Above $5 Million Panama City FL Real Estate, Homes, Condos for Sale

323 RAW ACREAGE AVAILABLE - Discover an exceptional development opportunity with approximately 323 acres strategically located along Highway 231. Zoned commercial/agriculture and offering multiple access points from the highway, this expansive property provides flexibility for a variety of potential uses. Its highest and best use may be a thoughtfully planned single-family residential community, with ample space to create a neighborhood that balances convenience, privacy, and Northwest Florida's natural surroundings. Located just a few miles from the busier areas of town and within convenient driving distance of the area's beautiful beaches, this property offers the accessibility today's buyers want while maintaining plenty of room to grow. A rare opportunity for developers and investors seeking substantial acreage in the path of future growth. Buyer to verify zoning, land use, access, utilities, environmental conditions, and development potential.

0000 W 231 Highway, Panama City

$6,250,000

792473 MLS

This 30,000± SF newly constructed warehouse is purpose-built for efficient distribution and long-term performance. The facility features 28 dock-high doors, three additional dock positions on a uniform loading platform, and 10 grade-level doors - providing exceptional flexibility for a wide range of logistics and industrial operations. Situated on a site with up to 4.0± acres of additional land available for outside storage or truck parking, the property benefits from Bay County's flexible Industrial-2 zoning, allowing for scalable operations and future expansion. The building is designed for multi-tenant or single-user functionality, with three divisible bays, each equipped with new restrooms and infrastructure to support further buildout as needed. Clear heights of 18' at the eaves and 21' at the ridge, combined with reinforced concrete slabs, support efficient racking, storage, and heavy use. The corner lot configuration provides excellent truck ingress and egress, enhancing circulation and operational flow. Strategically located in central Bay County, the property offers immediate access to Highway 231 and Highway 98, enabling efficient regional connectivity. Estimated completion: July 2026.

2505 Industrial Drive, Panama City

$5,295,000

7 Beds ⋅ 9 Baths ⋅ 791891 MLS

There is something timeless about waking to the sight of the Gulf stretching endlessly beyond your window. At 5931 Gulf Drive, that experience becomes part of everyday life. Positioned directly on the shoreline within Hadley's Beach, an intimate community where only ten residences enjoy true Gulf-front placement, this fully furnished home invites you to live at the water's edge, where the rhythm of the waves sets the pace of the day. Spanning 5,031 square feet, the residence was designed around the view. From the moment you enter, the Gulf commands attention--an ever-changing backdrop of turquoise water, white sand, and expansive coastal sky. Sunlight moves effortlessly through the home's generous living spaces, creating an atmosphere that feels both elevated and welcoming. The heart of the home is where people naturally gather. A beautifully appointed kitchen with premium appliances opens seamlessly into the living and dining areas, creating a setting equally suited for celebratory dinners, holiday gatherings, or quiet mornings with coffee overlooking the shoreline. Every space feels connected, designed to bring family and friends together while never losing sight of the water beyond. With seven bedrooms and eight-and-a-half bathrooms, the home offers room to spread out and settle in. Yet it is the third-floor primary suite that truly captures the imagination. Elevated above the coastline, it feels almost suspended between sea and sky. Here, sweeping Gulf views greet the morning, while evenings are framed by breathtaking sunsets reflected across the water. Outside, life naturally gravitates toward the Gulf. A private pool offers a refreshing retreat between beach walks, while the shoreline itself is just steps away. Days begin with sunrise strolls along the sugar-white sand and end with conversations carried by the sound of the surf. Thoughtful additions such as two laundry rooms and an elevator servicing all levels bring comfort and convenience to everyday living. Offered fully furnished and with short-term rentals permitted, the home is prepared to be enjoyed from the moment you arrive. Whether envisioned as a gathering place for generations, a coastal retreat, or an investment in one of Panama City Beach's most desirable beachfront communities, the experience remains the same: effortless, refined, and deeply connected to the beauty of the Gulf. At 5931 Gulf Drive, the shoreline is not simply a view--it becomes part of the way you live.

