For Sale: Beach View Commercial Property

Perfect site for hotel, apartments, multi-family, condos or mini-storage

FEATURES

  • 1.95 acres
  • Walking distance to the beach
  • Accessibility to SR 392A Hutchinson Blvd. (Middle Beach Rd.) and SR 30/US 98 (Front Beach Rd.)
  • Commercial High Density (CH) and Front Beach overlay Zone 2 designation and Tourist District (TD) land use classification
  • Flat, cleared and well-drained
  • Outside hurricane evacuation and storm surge zones
  • NOT in Flood Zone

PRICING

Currently priced at $1.5 million. The price includes all engineering and conceptual architectural work completed to date.

View LoopNet Listing:
http://bit.ly/615laurelstreet

PROPERTY HIGHLIGHTS

This 1.95-acre parcel on Laurel Street is in a highly desirable area and has great potential. With a Commercial-High Intensity (CH) zoning designation and a Tourist District (TD) land use classification, this property is perfect for a wide range of uses, such as a hotel, multi-family housing, apartments, condos or a mini-storage facility.
I originally entitled this site for a 32-36 condo development, but the market crash of 2006/2007 brought that to a halt. As an aside, many PCB REALTORS® are telling me the originally entitled, 3-story, ground-floor condos with garages, this close to the beach, would be a hit.
The east end of Panama City Beach is experiencing a significant boom. A Bay County company recently landed a multi-billion-dollar shipbuilding contract with the U.S. Coast Guard, adding jobs and income to the area. In addition, the Bay County Commission has approved a massive mixed-use development that will add thousands of single-family homes, a hotel, 160,000 sq.ft. of office space as well as a $40-50 million new sports park. Also in the news, the Panama City Port Authority (and WestRock) are doubling their cargo capacity with a 41-acre expansion and a second terminal, as well as a 100,000 sq.ft. expansion of their 150,000 sq.ft. distribution warehouse.
As development starts up again, now is a great time to grab a share of Panama City Beach. The town is seeing a wave of new development, including apartment complexes, residential subdivisions, three hotels and the first major Gulf-front tower to be approved since 2008. The cranes are coming back!

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Disclosure:  Information is believed to be correct but not guaranteed and subject to change without notice.

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