NO HOA! FINANCIAL POWERHOUSE! HEATED POOL! This prime beachside asset commands an Estimated Annual Gross Rental Revenue between $85,000 - $90,000. Designed for compounding returns, this revenue is projected to increase year-over-year. By capturing highly valuable repeat guests, you will maximize occupancy rates and secure a rapidly increasing ROI from day one. Full historical data (coming soon) and future projections are available upon request. This highly-rated VRBO property is in the top 10% of guest reviews for the area, with 139 reviews in total.

LUXURY COASTAL LIVING MEETS A LEGACY OF MEMORIES. This isn't just a beach house; it is a ''Love-Held'' sanctuary where generations have gathered to discover the very best of Northwest Florida. From the quiet shores of Cape San Blas to the historic charm of Pensacola, this home has served as the ultimate home base for family reunions and life-changing adventures. The current owners' children are reluctant to let it go--and for good reason. It has been a magical learning environment where the kids grew up alongside the Gulf, learning the pride of homeownership and the joy of coastal stewardship. While the family is ready to move on to their next chapter, they leave behind a home filled with soul and a foundation built for a lifetime of new traditions.

PRISTINE BEACHSIDE ELEGANCE JUST STEPS FROM THE SHORE. Located on the coveted beach side of Thomas Drive--just three lots off the emerald waters--this 2,934 (total sq. ft.) Tuscan-inspired residence offers breathtaking Gulf views from the third level. The interior is a masterclass in luxury, featuring 10-foot ceilings on the first floor, granite countertops, and high-end stainless appliances. Designed to sleep 10, the layout includes three large bedrooms plus two built-in bunk areas, ensuring plenty of space for everyone to spread out. With four covered balconies, two electric fireplaces for ambience/light only, a jetted master tub, every detail has been curated for comfort and sophisticated beach living.

YOUR PRIVATE OUTDOOR OASIS WITH UNMATCHED UTILITY. Step outside into your own private retreat featuring a gunite pool, recently upgraded with a new pump and filter (2022). This ''Twin Home'' attached single unit offers a rare advantage: a solid concrete divider wall that ensures absolute privacy and zero sound transfer between sides. Unlike most beach properties, parking is never an issue here. The expansive driveway accommodates up to 8 vehicles (4 side, 4 front), providing ample space to park your RV or boat right on the property--a true rarity so close to the Gulf.

A TURN-KEY, COMPLETELY FURNISHED INVESTMENT. Whether you are seeking a premier primary residence or a high-performing vacation asset, this property is being sold fully furnished and ready to deliver from day one. The home features a brand-new downstairs water heater (2024), and a newer upstairs HVAC. Perfectly positioned in the quieter area of Panama City Beach, you are just a short drive from the world-class dining and shopping of 30A, Destin, Mexico Beach and Port St. Joe, while remaining tucked away in a peaceful, highly flexible coastal pocket.

Just steps to the World's Most Beautiful Beaches is a beautifully furnished home ideal for a perfect beach vacation! This fully furnished 3 BR with extra Bunk Room, 2 bathroom beach house is located just 100 steps to the private beach access of Nancee Drive in the Thomas Drive area. The home offers a split bedroom floor plan with a King suite in the master bedroom, ensuite bathroom with tub/shower combination and a laundry room with washer/dryer. The opposite side of home has two additional bedrooms with a queen and a full bed, and a hallway bathroom including a walk-in shower. Bonus 4th room with bunk beds off the living room. The living room is comfortably furnished with a sleeper sofa and large smart TV. Plenty of seating at the dining room table for entertaining while cooking a homemade dinner in the fully equipped kitchen. This is a turn-key home ready for vacation rental or a second home on the highly south-after south side of Thomas Drive.

