9905/9909 Highway 79

Description

This is an excellent opportunity for future commercial development in Panama City Beach, Florida, less than a mile north of Latitude Margaritaville, a booming master-planned community by St. Joe, featuring 3,500 new construction homes as well as a Publix Super Market-anchored shopping center that has just broken ground. Two separate parcels are combined here (9909 & 9905), offering 1.78 acres of land and 335' of road frontage on Hwy 79, with AADT of 16,200. The Northwest Florida Beaches International Airport, ranked the 4th fastest growing airport in the United States, is a little over 3 miles to the east. The new Tallahassee Memorial Hospital complex is just 6 miles to the south, with the first building opened this past summer and a large campus planned over 87 acres. This property is zoned Village Center, which allows for a multitude of uses, including R-5 (Residential), C-1 (Neighborhood Commercial), C-2 (Plaza Commercial), C-4 (Research and Design), Public Institutional, Parks and Open Space, Civic use and others. Village Center zoning allows for 10 dwelling units per acre. The current owners also applied for and received a CUP approval for operation of a WAREHOUSE FACILITY. Buyer is encouraged to contact Bay County Planning and Zoning to verify all zoning information. 2 septic systems, 2 well houses, and 2 power poles exist on site, along with numerous RV hookups. FDOT has already approved an entrance from 79 to property. Soil borings and geotechnical reports have been completed for a warehouse and can convey. The county currently allows for up to 8 mobile homes, which presents an opportunity to offset holding costs until further development. Existing RV hookups and water connections are on site now, but RV park is not an allowable use. This is the perfect opportunity to seize a commercial development opportunity in a booming area! St. Joe is working with the county to develop an additional 1702 acres across the street, between this parcel and the airport. That development is proposed to offer an additional 3,300 residential units and 450,000 sq ft of commercial space. St. Joe is negotiating with county on how utilities will be run to their property, but that proposed development should be a great asset to this property.