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Harrison Lilly

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

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518 Bunkers Cove Rd , Panama City, FL 32401
$2,850,000
Est. Payment: $14,454.66/mo
4 Bed
5 Bath
4000 Sqft
Status: active | Days on site: 11
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VCR-C15903466 - VCR-C159091383,VCR-C159052275

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Harrison Lilly
Owner/Operator

House Description

Experience timeless elegance and waterfront serenity in this extraordinary Mediterranean-inspired estate, perfectly positioned on a sprawling bayfront lot. From the moment you arrive, the home's graceful arches, warm architectural details, and inviting courtyard create an unforgettable first impression, setting the stage for a lifestyle defined by beauty, comfort, and coastal charm. Inside, the residence unfolds with refined sophistication. A spacious living room anchored by a stunning fireplace opens to breathtaking bay views, creating the perfect setting for both relaxed evenings and elegant entertaining. The formal dining room showcases exquisite custom plaster-finished walls, offering a rich and artistic backdrop for memorable gatherings. At the heart of the home, the chef's kitchen is as functional as it is beautiful, featuring a striking brick accent wall, double ovens, a gas range, and an oversized island with a butcher block top. Sunlit and inviting, the eat-in kitchen overlooks both the tranquil koi pond and the sparkling bay beyond, seamlessly blending indoor and outdoor living. Just off the kitchen, a cozy sitting room with its own fireplace provides the perfect retreat for quiet mornings or intimate conversations. The thoughtfully designed split floor plan offers privacy and comfort, highlighted by a luxurious master suite that includes a rare original 1940 greenhouse feature, adding a touch of history and charm. The spa-like master bathroom invites relaxation with a large soaking tub, separate shower, and an expansive walk-in closet. Three additional bedrooms, each with their own full bathrooms, ensure comfort for family and guests alike, with one guest suite featuring its own fireplace for added warmth and character. A gallery-style hallway runs through the home, offering the perfect space to display art and personal collections. Outdoors, the property transforms into a true private oasis. Multiple water features, including a beautifully stocked koi pond, create a peaceful, resort-like atmosphere. The custom covered patio and pergola with an outdoor fireplace and built-in grilling area make entertaining effortless, while the expansive lawn stretches to the water's edge, complete with a seawall and direct bay access. Adding a sense of fun and uniqueness, the grounds also feature a zip line and a custom playhouse, making this estate as playful as it is luxurious. Blending classic Mediterranean architecture with modern comforts and unparalleled waterfront living, this one-of-a-kind property offers a lifestyle that is both elegant and unforgettable. Whether enjoying quiet sunsets over the bay or hosting gatherings under the stars, this home is a rare opportunity to own a true coastal masterpiece.

Highlights

Listed by Shani S Lee , 850-832-2151 CENTURY 21 Commander Realty , 850-769-8326. Bay County Association of REALTORS

Property Type

Residential

Lot/Acreage
0.8

Year Built

1940

County

Bay

Area

02 - Bay County - Central

Neighborhood

Sudduths 6th Add

Listing ID

791000

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:4
  • Bathrooms:5
  • Full Bathrooms:4
  • 1/2 Bathrooms:1
Appliances:Gas Range, Ice Maker, Tankless Water Heater
Air Cond:Central Air
Fireplaces:

Exterior Features

Lot:Sprinkler System,Paved
Lot Dimensions:134x269
Others:
  • Additional:Barbecue
Sewer:Public Sewer
Principal Interest
$14,455
Taxes
$1,817

Home Price

$2,850,000

Loan Details

30 yrs
6.529%

Down Payment

20%
$570,000
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:
$14,454.66

Principal

Taxes

Principal Taxes HOA Total
Monthly $14,454.66 $1,816.88 $0.00 $16,271.54
Yearly $173,455.95 $21,802.50 $0.00 $195,258.45
Total $5,203,678.42 $654,075.00 $0.00 $5,857,753.42

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