$260,000
Panama City, FL 32401
MLS# 789657
Status: Under Contract - Taking Backups
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Property Description
HUGE INVESTMENT POTENTIAL!! Positioned in a prime location in the heart of Panama City, this exceptional 2.5-acre corner parcel offers unlimited potential for developers, investors, and business owners alike. Located in an opportunity zone. Zoned Mix Use 3, the property is ideally suited for medium to high-density residential development combined with professional offices, educational facilities, and low-intensity neighborhood commercial uses. Multifamily development opportunities allow for up to 20 units per acre, creating incredible possibilities for apartments, townhomes, mixed-use concepts, or a live/work community. Extensive due diligence has already been completed, including an environmental/ecological site assessment, GEO-technical engineering report, boundary and topographical survey, and wetland survey--saving valuable time and expense for future development. With its highly visible corner location, strong development flexibility, and convenient access to shopping, dining, medical facilities, and major thoroughfares, this parcel is perfectly positioned for growth and long-term value. Whether you are looking to develop multifamily housing, professional office space, educational facilities, or a mixed-use investment project, this property presents a rare opportunity in one of the area's most desirable and rapidly growing locations. All measurements and items of importance are to be confirmed by buyer or buyer agent.
Details
Maps
Contract Info
List Price/Acre: 104000
List Type: Exclusive Right of Sale
Named Exception: No
List Date: 2026-05-08
List Price: $260,000
Current Price: $260,000
Sub-Type: Unimproved Commercial
Location, Tax & Legal
Sub Area: 0202 - Bay - Central SE
Community/Resort: None
Waterfront: No
Elementary School: Cherry Street
Middle School: Jinks
High School: Bay
Directions: Traveling on MLK Blvd., East on E. 11th St. the lot will be on your right on the corner of Mercedes Ave. and E. 11th St.
HOA Fee: No
Street #: 1014
Street Name: Mercedes
Street Suffix: Avenue
State: FL
Zip Code: 32401
County: Bay
Area: 02 - Bay County - Central
Subdivision: No Named Subdivision
Parcel ID: 16536-000-000
Legal Description: 4 4S 14W -76- 69A BEG 60' E OF NE COR OF BLK 1 GLENWOOD ADD TH S 330' EAST TO BAYOU NLY 330' M/L TO THE SLY R/W OF 11TH ST TH RUN WLY TO POB ORB 4505 P 2299
General Property Info
Acreage: 2.5
Lot Size (SqFt): 108900
Is Subject Leased: No
Remarks & Misc
Remarks: HUGE INVESTMENT POTENTIAL!!
Positioned in a prime location in the heart of Panama City, this exceptional 2.5-acre corner parcel offers unlimited potential for developers, investors, and business owners alike. Located in an opportunity zone.
Zoned Mix Use 3, the property is ideally suited for medium to high-density residential development combined with professional offices, educational facilities, and low-intensity neighborhood commercial uses. Multifamily development opportunities allow for up to 20 units per acre, creating incredible possibilities for apartments, townhomes, mixed-use concepts, or a live/work community.
Extensive due diligence has already been completed, including an environmental/ecological site assessment, GEO-technical engineering report, boundary and topographical survey, and wetland survey--saving valuable time and expense for future development.
With its highly visible corner location, strong development flexibility, and convenient access to shopping, dining, medical facilities, and major thoroughfares, this parcel is perfectly positioned for growth and long-term value. Whether you are looking to develop multifamily housing, professional office space, educational facilities, or a mixed-use investment project, this property presents a rare opportunity in one of the area's most desirable and rapidly growing locations.
All measurements and items of importance are to be confirmed by buyer or buyer agent.
Financing
Cash: 1
Conventional: 1
Lot Features
Cleared: 1
Corner Lot: 1
Survey Available: 1
Topographical Survey: 1
Lot/Parcel Access
City Road: 1
Paved Road: 1
Present Zoning
Business: 1
City: 1
Resid Multi-Family: 1
Resid Single Family: 1
Utilities
Sewer Available: 1
Sale Type
As Is: 1
TransportationAccess
2 - Lane: 1
City Road: 1
Paved: 1
Status Change Info
Status: Under Contract - Taking Backups
Under Contract Date: 2026-06-23
Property Features
TransportationAccess: 2 - Lane; City Road; Paved
Financing: Cash; Conventional
Lot Features: Cleared; Corner Lot; Survey Available; Topographical Survey
Sale Type: As Is
Utilities: Sewer Available
Present Zoning: Business; Resid Multi-Family; Resid Single Family
Listing Office: Beach Haven Realty
Last Updated: June - 24 - 2026
Information deemed reliable but not guaranteed.