level: Third Dimensions: 13 x 146 Length: 13.00 Width: 146.00 Dimensions: 13 x 146 Remarks: Bedroom 3 Master Bedroom Level: Third Dimensions: 1,310 x 17 Length: 1310.00 Width: 17.00 Dimensions: 1,310 x 17 Bunk Room Level: Third Dimensions: 12 x 16 Length: 12.00 Width: 16.00 Dimensions: 12 x 16 Remarks: Bunk Area w/built-ins Balcony Level: Third Dimensions: 24 x 8 Length: 24.00 Width: 8.00 Dimensions: 24 x 8
Listing Office: Miller & Associates Realty
Last Updated: January – 21 – 2026
Information deemed reliable but not guaranteed.