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    Panama City, FL Waterfront Land for Sale

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    Waterfront Class A Law Office
    Updated: Jan 1
    Waterfront Class A Law Office

    220 Mckenzie Avenue, Panama City, FL 32401

    $2,950,000
    10,157 sqft 1.10 AC lot
    10,157 SF, two‑story Class A law office building built in 1986 on 1.1 acres
    Adjacent to the Bay County Courthouse on Massalina Bayou (less than 300' up McKenzie Avenue)
    Masonry construction with brick veneer and large windows; includes extensive wood moldings, paneling, and trim
    Interior layout features 18 private offices, 2 conference rooms, law library, open office, administration workspace, breakroom, and reception
    Renovated in 2019 after Hurricane Michael with storm‑rated impact windows/doors, new roof, new HVAC, and new flooring
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    This listing looks promising.

    Here's a quick look at some key insights for

    220 Mckenzie Avenue, Panama City, FL 32401

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    • Est. Cap Rate

      4.3%
      NOI ÷ price

    • Est. NOI

      $128K
      Annual

    • Mortgage

      $1.28M
      Jun 2016

    • Last Sold

      Jul 2025
      $625K

    • Property Type

      Commercial Office (General)
      Built 1986
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    Gulf-Front Mixed-Use Land Parcel
    Updated: Mar 20
    Gulf-Front Mixed-Use Land Parcel

    5403 Gulf Drive, Panama City, FL 32408

    $1,820,000
    0.29 AC lot
    Prime Gulf‑front property on Panama City Beach
    Unmatched visibility and walkability due to its location directly beside public beach access #7
    Zoned mixed‑use, allowing for a wide range of development possibilities
    No HOA restrictions
    Cleared 0.29‑acre parcel ready for development
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    Waterfront Mixed-Use Development Land
    Waterfront Mixed-Use Development Land

    6135 E Highway 98, Panama City, FL 32404

    $500,000
    0.75 AC lot

    Waterfront land with mixed-use zoning, East Bay shoreline, and highway frontage for flexible residential or commercial concepts.

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    Entitled Waterfront Development Site
    Entitled Waterfront Development Site

    305 E BEACH DR, Panama City, FL 32401

    $4,500,000
    3.25 AC lot

    Entitled waterfront development land with an assignable development agreement for residential and marina uses along Massalina Bayou.

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    Turn Any Listing Into an Investment Snapshot Owner equity, real caprate, demand score for every listing. Go To Analytics Center
    Waterfront Mixed-Use Development Land
    Waterfront Mixed-Use Development Land

    6135 E Highway 98, Panama City, FL 32404

    $500,000
    0.75 AC lot

    Approximately 0.75-acre waterfront parcel with 90 feet of East Bay shoreline and Mixed-Use zoning.

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    Entitled Waterfront Development Site
    Entitled Waterfront Development Site

    305 E Beach Drive, Panama City, FL 32401

    $4,500,000
    3.25 AC lot

    Entitled waterfront development land with direct Massalina Bayou frontage and a recorded, assignable development agreement.

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    Waterfront Homesite in Gated Community
    Waterfront Homesite in Gated Community

    3536 Preserve Boulevard, Panama City, FL 32408

    $1,500,000
    0.83 AC lot

    Exceptional waterfront lot in Panama City Beach's exclusive gated community.

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    Waterfront Land in Panama City
    Waterfront Land in Panama City

    000 Plantation Drive, Panama City, FL 32404

    $699,000
    1.49 AC lot

    1.49-acre waterfront lot with direct water access, no HOA.

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    Entitled Waterfront Development Land
    Entitled Waterfront Development Land

    305 E Beach Drive, Panama City, FL 32401

    $4,500,000
    3.25 AC lot

    Entitled waterfront site with direct Massalina Bayou frontage and recorded, assignable development agreement in MU-3 zoning.

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    Entitled Waterfront Development Site
    Entitled Waterfront Development Site

    305 E Beach Drive, Panama City, FL 32401

    $4,500,000
    3.25 AC lot

    Entitled mixed-use waterfront land with direct Massalina Bayou frontage and recorded development agreement.

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    Waterfront Residential Land Lot
    Waterfront Residential Land Lot

    3046 W 30th Court, Panama City, FL 32405

    $230,000
    0.60 AC lot

    Waterfront lot with approximately 135 feet of shoreline and recent survey available for review.

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    Deep-Water Canal Homesite Land
    Deep-Water Canal Homesite Land

    1420 Trout Drive, Panama City, FL 32408

    $539,000
    0.20 AC lot

    Build-ready waterfront lot in Bay Point with utilities installed and a boat lift for direct deep-water access to the Gulf.

