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3100 Airport Rd - 50 Townhome Development Order & Entitlements

4.36 Acres of Residential Land Offered at $1,545,148 CAD in Panama City, FL 32405

Investment Highlights

  • Within a short distance of the highly sought-after University Academy.
  • The 8.5% cap rate underscores the strong income potential, making this an enticing opportunity for both seasoned and first-time developers.
  • Near proximity to the Bay, Publix, shopping centers, and Starbucks, offering easy access to essential amenities and lifestyle conveniences.
  • Located within 1/2 mile of a brand-new marina, offering recreational and lifestyle benefits for future residents.

Executive Summary

APPROVED 50 UNIT TOWNHOME DEVELOPMENT ORDER AND ENGINEERING IN PLACE!!! ]Discover Embrie Townhomes, an exciting future townhome development in Panama City, Florida right outside of Sweetbay. This development will have 50 three-bedroom, two-and-a-half-bathroom townhomes with garages and will be nestled on 4.369 acres of prime real estate. With an exceptional price point of $1.1 million, this development presents a compelling investment opportunity, with an estimated overall valuation projected to reach nearly $20 million. Unit comparable's are currently at $379K per unit. Embrie Townhomes will boast a prime location with multiple entrances, ensuring easy access and eliminating the need for road maintenance from FDOT. Additionally, a lift station conveniently located across the street from the proposed development provides enhanced convenience and infrastructure. The property already includes a home that can be utilized as a sales office, streamlining the sales process. Each townhome within Embrie Townhomes will offer approximately 1,300 square feet of living space, perfectly designed to strike a balance between comfort and luxury for residents. SweetBay's marina will allow you to take full advantage of the Bay and Intercostal waterway to the Gulf.

Property Facts

Price $1,545,148 CAD
Sale Type Investment
No. Lots 1
Property Type Land
Property Subtype Residential
Total Lot Size 4.36 AC

1 Lot Available

Lot

Price $1,545,148 CAD
Price Per AC $354,392 CAD
Lot Size 4.36 AC

50 Townhome Development order in place: a 4.36-acre parcel of prime real estate, perfectly positioned for a high-demand residential development. This property comes with all necessary approvals for the construction of 50 townhome units.

Description

Phase 1 of the 40-acre marina district will feature a 2-acre wet basin and 56,000 square foot dry storage boat barn and will serve as the only marina on North Bay. Civils for Embie Townhomes were skillfully planned and executed by McNeil Carroll, guaranteeing top-notch construction and development. The property is currently zoned as MU3 (mixed use 3) with county approval for 50 townhomes, providing a solid foundation for the project's success. Embrie Townhomes benefit from their proximity to the future marketplace of Sweet Bay, offering a vibrant retail, dining, and entertainment scene within walking distance. Enjoy convenient access to the pristine bay, perfect for water sports and scenic walks along the shore. Embrie also provides easy access to the thriving city of Panama City, renowned for its amazing bays leading to the Gulf, exceptional dining options, convenient shopping, and a newly revitalized downtown area. Don't miss out on this exceptional future townhome development. Embrace the anticipation of the coastal lifestyle offered by Embrie Townhomes, where luxury and convenience merge in Panama City, Florida. With its attractive pricing, significant valuation potential, prime location near Panama City, Panama City Beach and 30A, as well as reputable engineers overseeing the project, this development promises substantial returns. Secure this prestigious community and seize the potential for a prosperous future.

zoning

Zoning Code MU3 (MU3 Mixed Use - County Approval and DO in place for 50 townhomes)
MU3 (MU3 Mixed Use - County Approval and DO in place for 50 townhomes)
  • Listing ID: 32212782

  • Date on Market: 2024-06-21

  • Last Updated:

  • Address: 3100 Airport Rd, Panama City, FL 32405

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