1025 Highway 2297 Panama City, FL 32404

Property Details for 1025 Highway 2297

Lot size

257.00 lot acres

Property type

Commercial real estate

Description

Exceptional 257-acre waterfront development opportunity in Panama City, Florida, boasting 5,604 feet of navigable Cook's Bayou frontage and access to both East Bay and the Gulf of Mexico. This property features a diverse landscape of mature oaks, magnolias, and pines, with approximately 150 acres of uplands situated on a bluff overlooking the water. A significant portion of the uplands falls within Zone X, outside the 500-year flood zone. Zoned Conservation Habitation, the land allows for a density of 2 units per acre, yielding a potential of 514 units. Public water and sewer are available. The Cook's Bayou Bridge is slated for a height increase to 9'6" clearance. Development possibilities include an upland-cut marina with slips and residential docks, subject to permitting. The property's strategic location near Eastern Shipbuilding (recipient of a $10.5 billion US Coast Guard contract), 20 minutes from Tyndall AFB, and 1.5 miles from the Gulf Coast Parkway (part of the Florida Department of Transportation's 5-year plan to connect Highway 231 to Gulf County) presents significant long-term growth potential. This offering presents a rare chance to acquire a substantial tract of land with exceptional waterfront access and development potential in a rapidly growing area. Asking price: $8,000,000.