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$ 549,000
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641 Malaga PL Panama City Beach, FL 32413
3.69 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Residential
Listing Status Active
Purchase Type For Sale
Subdivision Sand Dollar Estates
MLS Listing ID 795231
HOA Y/N No
Annual Tax Amount $9
Tax Year 2025
Lot Size 3.690 Acres
Acres 3.69
Property Sub-Type Residential
Property Description
ATTENTION FLORIDA INVESTORS & DEVELOPERS -- 3.69± ACRES NEAR THE BEACH, PIER PARK & PIRATES VOYAGE
ATTENTION FLORIDA INVESTORS AND DEVELOPERS! Here is an opportunity to secure approximately 3.69 contiguous acres in one of Panama City Beach's quickly growing corridors--less than one mile from the beach and near Pier Park, Panama City Beach Parkway and Dolly Parton's Pirates Voyage Dinner & Show.
Three adjoining parcels are being offered together for $549,000. The property has a Residential future land-use designation and current Bay County R-2 zoning, creating potential for a residential subdivision, townhome community or other residential development concept, subject to governmental approval and development requirements.
Here are the numbers: recent nearby 0.07-acre residential lots sold for approximately $52,500 to $55,000, averaging about $53,333 per lot. At a conservative future retail value of $50,000 per finished lot, a conceptual 26-lot development would represent approximately $1.3 million in gross lot sales. A conceptual 31-lot development would represent approximately $1.55 million, while 36 lots could represent approximately $1.8 million in gross sales.
These figures are illustrations only and are not representations of an approved lot count or guaranteed return. Actual yield and profitability will depend on zoning requirements, density, lot dimensions, access, roads, utilities, drainage, stormwater, wetlands, floodplain conditions, permitting and development expenses.
Develop now or hold while continued residential, commercial and tourism investment expands throughout the Panama City Beach corridor. Large contiguous tracts this close to the Gulf and major attractions are increasingly difficult to find. Portions of the property appear to be within FEMA Flood Zone A. Buyers should complete independent due diligence and verify zoning, allowable density, flood designation, wetlands, utilities and suitability for their intended use.
ATTENTION FLORIDA INVESTORS AND DEVELOPERS! Here is an opportunity to secure approximately 3.69 contiguous acres in one of Panama City Beach's quickly growing corridors--less than one mile from the beach and near Pier Park, Panama City Beach Parkway and Dolly Parton's Pirates Voyage Dinner & Show.
Three adjoining parcels are being offered together for $549,000. The property has a Residential future land-use designation and current Bay County R-2 zoning, creating potential for a residential subdivision, townhome community or other residential development concept, subject to governmental approval and development requirements.
Here are the numbers: recent nearby 0.07-acre residential lots sold for approximately $52,500 to $55,000, averaging about $53,333 per lot. At a conservative future retail value of $50,000 per finished lot, a conceptual 26-lot development would represent approximately $1.3 million in gross lot sales. A conceptual 31-lot development would represent approximately $1.55 million, while 36 lots could represent approximately $1.8 million in gross sales.
These figures are illustrations only and are not representations of an approved lot count or guaranteed return. Actual yield and profitability will depend on zoning requirements, density, lot dimensions, access, roads, utilities, drainage, stormwater, wetlands, floodplain conditions, permitting and development expenses.
Develop now or hold while continued residential, commercial and tourism investment expands throughout the Panama City Beach corridor. Large contiguous tracts this close to the Gulf and major attractions are increasingly difficult to find. Portions of the property appear to be within FEMA Flood Zone A. Buyers should complete independent due diligence and verify zoning, allowable density, flood designation, wetlands, utilities and suitability for their intended use.
Location
State FL
County Bay
Area 03 - Bay County - Beach
Interior
Fireplace No
Exterior
Utilities Available Sewer Available
Private Pool No
Building
Lot Description Paved
Schools
Elementary Schools West Bay
Middle Schools Surfside
High Schools Arnold
Others
Tax ID 37252-760-000
Special Listing Condition Listed As-Is
Listed by Performance Realty
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