5
See all 5 photos
$780,000
Est. payment /mo
5.11 Acres Lot
Active
W 12th St Panama City, FL 320401
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Key Details
Property Type Vacant Land
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID A11989551
HOA Y/N No
Annual Tax Amount $6,650
Tax Year 2025
Lot Size 5.110 Acres
Acres 5.11
Lot Dimensions 450x495
Property Sub-Type Multi Family
Property 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.
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.
Location
State FL
County Bay
Area 5940 Florida Other
Zoning MU-2
Exterior
Utilities Available None, Other, Sewer Not Available
Present Use Commercial,Hotel/Motel,Unimproved
Street Surface Paved
Private Pool Yes
Building
Lot Description 5-10 Acres
Sewer None, Other
Water Lake, Public, Other
Others
Tax ID 18663-000-000
Ownership Corporation
Virtual Tour https://www.propertypanorama.com/instaview/mia/A11989551
Listed by United Realty Group Inc