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Harrison Lilly Team

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

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1014 Mercedes Ave , Panama City, FL 32401
$260,000
Est. Payment: $1,436.46/mo
2.5 Acres
Status: Active | Days on site: 144
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BHR1 - B0611,B11792
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Harrison Lilly Team
Owner/Operator

House Description

HUGE INVESTMENT POTENTIAL!! Positioned in a prime location in the heart of Panama City, this exceptional 2.5-acre corner parcel offers unlimited potential for developers, investors, and business owners alike. Located in an opportunity zone. Zoned Mix Use 3, the property is ideally suited for medium to high-density residential development combined with professional offices, educational facilities, and low-intensity neighborhood commercial uses. Multifamily development opportunities allow for up to 20 units per acre, creating incredible possibilities for apartments, townhomes, mixed-use concepts, or a live/work community. Extensive due diligence has already been completed, including an environmental/ecological site assessment, GEO-technical engineering report, boundary and topographical survey, and wetland survey--saving valuable time and expense for future development. With its highly visible corner location, strong development flexibility, and convenient access to shopping, dining, medical facilities, and major thoroughfares, this parcel is perfectly positioned for growth and long-term value. Whether you are looking to develop multifamily housing, professional office space, educational facilities, or a mixed-use investment project, this property presents a rare opportunity in one of the area's most desirable and rapidly growing locations. All measurements and items of importance are to be confirmed by buyer or buyer agent.

Highlights

Listed by Patrick D Pate , 850-381-7273 and Kay H Pate , 205-382-0647 Beach Haven Realty , 770-596-6599. Bay County Association of REALTORS

Property Type

Vacant Land

Lot/Acreage
2.5

County

Bay

Area

02 - Bay County - Central

Neighborhood

No Named Subdivision

Listing ID

789657

Questions about this listing?

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Interior Features

Exterior Features

Zoning:Resid Single Family, Resid Multi-Family, City, Business
Principal Interest
$1,436
Taxes
$166

Home Price

$260,000

Loan Details

30 yrs
7.374%

Down Payment

20%
$52,000
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:
$1,436.46

Principal

Taxes

Principal Taxes HOA Total
Monthly $1,436.46 $165.75 $0.00 $1,602.21
Yearly $17,237.55 $1,989.00 $0.00 $19,226.55
Total $517,126.52 $59,670.00 $0.00 $576,796.52

Today's Rates

30 Year

7.37%

20 Year

7.27%

15 Year

6.8%

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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: 2026-10-07T08:07:44.000Z

© 2026 Bay County Association of REALTORS