Address
641 Malaga Place, Panama City Beach, FL
Price
$ 549,000
Property Attributes
- MLS#795231
- TypeSingle Family
- Listing Status Active
- CountyBay
- CityPanama City Beach
- Area03 - Bay County - Beach
- NeighborhoodSand Dollar Estates
- Zip32413
- Style
- Taxes$ 9
- Price$ 549,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size3.69 Acres
Data Source:
Central Panhandle Association of REALTORS® (CPAR)
Property Description
ATTENTION FLORIDA INVESTORS & DEVELOPERS -- 3.69± ACRES NEAR THE BEACH, PIER PARK & PIRATES VOYAGE ATTENTION FLORIDA INVESTORS AND DEVELOPERS! Here is an opportunity to secure approximately 3.69 contiguous acres in one of Panama City Beach's quickly growing corridors--less than one mile from the beach and near Pier Park, Panama City Beach Parkway and Dolly Parton's Pirates Voyage Dinner & Show. Three adjoining parcels are being offered together for $549,000. The property has a Residential future land-use designation and current Bay County R-2 zoning, creating potential for a residential subdivision, townhome community or other residential development concept, subject to governmental approval and development requirements. Here are the numbers: recent nearby 0.07-acre residential lots sold for approximately $52,500 to $55,000, averaging about $53,333 per lot. At a conservative future retail value of $50,000 per finished lot, a conceptual 26-lot development would represent approximately $1.3 million in gross lot sales. A conceptual 31-lot development would represent approximately $1.55 million, while 36 lots could represent approximately $1.8 million in gross sales. These figures are illustrations only and are not representations of an approved lot count or guaranteed return. Actual yield and profitability will depend on zoning requirements, density, lot dimensions, access, roads, utilities, drainage, stormwater, wetlands, floodplain conditions, permitting and development expenses. Develop now or hold while continued residential, commercial and tourism investment expands throughout the Panama City Beach corridor. Large contiguous tracts this close to the Gulf and major attractions are increasingly difficult to find. Portions of the property appear to be within FEMA Flood Zone A. Buyers should complete independent due diligence and verify zoning, allowable density, flood designation, wetlands, utilities and suitability for their intended use.
| Elementary School | Middle School | High School |
|---|---|---|
| West Bay Elementary School | Surfside Middle School | Arnold High School |
| Price History | |
|---|---|
| 9/10/2026 | Listed $549,000 |
General Features
| Utilities | Sewer Available |
|---|---|
| Property Subtype | Residential |
| Tax Year | 2025 |
| County | Bay |
| Property Type | Land |
| HOA | false |
| Subdivision Name | Sand Dollar Estates |
| Special Listing Conditions | Listed As-Is |
| Status | Active |
| Directions | Head West on Highway 98 towards Inlet Beach. Take a right on Malaga, the property is on your left. |
| High School | Arnold |
| City | Panama City Beach |
| Zoning Description | Multi-Family, Resid Single Family |
| MLS Area | 03 - Bay County - Beach |
| Lot Size Units | Acres |
| Lot Size Square Feet | 160736 |
| Elementary School | West Bay |
| Tax Annual Amount | 9.61 |
| Middle/Junior High School | Surfside |
| MLS Area Minor | 0322 - Beach - North West |
| Standard Status | Active |
| Property Sub Type Additional | Residential,Unimproved Land |
Exterior Features
| Lot Features | Paved |
|---|---|
| Lot Size Area | 3.69 |
| Lot Dimensions | Irregular |
| Lot Size Acres | 3.69 |
| Waterfront Y/N | false |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in 32413
Price
Listing data provided by: Central Panhandle Association of Realtors (CPAR)
Information deemed reliable but not guaranteed. The information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
