Gulf Lagoon Beach Homes with False Waterfront

First time to hit the market, 4 bedroom(plus bunk room) RENTAL POWERHOUSE on the highly sought after East End. One home off the water on a stretch of beach not overrun with condos. Owners, investors and tourists/guests LOVE this area for that exact reason. Schooners is on Gulf Dr- a 6 min walk, St Andrews State Park is 1 mile away, and the some of the beach's very best restaurants are concentrated in this Lower Lagoon area. Not to mention the sandy white beach directly across from this home. There's a King master ensuite on the first floor along with the kitchen, dining and living area, the laundry room and a half bathroom. Off of this is a door leading to an outdoor oasis. A heated optional pool with a lounge area and high top dining area. Upstairs is an additional Master King ensuite with a large balcony with views of the Gulf, 2 more bedrooms, bathroom and a bunkroom rounds out the upstairs area. This home has a strong rental history and great reviews. It's being sold furnished. Its sister property, identical in layout, 2 doors down is listed for sale as well.

5516 Gulf Drive, Panama City

$1,499,000

4 Beds ⋅ 4 Baths ⋅ 794028 MLS

First time to hit the market, 4 bedroom(plus bunk room) RENTAL POWERHOUSE on the highly sought after East End. One home off the water on a stretch of beach not overrun with condos. Owners, investors and tourists/guests LOVE this area for that exact reason. Schooners is on Gulf Dr- a 6 min walk, St Andrews State Park is 1 mile away, and the some of the beach's very best restaurants are concentrated in this Lower Lagoon area. Not to mention the sandy white beach directly across from this home. There's a King master ensuite on the first floor along with the kitchen, dining and living area, the laundry room and a half bathroom. Off of this is a door leading to an outdoor oasis. A heated optional pool with a lounge area and high top dining area. Upstairs is an additional Master King ensuite with a large balcony with views of the Gulf, 2 more bedrooms, bathroom and a bunkroom rounds out the upstairs area. This home has a strong rental history and great reviews. It's being sold furnished. Its sister property, identical in layout, 2 doors down is listed for sale as well.

5500 Gulf Drive, Panama City

$975,000

4 Beds ⋅ 5 Baths ⋅ 793872 MLS

This limited collection of vacation homes offers an exceptional opportunity to own in one of the area's most sought-after locations -- literally across the street from the sugar-white sands and shimmering Gulf waters. This home showcases spacious, open-concept designs with 4 bedrooms, 4.5 baths, and a bunk room. Enjoy high-end finishes, stylish coastal architecture, and your own private pool -- the ultimate spot for relaxing or entertaining after a day at the beach. Expansive covered porches invite you to take in stunning sunrises and sunsets in true coastal style. Close to popular restaurants (walk to Schooner's), shops, golf courses, and water activities, this community also offers convenient access to Panama City proper and the Northwest Florida Beaches International Airport.

5231 Thomas Drive, Panama City Beach

$1,875,000

8 Beds ⋅ 10 Baths ⋅ 793352 MLS

NO RENTAL RESTRICTIONS!!! This limited collection of vacation homes offers an exceptional opportunity to own in one of the area's most sought-after locations -- literally across the street from the sugar-white sands and shimmering Gulf waters. This home showcases spacious, open-concept designs with 4 bedrooms, 4.5 baths, and a bunk room. Enjoy high-end finishes, stylish coastal architecture, and your own private pool with a temperature control system -- the ultimate spot for relaxing or entertaining after a day at the beach. Expansive covered porches invite you to take in stunning sunrises and sunsets in true coastal style. Close to popular restaurants (walk to Schooner's), shops, golf courses, and water activities, this community also offers convenient access to Panama City proper and the Northwest Florida Beaches International Airport.

5231-5233 Thomas Drive, Panama City Beach

$950,000

4 Beds ⋅ 5 Baths ⋅ 793129 MLS

This limited collection of vacation homes offers an exceptional opportunity to own in one of the area's most sought-after locations -- literally across the street from the sugar-white sands and shimmering Gulf waters. This home showcases spacious, open-concept designs with 4 bedrooms, 4.5 baths, and a bunk room. Enjoy high-end finishes, stylish coastal architecture, and your own private pool with a temperature control system -- the ultimate spot for relaxing or entertaining after a day at the beach. Expansive covered porches invite you to take in stunning sunrises and sunsets in true coastal style. Close to popular restaurants (walk to Schooner's), shops, golf courses, and water activities, this community also offers convenient access to Panama City proper and the Northwest Florida Beaches International Airport.