5931 Gulf Drive, Panama City

$5,900,000

8 Beds ⋅ 8 Baths ⋅ 789986 MLS

Set along the sugar-white shoreline of Panama City Beach, The Headliner at Hadley's Beach presents a rare opportunity to own one of the limited Gulf-front residences within Hadley's Beach, an intimate enclave of just 20 homes. With only 10 true Gulf-front residences in the community, this newly constructed offering represents one of the final opportunities to secure direct waterfront ownership in a setting designed for both elevated coastal living and exceptional investment potential, with short-term rentals permitted. Positioned moments from the energy of Panama City Beach's celebrated dining, live music, and entertainment scene, the home offers the rare balance of privacy and connection. Owners and guests can enjoy evenings filled with waterfront concerts, local music venues, and vibrant coastal culture before retreating to the serenity of their own Gulf-front escape. Spanning 5,662 square feet across three thoughtfully designed levels, the residence by Thor Construction & Design blends refined coastal architecture with modern luxury. Floor-to-ceiling windows frame uninterrupted Gulf views, drawing natural light throughout the interiors while showcasing the ever-changing blues of the water beyond. Just beyond the back door, private access leads directly to the white sand and turquoise shoreline, creating a seamless transition between home and beach. The residence offers eight spacious bedrooms and eight bathrooms, carefully arranged to accommodate both large gatherings and quiet retreat. The second level serves as the heart of the home, where expansive living and dining spaces flow effortlessly into a chef's kitchen designed for entertaining against a backdrop of panoramic Gulf views. Clean architectural lines, elevated finishes, and generous proportions create an atmosphere that feels sophisticated yet inviting. Occupying the upper level, the primary suite offers a private sanctuary overlooking the Gulf, complete with its own lounge area designed for peaceful mornings, sunset views, and evenings accompanied by the distant rhythm of the coast's live music scene. Outdoor living is equally exceptional, with more than 1,300 square feet of porch space designed for open-air dining, relaxed conversation, and uninterrupted waterfront vistas. A private pool offers another space to unwind after a day on the beach, while the home's elevator and garage provide effortless convenience. Offered fully furnished, The Headliner at Hadley's Beach is curated for immediate enjoyment. With direct Gulf frontage, refined construction, and proximity to the very best of Panama City Beach's coastal lifestyle, 5935 Gulf Drive is a statement residence where luxury, leisure, and the soundtrack of the Gulf Coast come together beautifully.

5935 Gulf Drive, Panama City

$10,450,000

788472 MLS

Property has been re-built from the ground up; so everything is brand new even the parking lot. This opportunity is about 95% complete. The asking price is about half of the true value. 90 rooms and another 6 or so comprising of the Lobby, Electrical, Washer and Dryer area etc. All of the furniture is in and the TV's are hung. It was formerly known as The Labrisa Inn. It is located just down the street from the new Tyndall Air Force Base. More pics and drone footage coming soon...

