$4,500,000
Panama City, FL 32401
MLS# 1006912
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Property Description
Pelican Pass at Massalina Bayou presents a rare opportunity to acquire an entitled waterfront development site in the heart of Panama City's waterfront district. The property consists of approximately 3.247 acres with 650 linear feet direct frontage on Massalina Bayou. Asking price of $4,500,000. The property benefits from a recorded and assignable Development Agreement providing vested rights for residential and marina development. Multiple development paths are supported, including attached residential/townhomes, detached single-family residential, multifamily residential and marina-oriented waterfront development. Zoned Mixed-Use 3 (MU-3) within the City of Panama City. The sale includes Bay County Parcel ID # 19528-000-000. ALTA/topographic survey, development agreement, existing conditions, townhome concept plans, draft plat, marina layout, single-family lot concept, construction/utility exhibits, seawall proposal and marina proposal. This reduces uncertainty and allows a buyer to immediately evaluate the project as a partially assembled waterfront development opportunity, not raw land.
Details
Maps
None
Current Price: $4,500,000
Status Change Info
Status: Active
Contract Info
List Date: 2026-07-01
List Price: $4,500,000
Listing Board: Emerald Coast
List Price/Acre: 1384615.38
Location Tax and Legal
Street #: 305
Street Direction: E
Street Name: Beach
Street Suffix: Drive
Area: 27 - Bay County
State: FL
Zip Code: 32401
County: Bay
Project Name/Subdivision: Pelican Pass
Parcel ID: 20154-000-000
General Property Info
Sub-Type: Vacant Land
Acreage: 3.25
Waterfront
Waterfront Feet: 650
Property Features
Lot Access: City Road; Paved Road
Lot Features: Addl Land Available; Cleared; Corner; Irregular; Soil Map; Survey Available
Zoning: Commercial; Resid Multi-Family; Resid Single Family; See Remarks
Waterfront: Bayou
Waterview: Bay; Bayou
Utilities: Electric; Gas - Natural; Gas Available; Lift Station; Phone; Public Sewer; Public Water; Sewer Available; TV Cable
Financing: Conventional
Listing Office: Counts Real Estate Group Inc
Last Updated: July - 03 - 2026
All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2026 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.