5004 S Thomas Drive 2304, Panama City Beach, FL 32408

$615,000
Property Type: Residential Bedrooms: 2 Baths: 2 Square Footage: 1,370 Status: Active
Current Price: $615,000 List Date: 2/09/2026 Last Modified: 2/13/2026

Description

Penthouse Perfection at Treasure Island in East Panama City Beach. Some condos feel like rentals; this one feels like a reward. From the moment you enter, you can tell this penthouse has been updated, maintained, and made ready for immediate enjoyment. Fresh paint, brand-new coastal furnishings, and tile flooring throughout create that clean, breezy, 'yes, this is why I bought at the beach' feeling. Even better... It's pet-friendly but is still so pristine you'd never guess. The details are where this unit really shines. Updated bathrooms with stylish new vanities and playful coastal accents. Built-in bunks tucked behind the dining area (complete with charming porthole touches) that add extra sleeping space without sacrificing flow.

Supplements: A bright kitchen featuring a new white refrigerator and built-in microwave. Plus - and this is big - a new washer/dryer and HVAC system already in place. Now let's talk about the part buyers quietly stress over... the HOA. Treasure Island delivers rare peace of mind with fully funded reserves, passed inspections, and a history of zero special assessments during the seller's ownership. In fact, dues were recently reduced thanks to strong management and insurance improvements. New high-speed elevators are already underway and already fully covered within the existing budget. Ownership here has been both easy and profitable. The unit generated approximately $45,000 in rental income in 2025, with room to grow. The complex is exceptionally rental-friendly, including a highly desirable feature: renters may bring one dog under 30 lbs. And the location? Hard to beat. Positioned between the iconic Schooners Restaurant and St. Andrews State Park, you're surrounded by the best of East PCB - dining, recreation, and that slightly quieter, more relaxed stretch of beach. Assigned covered parking included. Strong financials. Turn-key condition. Proven income. Whether you're searching for a getaway, an investment, or your own slice of penthouse beach life... this one checks boxes fast. Schedule your showing today. A video tour is also available.

More Information MLS# 994868

Status Change Info

Status: Active

Contract Info

List Date: 2025-11-26 Current Price: $615,000 List Price: $615,000 List Price/SqFt: 448.91 Listing Board: Emerald Coast

Location Tax and Legal

Area: 27 - Bay County Street #: 5004 Street Direction: S Street Name: Thomas Street Suffix: Drive State: FL Zip Code: 32408 County: Bay Project Name/Subdivision: TREASURE ISLAND Parcel ID: 31437-355-000

General Property Info

Sub-Type: Condominium Design: N/A Apx SqFt(Htd/Cooled): 1370 SqFt Source: County PA Records Bedrooms: 2 Full Baths: 2 Total Bathrooms: 2 Stories In Unit: 1 Unit Floors Above Ground: 23 Year Built: 2005 Garage: Yes Carport: No Pool: Yes Pool Type: Community

Property Features

Construction Status: Construction Complete Waterfront: Gulf Waterview: Gulf Parking Features: Garage Project Facilities: Beach; Community Room; Dumpster; Elevators; Exercise Room; Pool; Short Term Rental - Allowed; Waterfront Utilities: Electric; Public Sewer; Public Water; TV Cable Energy: AC - Central Elect Master Bedroom: First Bedroom: First Kitchen: First Living Room: First Rooms: Bedroom; Kitchen; Living Room; Master Bedroom

Room Information

Master Bedroom Level: First Dimensions: 14 x 12 Length: 14.00 Width: 12.00 Remarks: Buyer to Verify Dimensions: 14 x 12 Bedroom Level: First Dimensions: 13 x 11 Length: 13.00 Width: 11.00 Remarks: Buyer to Verify Dimensions: 13 x 11 Living Room Level: First Dimensions: 16 x 15 Length: 16.00 Width: 15.00 Remarks: Buyer to Verify Dimensions: 16 x 15 Kitchen Level: First Dimensions: 14 x 14 Length: 14.00 Width: 14.00 Remarks: Buyer to Verify Dimensions: 14 x 14
Listing Office: Coldwell Banker Realty
Last Updated: February - 13 - 2026
All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2026 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.

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