Prime development opportunity in Panama City. This parcel allows for residential development with current zoning supporting up to 10 units per acre, with a maximum potential of approximately 51 units (subject to buyer’s verification).
Additionally, the property may qualify for increased density under Florida’s Live Local Act, which can allow for significantly higher density when developing qualifying affordable or workforce housing projects, subject to local approvals and compliance requirements.
The site may also be eligible for incentives under the Low-Income Housing Tax Credit (LIHTC) program, offering potential tax advantages for developers.
Strategically located near key roads, employment centers, and growing residential demand, this property presents a compelling opportunity for builders and investors.
Buyer to verify zoning, density, utilities, and eligibility for all incentives.
W 12th St, Panama City, FL
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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