$1,650,000
Panama City Beach, FL 32407
MLS# 633449
Status: Sold
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Property Description
25.64 acre Developer opportunity. Zoned Residential 3 (R3) Duplexes, Triplexes, Quadraplexes. The highest and best use is a 278 planned townhome unit development. Development order has expired and would need to be renewed by the new buyer. The site has 8.55 wetland acres and 17.09 upland acres. The current owner invested $1.589 million in water, sewer, and building permit fees; $230,439 in engineering, environmental, architectural design for development order, and $1.818 million for land improvements including building pads. The total cost of improvements is $3.638 million. The initial townhome development was designed for 278 townhomes that were 1,332 square feet each with one car garages (architectural renderings are available).
Details
Maps
Contract Info
Status: Sold
List Date: 2015-06-19
List Price: $2,200,000
Current Price: $1,650,000
List Price/Acre: 85803.43
Location
Street #: 300
Street Name: COVE VILLA
Street Suffix: Road
Area: 03 - Bay County - Beach
State: FL
Zip Code: 32407
County: Bay
Sub Area: 0321 - Beach - North Central
Subdivision: Emerald Cove Villas
Community/Resort: None
Parcel ID: 27539-000-000
Elementary School: Breakfast Point
Middle School: Breakfast Point
High School: Arnold
Directions: From PCB take US 98 (PCB Pkwy) eastbound to Wildwood Rd. When approaching Thomas Dr stay left (do not get on Thomas Dr flyover). From Panama City, take US 98 (PCB Pkwy) westbound toward PCB. After crossing Hathaway Bridge, move to the right-hand lane & proceed to Wildwood Rd. Wildwood Rd is just west of former K-Mart. Turn north on Wildwood Rd, property is 1/4 mile on west side of Wildwood Rd
Legal Description: 29 3S 15W -4- 57A BEG SE COR OF SE14 OF SE1/4 TH W 438' N 1315.6' E 438.7' S 1313.5' TO POB ORB 2834 P 1099
General Property Info
Sub-Type: Vacant Land
Lot Dimensions: 1319x879
Acreage: 25.64
Status Change Info
Under Contract Date: 2016-01-11
Sold Date: 2016-01-13
Sold Price: $1,650,000
Sold Price/Acre: 64352.57
Property Features
Financing: Cash; Conventional
Utilities: All Utilities; Community Sewer; Community Water; Electricity - Connected; Electric - 220/240; Natural Gas - Available; Natural Gas - Connected; Internet - Broadband Available; Phone - Connected
Supplements
The property is located approximately .1 of a mile north of Highway 98, on Wildwood Road. The subject currently fronts Wildwood Road which intersects Highway 98. Nearby uses include detached single family residential, high rise condominiums, significant commercial development at the intersection of Wildwood and Highway 98 including a Big Kmart and a CVS Pharmacy and vacant land. The subject property is in northeastern Panama City Beach, just west of Panama City, in Bay County, Florida. This area has experienced rapid and continuing growth over the past 5 years.
Listing Office: Counts Real Estate Group Inc
Last Updated: September - 30 - 2024
Information deemed reliable but not guaranteed.