5711 E Highway 98, Panama City

$8,475,000

5 Beds ⋅ 10 Baths ⋅ 786845 MLS

Perched on 380 feet of pristine West Bay waterfront along the Northwest Florida Gulf Coast, Villa Chimera is the most extraordinary luxury estate in Panama City Beach. Spanning 9,473 sq. ft. across three expansive lots, this 5BR/6BA/4HB masterpiece was authentically modeled after an Italian Venetian Palazzo -- designed by architect Philip Spann from hand-sketched owner drawings inspired by Renaissance master Andrea Palladio. Every finish was sourced from Italy or crafted by world-renowned artisans: a hand-carved Italian marble fountain, cushion-cut marble walls, Venetian silk upholstery, a Rome-crafted stone dining table, and a Renaissance fresco ceiling hand-painted by artist Jody Matokovich. This is not simply a Gulf Coast luxury home -- it is a one-of-a-kind legacy estate. The soaring foyer commands immediate attention with its grand Schonbek crystal chandelier, custom compass rose marble floor inlay, and solid stone staircase with marble balusters. The great room overlooking West Bay features a marble fireplace, limestone accents, and walls upholstered in Bevilacqua silk -- made in Venice and renowned worldwide. A media room with a theater-size projection screen and theatrical lighting flows seamlessly from the living space. The gourmet kitchen features Wolf and Sub-Zero appliances, a breakfast bar, separate bar area, and a fully equipped butler's pantry for effortless large-scale entertaining. All cabinetry was custom-designed by Design Galleria of Atlanta. The dining room centers around a custom stone table crafted in Rome outside the Vatican walls, beneath Venetian watermark plasterwork evoking centuries of Palazzo history. The second-level master suite is a private sanctuary with bay views, a columned balcony, and a hand-painted Renaissance fresco vault ceiling. Separate his-and-hers bathrooms each feature heated floors and double showers with body jets. A detached guest house -- connected by covered walkway -- includes a full kitchen, sitting area, private veranda, and full bath. Smart home living is delivered via a full Crestron system controlling all lighting, media, and security. Additional highlights: Kohler 100KW whole-house generator, all-copper plumbing, 4-car garage with wheelchair lift, whole-house central vacuum, monitored security cameras, LED lighting throughout, and all windows and exterior doors replaced post-Hurricane Michael. A rare and irreplaceable Florida Gulf Coast waterfront estate -- schedule your private showing today.

3730 Preserve Bay Boulevard, Panama City

$6,493,000

786612 MLS

+/-54,027 SF neighborhood shopping center situated on 5.18 acres on Hwy 231 in Panama City. This property benefits from access points on major arteries, Hwy 231 & Hwy 77 along with a separate lighted intersection at 19th St. The property is well positioned to meet the daily retail and service needs of nearby neighborhoods while benefiting from proximity to Bay County's healthcare and employment hubs. Currently 83.13% occupied, the center provides stable in-place income with additional upside through +/-9,114 SF of available office space. Panama City benefits from a diversified economic base supported by healthcare, tourism, retail, and military presence. Major employers such as HCA Florida Gulf Coast Hospital, Ascension Sacred Heart, and Tyndall Air Force Base provide a stable employment foundation that supports consistent consumer activity. +/-54,027 SF Neighborhood Shopping Center on +/-5.18 Acres 83.13% Occupied with Stable In-Place Income +/-9,114 SF Office Vacancy - Lease Upside Opportunity Multiple Access Points (Hwy 231, Hwy 77 & 19th Street) New Roof and HVAC installed 2019 Parking Ratio: 4.37:1000 Financials & Rent Roll Available Upon Request

615 Highway 231, Panama City

$6,200,000

782381 MLS

PRICE IMPROVEMENT - NOW OFFERED AT $6.2 MILLION. This stabilized 50-unit garden-style apartment community presents an exceptional opportunity to acquire a well-maintained, income-producing asset with significant recent capital improvements and long-term upside. The property features a highly desirable unit mix of 8 one-bedroom, 20 two-bedroom, 12 three-bedroom, and 10 four-bedroom apartments, with 42 units renovated since 2020, showcasing updated flooring, fresh paint, windows, and modern fixtures. Ownership has invested heavily in the property's infrastructure, including new metal roofs, upgraded electrical panels, and numerous HVAC and water heater replacements, minimizing near-term capital expenditures. Additional revenue is generated through an on-site laundry facility, while a separate office building with storage provides efficient on-site management and operational support. The community maintains consistently strong occupancy and is further enhanced by an assumable $4.57 million fixed-rate, 3.75% non-recourse loan (subject to lender approval), providing a significant financing advantage in today's interest rate environment. Ideally located near major employers, schools, shopping, dining, and just minutes from Panama City Beach, the property benefits from strong rental demand in one of Northwest Florida's fastest-growing markets. Now priced at $6.2 million, this is a compelling opportunity for investors seeking immediate cash flow, operational stability, favorable financing, and future growth potential.

