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- LoopNet Team
13400 Highway 77
Panama City, FL 32409
Lake Merial · Land For Sale
·
1,999.00 AC
PROPERTY FACTS
| Property Type | Land | Total Lot Size | 1,999.00 AC |
| Property Subtype | Commercial | No. Stories | 1 |
| Proposed Use | Planned Unit Development | ||
| Zoning | Mixed Use | ||
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Planned Unit Development |
| Total Lot Size | 1,999.00 AC |
| No. Stories | 1 |
| Zoning | Mixed Use |
DESCRIPTION
The subject area is in the growth stage of its life cycle. Population and income levels have been increasing in recent years, and this trend is expected to continue moving forward. The property is located 15-20 miles north of the Panama City and Panama City Beach areas, which are and have historically been popular tourist areas. Although the subject’s immediate area is not heavily developed, the property is located within the path of growth which has been occurring from south to north in Bay County. The recent improvements of Highway 77 to four lanes is a positive factor, as this roadway provides direct access to I-10 approximately 25 miles to the north. In addition, the property’s close proximity to the Northwest Florida Beaches International Airport is a positive factor, as this area has been and is expected to spur new development in the area. We anticipate that property values will increase in the area as it continues to grow, especially in the medium to long term.
PROPERTY TAXES
| Parcel Number | 26486-020-010 | Improvements Assessment | $15,506 |
| Land Assessment | $271,400 | Total Assessment | $286,906 |
PROPERTY TAXES
