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    W 12Th St Panama City, FL 32040

    For Sale
    $780,000

    Multi Family - Panama City, FL

    Type:Multi Family
    Lot size:
    5.11 Acres
    Days on Market:
    152
    Last Refresh:
    Dec 8 at 3:06 pm

    Property Features for W 12Th St

    General Information

    Property type
    Land
    Property subtype
    Multi Family
    Standard status
    Active
    Zoning
    MU-2
    APN
    18663-000-000
    Lot size
    5.11 Acres

    Utilities

    Sewer type
    None, Other
    Water source
    Other, Public

    Building Details

    Architectural style
    Other

    United Realty Group, Inc (954) 450-2000 [email protected]

    Listing agent Damaso Medina (954) 450-2000 License #3082593

    Listing date Jul 10, 2025

    MLS# A11837641 Listing URL

    Copyright © 2025 Miami Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Panama City Multifamily Development Opportunity

    This 5.11-acre property in Panama City, Florida, presents an exceptional development opportunity. Zoned MU-2, the site allows for the construction of up to 51 multifamily units by right, with the potential for increased density under Florida’s Live Local Act. The property benefits from paved road frontage on W 12th Street and has utilities nearby. Its location offers close proximity to W 15th Street, a main commercial corridor that includes shopping, schools, and public transportation. Environmental and geotechnical studies have been completed, indicating no recognized environmental concerns. The site includes an existing natural pond and delineated wetlands for future planning purposes.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Panama City
    County
    Walton
    State
    Florida
    Longitude
    -85.659509
    Latitude
    30.169653

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    FAQs

    What type of property is this?
    Commercial land - 5.11-acre MU-2 zoned property suitable for multifamily development.
    Where is this commercial land located?
    The property is located at W 12Th St Panama City, FL.
    What is the asking price?
    The asking price for this property is $780,000.
    What are key features of this property?
    This property features: - 5.11-acre MU-2 zoned property allows building up to 51 multifamily units by right.; - Additional density possible under Florida’s Live Local Act.; - Located near W 15th Street, a main commercial corridor with shopping, schools, and public transportation.
    (954) 450-2000
    Request Owner's contact information
    W 12Th St Panama City, FL 32040
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    Panama City, FL 32040
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    W 12Th St Panama City, FL 32040
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