Moonspinner is three nine-story buildings on the Gulf at 4425 Thomas Drive, finished in 1981, holding 162 condos in all. It's the big complex you pass just before the road ends at St. Andrews State Park. Units here come in four shapes: two-bedroom flats, three-bedroom end units, two-story townhomes and six penthouses on the top level. If one is listed today, you'll see it in the MLS results above. Below is what I checked on the property itself.
View Moonspinner Condos for SaleCall or Text Roger: 850-596-5844
Weighing Moonspinner against other Thomas Drive buildings? My guide to Panama City Beach condos for sale lays out every building I cover by area, with what to check on HOA fees, rental rules, insurance and SIRS.
To the east sits St. Andrews Park Place, a 20-unit condo at 4421 Thomas Drive built in 1999. Past that, the land belongs to the state park. On the west side is Venture Out, the RV lot community at 4345 Thomas. The Commodore is roughly a quarter mile up the beach, and Treasure Island is about half a mile.
By car, Schooners is just under a mile, Seychelles is 0.9 miles, Regency Towers about 1.5 and Pelican Walk about 2.4. Pineapple Willy's is close to 5 miles, and Pier Park is almost 12 miles west, about 23 minutes in light traffic. If walking to shops matters most, look farther west. The surrounding area is Lower Grand Lagoon; here's what's for sale around Lower Grand Lagoon and along Thomas Drive.
Each building has six stacks on floors one through eight. Building C uses stack numbers 01 to 06, B uses 07 to 12 and A uses 13 to 18. Square footage below is from the county appraiser's roll.
One thing to watch on the penthouses: the county still describes PH4 as two bedrooms and two baths, but the rental office now advertises it as a five-bedroom after a rebuild down to the studs. When a unit's bedroom count has changed, ask for the permits and the appraiser's take before trusting it.
The association's own description says each building has no more than seven units on a floor, which is the townhome plus six flats.
The association's amenity page lists these, and a sample of current rental listings matches:
The association advertises 700 feet of beachfront. My own measurement of the county parcel outline comes to about 8.8 acres, with a lot of open lawn between the buildings and the dune. A public-records directory that tracks state pool inspections shows three permitted pools here (main, spa and wading), each marked satisfactory on January 14, 2026.
The association links to its own live stream from its website, so that's the one I've embedded here.
Open the Moonspinner beach cam on YouTube
Moonspinner has a rental office on site (850-234-8900). When I checked its booking website on October 8, 2026, it showed 86 Moonspinner units. Whether an owner may hire an outside manager instead is something to confirm in the association's documents.
The office's guest terms ask for a three-night minimum on advance bookings in peak season, and many owners go further and take Saturday-to-Saturday stays only. Some allow monthly winter renters from November through February or into mid-March. Whoever signs for the stay needs to be 25 plus, and guests younger than that can't book without a parent staying the whole time. Smoking and vaping are limited to designated spots on the north side of the property. These are the rental office's terms. The declaration and the association's rules govern what an owner can actually do, so get both before planning a rental calendar.
Because the property is outside city limits, the city's rental program doesn't apply. Ordinance 23-18 created the county's rental certificate, aimed at houses and buildings with one to four units, and towers like Moonspinner are exempt for now. You'll still need a DBPR transient license, either on the unit itself or through your manager, and every booking owes Florida sales tax plus Bay County's bed tax. That bed tax now goes to the Tax Collector; the Clerk handled it before October 1, 2026. My post on whether you can rent out a PCB condo goes deeper.
Pets. Guests can't bring pets onto the property at all. Certified ADA service animals are the exception, with shot records shown at check-in. I haven't seen the association's rule for owners' own pets, so dog owners should get that in writing first.
Vehicles. Guests register every vehicle with security. A two-bedroom stay gets two vehicles, and a three-bedroom stay gets three. Boats, wave runners, golf carts and motorcycles are allowed if space allows and count toward that limit, and they park in the second row on the east side. RVs, campers and travel trailers aren't allowed. If you fish or ride, ask how those rules apply to owners too.
Structural reports. Moonspinner hit 30 years old in 2011, so its first milestone inspection was due by the end of 2024. A public-records directory shows a SIRS on file for the association but no milestone record. Ask for the milestone report, the SIRS and the board's funding plan, and check with Bay County's building department since the city doesn't handle this address. My guide to milestone inspections and SIRS has the timeline.
Dues coverage. MLS data shown on a national listing site names management, insurance, cable, internet, phone, water, sewer, trash, pest control, grounds, structural maintenance, security and legal and accounting as covered. Power isn't on that list, and the rental office passes part of the electric bill to monthly guests, which points to each unit paying its own power. Confirm that with the association.
Flood zone. On FEMA panel 12005C0338J, effective October 24, 2024, the unit address points all fall in zone X, the minimal hazard area. The Gulf edge of the parcel crosses VE (base flood elevation 13 and 14 feet) and a strip of AE 13. Price your own HO6 and ask how the master policy treats flood. Here's my breakdown of flood zones on our coast.
Financing. Lenders look hard at a 1981 complex with an active rental desk, so get a loan officer who has closed here before. Some buyers end up needing a non-warrantable condo loan.
My general checklist on reserves, estoppels, insurance and rental statements is the same for every building, so I keep it in one place: buying a condo in PCB.
Decide early whether you want an end unit, a middle flat, a townhome or a penthouse, since each one prices differently. Tell me which, and which building letter you'd prefer, and I'll set a search that only sends you those. You can also browse the Moonspinner map search yourself.
Buyers here ask about the building letter and stack, whether the unit rents through the office downstairs and how much it grossed, and where the milestone report stands. Have a year of rental statements ready alongside any renovation details. Get a value estimate for your condo and I'll price it against recent Moonspinner closings in the same layout.
Not quite. St. Andrews Park Place, a 20-unit building, sits between Moonspinner and the park land.
162: 48 three-bedroom end units, 96 two-bedroom flats, 12 townhomes and 6 penthouses.
Not for rental guests. Ask the association for the owner pet rule.
No. It sits outside city limits, which means the county's rental rules apply.
Zone X at the buildings on the current FEMA map, with VE and AE closer to the water.
There's an on-site rental office. Ask the association whether an outside manager is allowed.
I'm Roger Rietsema with Allison James Estates & Homes, selling on this beach since 2003. Reach me at 850-596-5844 by call or text.
Checked October 8, 2026:
Rules, rental terms and dues change, so ask the association for current copies.
