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    224 E 8 Ave Panama City, FL 32401

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    For Sale
    $250,000

    Five lots near downtown Panama City, ideal for development.

    Property Features for 224 E 8 Ave

    General Information

    Standard status
    Active

    Source: KELLER WILLIAMS SUCCESS REALTY Agent DENNIS NELSON

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Mixed-Use Land in Booming Panama

    This mixed-use property, comprised of five lots on a corner street with alley access, is located in revitalized Panama City, one block from the Downtown Social District. The area is experiencing improvements and becoming a tourist destination with restaurants, boutique shopping, special events, and offices. The property is zoned Mixed-Use 2, allowing for up to six units to be built. The site includes a 1936 3-bedroom, 2-bathroom home with a 2020 roof that needs updates. Additionally, there is a 20' x 28' concrete block garage facing the alley and a 22' x 38' concrete block building facing McKenzie Ave, both requiring repairs. The property is being offered at land value. Given the low number of vacation rentals near downtown, this property is a candidate for future income generation. The property is in Flood Zone X, meaning no flood insurance is required. A recent survey and zoning information are available.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Wholesale Shop Auto Repair Shop Clothing Store Gym & Fitness Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Panama City
    County
    Walton
    State
    Florida
    Longitude
    -85.6475
    Latitude
    30.1608

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    FAQs

    What type of property is this?
    Mixed-use property - Five lots near downtown Panama City, ideal for development.
    Where is this mixed-use property located?
    The property is located at 224 E 8 Ave Panama City, FL.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: - Prime location: Only one block from the Downtown Social District in revitalized Panama City.; - Mixed-Use zoning allows for building homes, townhomes, or a commercial business with up to 6 units.; - Great income potential due to the low number of vacation rentals near downtown.
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    Panama City, FL 32401
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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
    224 E 8 Ave Panama City, FL 32401
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