9905/9909 Highway 79

Panama City Beach, FL 32413
$750,000
1.78 acres | #766588
For Sale

Description

This is an excellent opportunity for future commercial development in Panama City Beach, Florida, less than a mile north of Latitude Margaritaville, a booming master-planned community by St. Joe, featuring 3,500 new construction homes as well as a Publix Super Market-anchored shopping center that has just broken ground. Plans call for the Watersound West Bay Center, which has the potential to include approximately 350,000 square feet of leasable space at build out, to feature a mix of retail, restaurant, office and medical space.St. Joe plans to bring an additional 3300 residential units and 450,000 sq ft of commercial space directly across Hwy 79.Two separate parcels are combined here (9909 & 9905), offering 1.78 acres of land and 335' of road frontage on Hwy 79, with AADT of 16,200. The Northwest Florida Beaches International Airport, ranked the 4th fastest growing airport in the Unites States, is a little over 3 miles to the east. The new Tallahassee Memorial Hospital complex is just 6 miles to the south, with the first building opened this past summer and a large campus planned over 87 acres.This property is zoned Village Center, which allows for a multitude of uses,including R-5 (Residential), C-1 (Neighborhood Commercial), C-2 (Plaza Commercial), C-4 (Research and Design), Public Institutional, Parks and Open Space, Civic use and others. Village Center zoning allows for 15 dwelling units per acre. The current owners also applied for and received a CUP approval for operation of a WAREHOUSE FACILITY. Buyer is encouraged to contact Bay County Planning and Zoning to verify all zoning information. 2 septic systems, 2 well houses, and 2 power poles exist on site, along with numerous RV hookups. FDOT has already approved an entrance from 79 to property. Soil borings and geotechnical reports have been completed for a warehouse and can convey.Previous owners also explored an RV park as a possible development. The county currently allows 8 RV hookups, and owners have previously rented those at $850/spot/mo, which presents an opportunity to offset holding costs until development. Existing RV hookups and water connections are on site now. This is the perfect opportunity to seize a commercial development opportunity in a booming area!
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  • Property Details
      • Lot description:Cleared, RvLot
      • Acres:1.78
      • Property type:Purchase
      • Sewer information:Septic Tank
      • Utility source:Well
      • Utility features:Electricity Available, Septic Available, Water Available
      • Subdivision:[No Recorded Subdiv]
      • Elementary School:West Bay
      • Middle School:Surfside
      • High School:Arnold
      • County:Bay
      • Days on Market (Cumulative):3
      • MLS #:766588
      • Cost:750000
      • Property subtype:Commercial
      • MLS #:766588

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Last Updated: . Source: CPAR

Listing Courtesy
Listing Agent: Richard Jabbour
Listing Office: Scenic Sotheby's International Realty

Bruce BushReal Estate Group
$
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Down Payment

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10.0%

Interest Rate

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6.0%

Tax Rate

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2.6%
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Estimated Monthly Payment
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Account

  • Roy F Furst

    Licensed Real Estate Broker

    Central Bay Realty

    Phone: (850) 257-5016

    Email: centralbayrealestate@gmail.com
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    IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.