9900 S Thomas Drive 2331, Panama City Beach, FL 32408 (MLS# 784818)

List Price/SqFt: 460.71

Status: Active

List Date: 2026-02-06

List Price: $645,000

Current Price: $645,000

Unit #: 2331

Sub Area: 0318 - Beach - Central South

Community/Resort: None

Waterfront: Yes

Gulf Access: Yes

Elementary School: Breakfast Point

Middle School: Breakfast Point

High School: Arnold

Directions: Traveling east on Front Beach Road, turn right on Thomas Drive and the building is at first curve in road on right.

Area: 03 - Bay County - Beach

Street #: 9900

Street Direction: S

Street Name: Thomas

Street Suffix: Drive

State: FL

Zip Code: 32408

County: Bay

Subdivision: Shores Of Panama Phase II

Parcel ID: 40000-675-298

Legal Description: SHORES OF PANAMA II UNIT 2331 TYPE U ORB 2835 P 434 3BR 3BA ORB 4438 P 370 1400 TOTAL SF . PK SP #206

Floor Number: 23

Design: High-Rise (8+ floors)

Apx SqFt(Htd/Cooled): 1400

Construction Status: Construction Complete

SqFt Source: Builders Plans

Lot Dimensions: N/A

New Construction: No

Garage Y/N: No

Pool: Yes

Pool Type: Community

Sub-Type: Condominium

Bedrooms: 3

Full Baths: 3

Total Baths: 3

Year Built: 2007

HOA Fee: Yes

HOA Amount: 4500

HOA Frequency: Quarterly

HOA Annual Amount: 18000

New Buyer Fee: No

Last Taxes: 6693

Last Tax Year: 2025

Brokerage Interest: Owner Outside Licensee - Owner is a licensed real estate broker or salesperson.

Condo Doc: Yes

Remarks: Investor opportunity in one of Panama City Beach's most recognizable beachfront resorts. This 3BR/3BA penthouse at Shores of Panama is uniquely positioned on the end of the U-shaped building, placing it directly on the Gulf with sweeping, unobstructed beach and water views. The expansive wrap-around balcony is a rare feature in the building and creates a premium guest experience that consistently drives stronger booking performance and higher nightly rates. From a rental perspective, this unit checks the boxes vacation guests actively search for: penthouse elevation, true Gulf-front exposure, large balcony space, and a full 3 bedroom / 3 bathroom layout that comfortably accommodates larger groups and families. These features tend to command higher ADRs and stronger occupancy compared to interior or lower-floor units. The bright kitchen opens to the living and dining areas, maximizing both natural light and the view corridor -- another key factor in guest reviews and repeat bookings. Additional value comes with the dedicated parking space and private storage closet, a sought-after bonus within Shores of Panama that enhances owner convenience and guest usability. Shores of Panama remains one of the most amenity-rich resorts on the beach, featuring a lagoon-style Gulf-front pool, hot tubs, fitness center, on-site dining, and direct beach access. The location places guests within walking distance of popular attractions including Pineapple Willy's, 810 Billiards & Bowling, and numerous dining and entertainment options, all of which help drive consistent rental demand. Well-positioned 3BR units in this building commonly produce approximately $80,000-$90,000 annually in rental income, with potential upside into the $100,000+ range when professionally optimized. Opportunities to purchase a true beachfront 3BR penthouse with a wrap-around balcony in Shores of Panama are limited. For investors seeking a property with strong rental fundamentals and standout guest appeal, this unit offers a compelling combination of location, layout, and income potential.

Dishwasher: 1

Microwave: 1

Range - Electric: 1

Refrigerator: 1

Water Heater - Electric: 1

Balcony: 1

Beach: 1

Dumpster: 1

Exercise Room: 1

Game Room: 1

Pool: 1

TV Cable: 1

Furnished: 1

Assigned: 1

Deeded: 1

BBQ Pit/Grill: 1

Beach: 1

Dumpster: 1

Elevators: 1

Exercise Room: 1

Game Room: 1

Pavilion/Gazebo: 1

Pool: 1

Security-24 hour: 1

Separate Storage: 1

Waterfront: 1

Whirlpool: 1

Bedroom: 1

Master Bedroom: 1

Electricity - Connected: 1

Gulf: 1

As Is: 1

Gulf: 1

First: 1

First: 1

24 Hour Security: 1

Building Security: 1