$8,000,000

LOCATION! LOCATION! LOCATION! Discover an exceptional opportunity with this 16.53-acre parcel situated at 401 N Kimbrel Avenue in the dynamic and developing Panama City, Florida. Boasting a prime location that is conveniently close to educational institutions, recreational areas, and vital employment hubs, including Tyndall Air Force Base, this site is ideal for developers looking to respond to the city's current and future housing needs. The property offers ample space for a significant multi-family residential project, with zoning classification R5-A, which allows for the construction of up to 25 residences per acre. The max allowable units in this location is 413. We are excited to welcome investors to the market for a development-ready project after Seller has completed the initial work and preparation. The potentially 400 door multifamily development has been cleared. The 16.5 acre parcel is situated along the major thoroughfare in the area, Highway22 and also connects to the main artery of the Bay County, Highway 98. All pre-development work and permits have been issued. The property is within a 30-minute drive to the sugary sands of the Panama City, Beach and offers various ecotourism opportunities. In a quick 15 minute drive, you will arrive to the revitalized Downtown Panama City, with its walkable shopping and waterfront dining venues. It lies within a strategic locale and is well-positioned outside the flood zone, making it a valuable find for a visionary development tailored to accommodate the influx of professionals and their households. This offering is a cornerstone opportunity to contribute to the area's resurgence with a development that captures the spirit of growth. This versatile plot stands ready for a transformative development that will cater to both civilian and military families, contributing to the rejuvenation of the community. Capitalize on the opportunities of Panama City by investing in a property that offers promising growth and profits. Buyers are encouraged to submit offers as they seek updated zoning to address their needs.