7205 Thomas Drive 1206, Panama City Beach, FL 32408 (MLS# 788474)

Floor Number: 12

Design: High-Rise (8+ floors)

Apx SqFt(Htd/Cooled): 1975

Construction Status: Construction Complete

SqFt Source: Owner Measured

Accessory Dwelling Unit: No

Lot Dimensions: 0X0

New Construction: Yes

Garage Y/N: Yes

Garage Spaces: 1

Covered Spaces: 1

Pool: Yes

Pool Type: Community

Sub-Type: Condominium

Bedrooms: 3

Full Baths: 2

Total Baths: 2

Year Built: 1985

List Price/SqFt: 346.33

Status: Active

List Date: 2026-04-16

List Price: $684,000

Current Price: $684,000

Unit #: 1206

Sub Area: 0323 - Beach - South of Grand Lagoon

Community/Resort: None

Waterfront: Yes

Gulf Access: Yes

Elementary School: Patronis

Middle School: Surfside

High School: Arnold

Directions: After crossing the Hathaway Bridge, continue a short distance and turn left directly onto Thomas Drive at the second traffic light. Then drive east/southeast on Thomas Drive until you reach 7205 (Dunes of Panama will be on your right or left depending on exact approach -- about 2-3 miles total on Thomas Dr).

Area: 03 - Bay County - Beach

Street #: 7205

Street Name: Thomas

Street Suffix: Drive

State: FL

Zip Code: 32408

County: Bay

Subdivision: Dunes Of Panama Phase V

Parcel ID: 30840-816-000

Legal Description: DUNES OF PANAMA PHASE V UNIT E-1206 & G-66 ORB 1015 P 1886 3BR 2B 1480 H&C ORB 4500 P 929

HOA Fee: Yes

HOA Amount: 1646

HOA Frequency: Monthly

HOA Annual Amount: 19752

New Buyer Fee: No

Brokerage Interest: No Interest

Condo Doc: Yes

Remarks: Rare Gulf-Front Corner Unit | Huge Wrap-Around Balconies | Perfect Renovation Opportunity | 2026 Rental income 72k YTD and projections after renovation 100k+. Renovate in the off season to capture rents for 2027 season. This is the dream property for someone who wants to put their own stamp on a true gulf-front unit. Located in the highly desirable Building E, this rare corner/end unit offers approximately 1,975 sq ft of heated living space with expansive panoramic emerald-green views. Floor-to-ceiling glass sliders open to huge wrap-around balconies from all three gulf-front bedrooms and the living room, flooding the entire unit with natural light and stunning views. The living area features a full wall of glass overlooking the Gulf, and the kitchen is positioned to enjoy the gulf views as well, allowing you to cook while watching the beach. The thoughtful split floor plan provides excellent privacy, with the master suite separated from the guest bedrooms. A flexible bonus room off the master can easily become a walk-in closet, office, or additional sleeping space. The unit comfortably sleeps 10-14 guests depending on configuration. A new outer shell has already been installed, so the expensive exterior work is complete. This unit is a true blank canvas with strong bones, incredible views, and substantial balcony space -- ready for your personal finishes. Resort amenities include beachfront bar & grill, two heated pools, tennis and pickleball courts, gated security, direct beach access, and deeded covered parking. Short-term rentals are allowed, making this an excellent candidate for a high-performing vacation rental once updated, or a spectacular second home you can fully customize.

Heated - Electric: 1

Cooktop - Electric: 1

Dishwasher: 1

Microwave: 1

Oven - Electric: 1

Range - Electric: 1

Water Heater - Electric: 1

Floor - Tile: 1

Split Bedroom: 1

Balcony: 1

Exercise Room: 1

Gated Community: 1

Ground Keeping: 1

Pool: 1

Security: 1

Sewer: 1

Tennis: 1

Water: 1

Cash: 1

Conventional: 1

Furnished: 1

Bonus Room: 1

Floor - Carpet: 1

First: 1

Deeded: 1

Beach: 1

Exercise Room: 1

Pool: 1

Tennis: 1

Waterfront: 1

Pickle Ball: 1

Bedroom: 1

Kitchen: 1

Primary Bedroom: 1

TV Cable: 1

Electricity - Connected: 1

Public Sewer - Connected: 1

Public Water - Connected: 1

Gulf: 1

As Is: 1

Gulf: 1

First: 1

First: 1

Central Air: 1

Central: 1

MBed Balcony: 1

MBed Waterfront: 1

MBath Shower/Tub Combo: 1

24 Hour Security: 1