*Buyer to verify all information and measurements, if important*

WELCOME TO 3875 CAPE SAN BLAS RD (UNIT B-3), KNOWN AS ''THE HIDDEN PEARL.'' This North Cape 3-bed, 2.5-bath townhome offers a rare dual-waterfront experience. Wake up to vibrant St. Joseph Bay sunrises and enjoy spectacular Gulf sunsets. A turn-key 1,512-sqft (2,624 total) furnished retreat delivering the ultimate coastal lifestyle! FOR ANYONE WATCHING THE CAPE, THE MONUMENTAL 2026 BEACH RENOURISHMENT PROJECT IS A GAME-CHANGER. With fresh sand placed north of Stumphole, crews are installing eight submerged breakwaters to absorb wave energy and slow erosion, actively protecting the coastline and cementing the long-term value of your Forgotten Coast investment. THE LIFESTYLE ON THE CAPE IS UNMATCHED, OFFERING A PERFECT BLEND OF OLD FLORIDA TRANQUILITY AND OUTDOOR ADVENTURE. Scallop in the bay, explore nearby state parks, or take a scenic drive to Port St. Joe, Windmark, and Mexico Beach. Browse shops along Reid Street and enjoy local seafood at staples like Hunt's Oyster Bar. SOLD FULLY FURNISHED, THE HOME'S LAYOUT IS PERFECTLY OPTIMIZED FOR ENTERTAINING AND RELAXATION. The open living area flows onto a large screened porch. The fully stocked kitchen boasts bay views and a breakfast bar, while a dining area and half-bath complete the main floor. THE TOP FLOOR IS DEDICATED TO REST, FEATURING A MASTER SUITE WITH A KING-SIZE BED, A PRIVATE EN-SUITE BATHROOM, AND ACCESS TO A PRIVATE, OPEN SUNDECK. Enjoy elevated Gulf views and ocean sounds. A Bayside queen bedroom features a private bay-view balcony, while a third bedroom has a versatile duo bunk. They share a full bath. Covered parking included. AS A TURN-KEY PROPERTY CURRENTLY THRIVING, ''THE HIDDEN PEARL'' BOASTS A PROVEN, HIGHLY CONSISTENT REVENUE HISTORY. GRI: $76K in 2022, $46K in 2023, $56K in 2024, and $52K in 2025. 2026 YTD through mid-June has secured over $27K. Close to the beach without the beachfront price tag, blending personal enjoyment with reliable passive income!

WELCOME TO 3875 CAPE SAN BLAS RD (UNIT B-3), KNOWN AS ''THE HIDDEN PEARL.'' Located in the highly sought-after North Cape area, this 3-bedroom, 2.5-bathroom townhome offers a rare dual-waterfront experience. Here, you are close enough to the water to wake up to breathtaking, vibrant sunrises over St. Joseph Bay and end your evenings watching spectacular, unobstructed sunsets dip into the Gulf of Mexico. Whether you are looking for a private seaside retreat or a lucrative, turn-key addition to your portfolio, this 1,512-square-foot (2,624 sqft total) furnished beach townhome delivers the ultimate coastal lifestyle!

FOR ANYONE WATCHING THE CAPE, THE MONUMENTAL 2026 BEACH RENOURISHMENT PROJECT IS A GAME-CHANGER. Roughly 830,000 cubic yards of fresh, pristine sand has already been successfully placed along the shoreline just north of Stumphole, and crews are staging the rock for the final phase: eight strategically placed, submerged breakwaters. These innovative, nature-based structures are designed to hold the new sand on the beach much longer, absorb wave energy, and drastically slow natural erosion, actively protecting the coastline and cementing the long-term value of your investment on the Forgotten Coast.

THE LIFESTYLE ON THE CAPE IS UNMATCHED, OFFERING A PERFECT BLEND OF OLD FLORIDA TRANQUILITY AND OUTDOOR ADVENTURE. Spend your late summers snorkeling and scalloping in the shallow waters of the bay, or explore the nearby state parks renowned for their diverse wildlife, sea turtle nesting, and towering dunes. When you are ready to venture out, you are just a short, scenic drive from the historic charm of Port St. Joe, Windmark, and the beautiful coast of Mexico Beach. Spend afternoons strolling under coastal oaks, browsing the boutique shops along Reid Street, and capping off the evening with world-class local seafood at staples like Hunt's Oyster Bar.

SOLD FULLY FURNISHED, THE HOME'S LAYOUT IS PERFECTLY OPTIMIZED FOR ENTERTAINING AND RELAXATION. The spacious, open-concept living area on the main level flows seamlessly onto a large screened-in porch, creating the perfect spot to enjoy the coastal breeze. The fully stocked kitchen boasts fantastic bay views, plenty of prep space, and a convenient breakfast bar, while a large dining table and a half-bath complete this main entertaining floor.

THE TOP FLOOR IS DEDICATED TO REST, FEATURING A MASTER SUITE WITH A KING-SIZE BED, A PRIVATE EN-SUITE BATHROOM, AND ACCESS TO A PRIVATE, OPEN SUNDECK. This vantage point offers some of the most stunning, elevated views of the Gulf that you will ever find, allowing you to drift to sleep listening to the sound of crashing waves. Down the hall, the Bayside bedroom offers a queen bed and its own private balcony overlooking the calm waters of the St. Joe Bay, while the third bedroom features a versatile duo bunk (double bottom, twin top) to easily accommodate guests. These two rooms share a full hallway bathroom, and covered under-house parking provides ample space for your vehicle.

AS A TURN-KEY PROPERTY CURRENTLY THRIVING, ''THE HIDDEN PEARL'' BOASTS A PROVEN, HIGHLY CONSISTENT REVENUE HISTORY. Generating $76,000 in gross rental income in 2022 and $46,275 in 2023, the strong performance continued with $56,226 across 220 booked nights in 2024, and $52,678 over 208 booked nights in 2025. For the 2026 season year-to-date through mid-June, the home has already secured $27,143 across 100 nights. This is as close as you can get to the beach without the beachfront price tag, representing a seamless blend of personal enjoyment and reliable passive income, with all the modern upgrades!