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    Waterfront Land with Gulf Access
    Waterfront Land with Gulf Access

    3030 W 27th Court, Panama City, FL 32405

    $620,000
    0.46 AC lot

    Build-ready waterfront land in Kings Point with direct Gulf access for quick trips to Shell Island.

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    East Bay Waterfront Recreational Land
    East Bay Waterfront Recreational Land

    10 5 S 12 W 1.2, Panama City, FL 32404

    $435,000
    43.50 AC lot

    43.5 acres with 823 feet of East Bay frontage.

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    Waterfront Land in Panama City, FL
    Waterfront Land in Panama City, FL

    1248 W Beach Drive, Panama City, FL 32401

    $695,000
    0.47 AC lot

    Waterfront land to build your dream home with stunning views.

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    Waterfront Residential Lot
    Waterfront Residential Lot

    3046 W 30th Court, Panama City, FL 32405

    $230,000
    0.60 AC lot

    Residential waterfront lot with 135 feet of frontage and recent survey available for review.

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    Waterfront Homesite on Laird Point
    Waterfront Homesite on Laird Point

    1000 Spirit Sail Court, Panama City, FL 32404

    $149,900
    0.34 AC lot

    Cleared waterfront lot with deep water access and community amenities.

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    Waterfront Development Land with Dock
    Waterfront Development Land with Dock

    1442 W Park Drive, Panama City, FL 32404

    $695,000
    2.03 AC lot

    Waterfront land offering six platted home sites and a 225-ft dock on an over-two-acre shoreline parcel.

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    Waterfront Land with Deep-Water Dock
    Waterfront Land with Deep-Water Dock

    141 Blackshear Drive, Panama City, FL 32404

    $775,000

    Deep-water waterfront lot with a newly built dock system, utilities to the site, and redesigned seawall.

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    Waterfront Residential Land with Bay Access
    Waterfront Residential Land with Bay Access

    1108 W Beach Drive, Panama City, FL 32401

    $1,099,000
    1.18 AC lot

    Single-family zoned, street-to-street waterfront homesite with deeded Bay access, 132 feet of frontage, and no HOA.

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    Waterfront Land in Massalina Bayou
    Waterfront Land in Massalina Bayou

    507 Massalina Drive, Panama City, FL 32401

    $125,000
    0.13 AC lot

    Deep wooded waterfront lot in Panama City's Cove area.

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    Waterfront Lot in Panama City
    Waterfront Lot in Panama City

    Hwy 2297, Panama City, FL 32404

    $500,000
    1.67 AC lot

    Spacious waterfront lot with Gulf access in East Bay.

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    Waterfront Land Ready For Building
    Waterfront Land Ready For Building

    6416 Marvin Lane, Panama City, FL 32409

    $135,000
    0.27 AC lot

    Vacant waterfront land with boating access near shopping and dining.

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    Waterfront Homesite with Day Dock
    Waterfront Homesite with Day Dock

    1150 Cove Pointe Drive, Panama City, FL 32401

    $101,500
    0.20 AC lot

    Build a custom residence on a quiet interior homesite in the Cove Pointe waterfront community.

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    Panama City, FL Waterfront Land Market Trends and Statistics

    Explore 96 waterfront land for sale in Panama City, FL, showcased through 96 active listings on our real estate platform. These investment opportunities span a total of 10,157 square feet of properties for sale, with an estimated market value of $2,950,000.

    Sale prices for water rights properties in Panama City, FL start at $2,950,000, averaging $2,950,000, and reaching up to $2,950,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Commercial land 241
    Residential land & home lots 136
    Waterfront Land 104
    Industrial land 12
    Recreation land 12

    Demographics Overview

    Population 154K
    Population Growth (5Y) +1,132.7%
    Median Household Income $71,237
    College Educated 29.8%

    High-Yield Neighborhoods for Investment

    Identify Panama City submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    Panama City $726.3K
    Panama City Beach $3.3M

    Taxes & Financing

    Tax Rate (average for all types) 1.42%
    Property Tax per SF $28.37 per SF
    Tax Rate vs County Average 0.07 pp above county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Bay County

    New Delisted

    Total CRE Inventory on Market (SF)

    Average Property Price per SF

    For-sale pricing trends across core commercial property types in Bay County

    Residential Income

    Property Size Breakdown

    The majority of commercial real estate listings in Panama City fall within the 1 to 5 acres range.

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    Most Searched ZIP Codes in Panama City, FL

    • 32404
    • 32401
    • 32409
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