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Harrison Lilly

Owner/Operator | Harrison Lilly Emerald Coast | Harrison Lilly Realty | PLACE

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2431 Game Farm Rd , Panama City, FL 32405
$690,000
Est. Payment: $3,499.55/mo
0 Bed
0 Bath
0 Sqft
Status: active | Days on site: 5
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VCR-C15903466 - VCR-C159091383,VCR-C159052275

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Harrison Lilly
Owner/Operator

House Description

Prime Multi-Family Development Opportunity - R2 Zoning | Approx. 1.92 Acres Exceptional investment and development opportunity in a growing area. This approximately 1.92-acre parcel is zoned R2 Multi-Family and allows up to 15 units per acre, supporting a potential development of up to 23 residential units (subject to final engineering, site plan approval, and municipal review). The property offers approximately 306 feet of frontage and features a favorable layout suitable for a townhome, apartment, or multifamily residential project. Preliminary conceptual planning demonstrates the potential for a 23-unit development with internal access, parking, landscaped common areas, and open space. Development-friendly zoning requirements include: • Front setback: 20 feet • Side setbacks: 5 feet • Rear setback: 10 feet • Multi-family residential use permitted Located in an area experiencing continued residential growth, this site provides an excellent opportunity for builders, developers, and investors seeking to capitalize on strong housing demand. Utilities availability, zoning regulations, density allowances, and development potential should be independently verified by purchaser. Rare opportunity to acquire a multi-family development site with conceptual plans already demonstrating the property's density potential. Bring your vision and unlock the value of this strategically positioned parcel. Buyer to verify all zoning, density, utility availability, permitting requirements, and development feasibility. Proposed site plan is AI Generated.

Highlights

Listed by Diane Rushing , 850-832-1718 Anchor Realty Florida , 850-899-7999. Bay County Association of REALTORS

Property Type

Multi-Family

Lot/Acreage
1.92

County

Bay

Area

02 - Bay County - Central

Neighborhood

Highland City

Listing ID

791909

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:0
  • Full Bathrooms:0

Exterior Features

Lot Dimensions:315 X 240 X 308.4 X 225
Zoning:Resid Multi-Family
Principal Interest
$3,500
Taxes
$440

Home Price

$690,000

Loan Details

30 yrs
6.529%

Down Payment

20%
$138,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$3,499.55

Principal

Taxes

Principal Taxes HOA Total
Monthly $3,499.55 $439.88 $0.00 $3,939.42
Yearly $41,994.60 $5,278.50 $0.00 $47,273.10
Total $1,259,837.93 $158,355.00 $0.00 $1,418,192.93

Today's Rates

30 Year

6.53%

20 Year

6.33%

15 Year

5.93%

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Market insight data is pulled from the same city as the listing being viewed (Panama City, FL).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by Bay County Association of REALTORS, and is deemed reliable but not guaranteed accurate.

IDX service by Blueroof 360

Data last updated: 2026-08-20T06:33:19.000Z

© 2026 Bay County Association of REALTORS