$999,000

RARE DOWNTOWN WATERFRONT DEVELOPMENT OPPORTUNITY WITH PANORAMIC WATER VIEWS! Located at 648 Florida Avenue in the heart of Panama City, this approximately 0.48-acre property offers canal frontage, scenic marsh views, and beautiful views toward St. Andrews Bay and Beach Drive. An exceptional opportunity for builders, developers, and investors seeking waterfront property with tremendous development potential! Panama City's Downtown District (DTD) zoning regulations offer significant development flexibility, including zero-foot minimum zoning setbacks, residential density allowances, substantial building height potential, and opportunities for qualifying development bonuses. Potential uses to explore include luxury single-family homes, subdivided homesites, townhomes, waterfront condominiums, multifamily apartments, boutique hotels, professional offices, retail, restaurants, or mixed-use development. DTD regulations provide for residential densities of up to 30 units per acre, potentially increasing to 60 units per acre with qualifying bonuses. District standards also provide for building heights up to 120 feet, subject to applicable restrictions and approvals. Potential subdivision opportunities, including an eight-homesite concept, may be explored with the City of Panama City. The property may also qualify for certain downtown redevelopment incentives, grants, or economic development programs, subject to eligibility and approval. Conveniently located near downtown dining, shopping, entertainment, and waterfront attractions. A RARE OPPORTUNITY TO EXPLORE THE POSSIBILITIES OF DOWNTOWN WATERFRONT DEVELOPMENT! All measurements, acreage, dimensions, and property information are approximate. Buyer to independently verify zoning, permitted uses, setbacks, density, building heights, subdivision potential, utilities, flood zones, environmental restrictions, development feasibility, and any available incentives with the City of Panama City and applicable authorities. No development plan, subdivision, unit count, or incentive is guaranteed or represented as approved.