5233 Thomas Drive, Panama City Beach

$1,155,500

4 Beds ⋅ 4 Baths ⋅ 789061 MLS

Luxury Gulf-View STR Investment Retreat with a Private Pool & 20 steps to Beach access. Opportunities this close to the Gulf with this level of walkability, capacity, and rental appeal are limited. Prime Location. High STR Demand. Direct Gulf access with Private Pool. Investment-Grade Coastal Living. This is as close as you get to having the BEST of the BEST compared to any other. This exceptional 4BR/3.5BA Gulf-View coastal retreat offers a rare blend of refined beach living and high-performing investment potential--just 20 steps from the sugar-white sands and emerald waters of the Gulf. Welcome to a luxury property designed for those who expect more: Privacy, Proximity, and more return on lifestyle and short-term rental investment income potential. What truly sets this property apart is its rare proximity to the sandy Beaches--guests can step out the door and be on the beach in seconds. Combined with panoramic Gulf views, outdoor dining spaces, and a highly desirable layout, this home consistently checks the boxes that will drive higher nightly rates, strong occupancy, and repeat bookings. - Perfect vacation rental appeal with accommodations for up to 12 guests comfortably. - 20 Steps away from beach access (#8) with direct Gulf Views - Private pool with LED lighting at night (seasonally heated) - Walkable to beachfront dining including Schooner's beachfront Restaurant. - Minutes to St. Andrews State Park, Shell Island excursions, incredible dining, entertainment & all that Panama City Beach and 30a has to offer. - Strong appeal for short-term rental investors, second-home buyers, or luxury vacation ownership - Parking for up to 4 vehicles Designed for comfort, scale, and seamless indoor-outdoor living, this three-level home offers multiple entertaining zones, private retreats, and elevated Gulf-facing outdoor spaces. FIRST FLOOR: Entertain & Unwind A spacious open-concept layout anchors the home, featuring a large living area, dining space, and a fully equipped kitchen designed for hosting and comfort Ground-floor bedroom suite with private pool access. Full bath with dual access (guest + ensuite). Expansive laundry room with owner lockout storage. Direct access to private fenced pool, grilling, and lounge area. SECOND FLOOR: Elevated Comfort Primary Suite with king bed, Gulf-facing balcony, dual walk-in closets, a large ensuite bath with a spa-inspired jacuzzi bath featuring soaking tub, and separate walk-in tiled shower. Additional guest bedroom with bunk configuration (ideal for maximizing occupancy and rental revenue), full ensuite bath with abundant storage throughout. THIRD FLOOR: Premium Experience Level A standout feature for both lifestyle buyers and rental performance: Oversized 3 bunk suite + sleeper sofa. A mini wet bar and a mini fridge for convenience and entertaining. Expansive Gulf-View Terrace designed for sunset dining and elevated outdoor living. This upper-level balcony delivers the ''million-dollar view'' experience--panoramic Gulf vistas, coastal breezes, and unforgettable sunset exposures that will drive both guest satisfaction and repeat bookings. Morning coffee with ocean air. Afternoons by the pool or on the sandy Beach. Evenings defined by Gulf-Front sunsets painted in vivid coastal hues. This is more than a home--it's a fully immersive coastal asset designed to generate both memories and measurable returns.

5416 Gulf Drive, Panama City Beach

$1,399,000

4 Beds ⋅ 4 Baths ⋅ 787812 MLS

Gulf views, directly across from the beach AND beach access--5518 Gulf Drive offers the ideal blend of location, space, and flexibility, making it ideal as second home rental investment, with the benefit of no HOA. Situated on a large corner lot on the east end of Panama City Beach, this home is designed with both comfort and functionality in mind. Newer construction and featuring a spacious living and kitchen area that opens to a private pool and a large patio with both covered and uncovered spaces--perfectly blending indoor and outdoor living for easy gathering and entertaining.The thoughtful layout includes two primary suites, along with two additional bedrooms with en suite baths, and 2 sets of full bunks - enhancing it's versatility to host large groups without sacrificing privacy. The private pool makes this a true vacation-style setting, while the front porch and expansive second-floor deck offer additional outdoor living spaces to enjoy Gulf views and coastal breezes. The corner lot provides ample parking--a rare and valuable feature this close to the beach. With short-term rentals allowed, a highly functional floor plan, and a location just moments from the sand, this property presents an exceptional opportunity to own your piece of paradise at the beach!

5518 Gulf Drive, Panama City

$1,399,000

4 Beds ⋅ 4 Baths ⋅ 999040 MLS ⋅ 2,414 SqFt.

Gulf views, directly across from the beach AND beach access--5518 Gulf Drive offers the ideal blend of location, space, and flexibility, making it ideal as second home rental investment, with the benefit of no HOA. Situated on a large corner lot on the east end of Panama City Beach, this home is designed with both comfort and functionality in mind. Newer construction and featuring a spacious living and kitchen area that opens to a private pool and a large patio with both covered and uncovered spaces--perfectly blending indoor and outdoor living for easy gathering and entertaining.The thoughtful layout includes two primary suites, along with two additional bedrooms with en suite baths, and 2 sets of full bunks - enhancing it's versatility to host large groups without sacrificing privacy. The private pool makes this a true vacation-style setting, while the front porch and expansive second-floor deck offer additional outdoor living spaces to enjoy Gulf views and coastal breezes. The corner lot provides ample parking--a rare and valuable feature this close to the beach. With short-term rentals allowed, a highly functional floor plan, and a location just moments from the sand, this property presents an exceptional opportunity to own your piece of paradise at the beach!

