Downtown Panama City Commercial
For Sale
$449,000
612 McKenzie Avenue, Panama City, FL 32401
Large commercial investment property in downtown Panama City's revitalization area.
Property SizeContact for details
Lot Size0.70 Acres
Days on Market720
Property Features for 612 McKenzie Avenue
General Information
Standard status
Active
Lot size
0.70 Acres
Property subtype
Land or Vacant Lot
Listing Agency:
COASTAL PALMS REAL ESTATE
(716) 912-1447
Listed By:
ELAINE G FENSTER · License #3419923
Source:
Corcoran
Added: Aug 17, 2024
Changed: Jul 6
Last Checked: Aug 6 at 3:54AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of COASTAL PALMS REAL ESTATE
Investment Insights
Based on property information with market context.
Located near downtown Panama City, this 0.70-acre commercial property at 612 McKenzie Ave presents a valuable investment opportunity within the downtown district. Zoned commercial DTD, the property aligns with the area's redevelopment vision, permitting diverse commercial and residential uses. The DTD zoning allows for a maximum density of 30 units per acre, potentially accommodating up to 21 units. Suited for investors seeking to capitalize on the downtown district's growth, the property can be developed into single or multi-family structures, bars, restaurants, professional offices, open-air retail spaces, cafes, lounges, and specialty food stores, fostering economic growth. Situated near the corner of 6th Street and McKenzie Ave, the oversized lot benefits from ongoing revitalization efforts. Current developments in the vicinity of 612 McKenzie Blvd enhance its desirability. The property's location within an 'Opportunity Zone' offers potential federal tax benefits on capital gains. This property is strategically positioned close to the hub of Panama City.
Key Highlights
- Prime downtown Panama City location in a rapidly revitalizing area
- Zoned DTD, allowing for diverse commercial and residential development options
- Potential for up to 21 units based on zoning density allowance
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,679
Businesses Nearby
Explore this area
Business Placement
Demographics for 32401, FL
20,487
Population
10,239
Households
2
Avg Household Size
42
Median Age
20%
College-Educated
86%
High-School Grad
12.5 sq mi
ZIP Area
1,639
Density / Sq Mi
$49,901
Median Household Income
$35,885
Median Earnings
$1,194
Median Rent
$207,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Large commercial investment property in downtown Panama City's revitalization area.
Where is this commercial land located?
The property is located at 612 McKenzie Avenue Panama City, FL.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Prime downtown Panama City location in a rapidly revitalizing area; Zoned DTD, allowing for diverse commercial and residential development options; Potential for up to 21 units based on zoning density allowance
