Description
Prime development opportunity in Panama City. This parcel allows for residential development with current zoning supporting up to 10 units per acre, with a maximum potential of approximately 51 units (subject to buyer's verification).Additionally, the property may qualify for increased density under Florida's Live Local Act, which can allow for significantly higher density when developing qualifying affordable or workforce housing projects, subject to local approvals and compliance requirements.The site may also be eligible for incentives under the Low-Income Housing Tax Credit (LIHTC) program, offering potential tax advantages for developers.Strategically located near key roads, employment centers, and growing residential demand, this property presents a compelling opportunity for builders and investors.Buyer to verify zoning, density, utilities, and eligibility for all incentives.
Details
| MLS # | A11989551 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 230 |
| Listing Provided By | United Realty Group Inc | Damaso D Medina |
Features
| Zoning | MU-2 |
|---|---|
| Acreage | 5.11 |
Exterior
| Lot Features | Five To Ten Acres, Central Business District, City Lot |
|---|
Taxes
| Tax Annual Amount | 6650 |
|---|
Location
| Community Features | Near Schools |
|---|
Area Information
| State | FL |
|---|---|
| County | Bay |
| City | Panama City |
| Area | 5940 Other Florida County |
| Subarea | Other |
| Listing VS Median (in ) | |
Price: $780,000 low | high Med: $240,000 On site: 230 low | high Med: 66 | |
Market Activity
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Learn More About This Property
| State | FL |
|---|---|
| County | Bay |
| City | Panama City |
| Area | 5940 Other Florida County |
| Subarea | Other |
| Listing VS Median (in ) | |
Price: $780,000 low | high Med: $240,000 On site: 230 low | high Med: 66 | |