5518 Gulf Dr, Panama City Beach

$999,000

4 Beds ⋅ 4 Baths ⋅ 786911 MLS

Gulf-View Coastal Retreat | Prime Investment + Luxury Living Welcome to your private tropical oasis--this beautifully updated and professionally designed home offers stunning Gulf views, exceptional indoor-outdoor living, and outstanding short-term rental potential in one of the most desirable areas along Thomas Drive. Thoughtfully curated with high-end finishes, lush landscaping, and inviting entertaining spaces, this property is built to impress both owners and guests alike. The open-concept living, dining, and kitchen area on the second floor is filled with natural light and flows seamlessly onto a spacious balcony--perfect for taking in Gulf views and coastal breezes. With two master suites plus two additional generously sized bedrooms, this home comfortably accommodates large groups, maximizing occupancy and rental income. The first-floor master suite features a private entrance and lock-out capability, creating the ideal setup for a separate rental unit or flexible guest quarters--an investor's dream for dual-income potential. Step outside to your own fenced backyard retreat, complete with a 7-person hot tub, designed for relaxation and memorable guest experiences that drive repeat bookings and top-tier reviews. Located just steps from the beach and minutes from dining, entertainment, and outdoor adventure--including St. Andrews State Park--this home offers the perfect balance of privacy and accessibility in a high-demand vacation market. Investment Highlights: • Strong Airbnb / VRBO income potential • Flexible lock-out floor plan for multiple revenue streams • Gulf views + walkable beach access (premium nightly rates) • Turnkey condition--ideal for immediate rental or personal use • Located in a proven high-demand vacation rental corridor. Whether you're looking for a high-performing investment or a luxurious coastal escape, this property truly offers the best of both worlds. (Buyer to verify all information and dimensions deemed important.)

5522 Thomas Drive, Panama City

$1,400,000

781204 MLS

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

5518 Thomas Drive, Panama City Beach

$1,400,000

781168 MLS

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

5518 Thomas Drive, Panama City Beach

$945,000

4 Beds ⋅ 5 Baths ⋅ 779080 MLS

Luxury 3-Story GULF VIEW BEACH HOME with Heated Saltwater Pool - PLUS a $10,000 Buyer Credit at Closing! Turnkey STR | Short-Term Rentals allowed | NO HOA | NO Flood Zone | Prime Location Attention Investors, Families & Beach Lovers! Just two blocks from the sugar-white sands of Emerald Beach and Rick Seltzer Park, this 3-story coastal beauty blends luxury, comfort, and high rental potential into the perfect beachside escape. With no HOA, no Flood zone, and full turnkey furnishings, this home is a rare find designed for both lifestyle enjoyment and income generation. PROPERTY HIGHLIGHTS: • 4 Bedrooms + Bonus/Game/Bunk Room | Sleeps 15 (or 29 w/ sister home next door also for sale) • 3 Ensuite Baths + 2 Half Baths • Private Heated Saltwater Pool (with optional heating) + Tropical Outdoor Oasis • Multiple Balconies with Gulf Views • Open-Concept Main Floor with 10' Ceilings, Crown Molding & LVP Floors • Chef's Kitchen with Stainless Appliances & Seating for 10-12 • Parking for 4 Vehicles + Golf Cart Friendly • Hurricane Windows, Hardie Siding & Metal Roof for lasting durability First Floor: - Primary Poolside Master Suite w/ King Bed, Twin Bunk Nook, Double Vanity Ensuite & Direct Pool Access - Bonus Bunk/Closet Room with Mounted TV - Spacious Living Room & Dining for 8+ (extra bar seating) - Chef's Kitchen - Laundry Room | Guest Half Bath Second Floor: - 2nd Master Suite w/ King + Queen + Single Nook, Private Balcony & Ensuite - Bedroom 3: Two Queens + Ensuite Bath + Gulf View Balcony Third Floor: - Bedroom 4 & Bonus Game Room: Bunks, Twin, Queen Bed, Wet Bar, Smart TV, Arcade Games - Private Gulf View Balcony + Half Bath WHY YOU'LL LOVE IT: -Steps to Beach Access #7 - walk to sand, surf, dining & attractions. -Relax in your heated saltwater pool oasis w/ gas grill & matching patio sets. -Entertain on multiple balconies with sparkling Gulf Views. STR Rental Revenue and GRI Actuals for 2024 & 2025 are available upon request. High-yield income opportunity! SLEEPS 15 -- Purchase alone or as part of a 2-home portfolio package (sleeps 29 combined) A True Coastal Masterpiece! Whether you're seeking a personal beach retreat, a vacation rental powerhouse, or a multi-home investment portfolio, this property delivers. Relaxed, roomy, stylish, and vacation-lifestyle ready -- all just two blocks from the Emerald Coast. Luxury. Location. Lifestyle. This one has it ALL!

5310 Thomas Drive, Panama City Beach

Gulf Lagoon Beach Homes with False Waterfront

Newest Gulf Lagoon Beach Homes with False Waterfront