3510/ 3536 Saint John Street, Panama City

$6,185,000

782380 MLS

This exceptional 34-unit waterfront community, complete with a 22-slip marina, is now offered at a newly adjusted price, creating an even stronger value proposition for investors. In addition to its comprehensive renovations and prime waterfront amenities, the property includes an income-generating on-site laundry facility and a low-maintenance marina that produces steady net revenue, further strengthening the asset's operational performance. With 22 units fully renovated down to the studs in 2020, upgraded mechanicals, new roofs, contemporary interiors, and a history of consistently high occupancy, this community offers both stability and long-term growth potential. Positioned within the heart of Downtown Panama City's ongoing revitalization--featuring upgraded streetscapes, improved walkability, and renewed waterfront development--this asset remains one of the most compelling opportunities in the market. The pricing adjustment simply aligns the offering with current investor activity and enhances the property's already strong return profile.

240 Harmon Avenue, Panama City

$6,200,000

748690 MLS

UNDER CONTRACT! TAKING BACKUP OFFERS. Take a look at this like new beautiful full service - turn key Upscale Marina for sale in the Bay County Panama City Florida area. Marina was fully constructed in 2016 and consist of a 44,228 square foot barn for inside storage capacity of up to 240 boats and 2 Taylor boat forklifts. The barn has 3 rows and can easily accommodate a 32 ft boat. Marina is on a 2.5 acre parcel for additional growth such as an outdoor . restaurant, service department etc. The outside wet slips consist of 15 and accommodation of long term rental or transit. On the premises is a large Tiki bar, kitchen. Take a dip on the pristine pool after a long day of fishing.. Fuel depot on site, gift and bait shop and a large 1800 square foot office. On the second floor of the storage barn is a beautiful one bedroom one bath apartment overlooking the Bayou and Marina. An outdoor open air pavilion, 2 ice machines, 2 freezers, 11 courtesy racks, fish cleaning station and two additional large piers. This is the only inside storage facility in the inner city of Panama City Florida with an estimated population of around 150,000. New city public boat ramp being constructed two parcels down which will increase the fuel/bait sales and additional inside storage. Bank appraisal accomplished in 2019 and available with proper buyer credentials. This will give a potential qualified buyer the actual value of the marina going back to 2019. Centrally located near restaurants and 5 minutes from downtown Panama City. Easy access to the Gulf. Will consider Seller Financing with substantial down.

1654 E 5th Street, Panama City

$6,350,000

755565 MLS

Hard to find, 100,000+/- SF manufacturing facility with 8,000 SF of recently built office space attached, on a 12 acre parcel. Overhauled after Hurricane Michael, with new roof, and infrastructure renovations, this offering includes FF&E related to Sellers Textile Printing business. Much of the industry related equipment was replaced following the storm, at an estimated costs of $5 Million dollars. Sales memorandum available on request.

909 W 39th Street, Panama City

$7,700,000

745591 MLS

The very best commercial site in Panama City is now available for purchase. This 77± acre tract - WILL DIVIDE - is located at and around the southeast corner of Highway 77 and Baldwin Rd between the new 360 Gas + C-store and Tonya's Garden, and adjacent to 360 on Baldwin Road. The opportunities are endless for a property with this size and location. Being near the middle of ALL commercial activity in Panama City and Lynn Haven makes this site worthy of your serious consideration. Two median cuts on Highway 77. Excellent location for a commercial development and multifamily on the rear.

000 Baldwin Rd E, Panama City

$18,000,000

773803 MLS

The subject +/-1,946 acre property is located on Old Majette Tower Rd and has .6 miles of frontage on John Pitts rd. Municipal utilities available to site along John Pitts Rd as well as the neighboring, Bay County owned HG Harder's Park to the West. Currently under Panama City Zoning - Silviculture. With a Future Land Use of Urban Community the site is positioned for a large scale residential and commercial development. With access to Highway 231, the site allows for easy commuting to The Beaches of Panama City, Tyndall Air Force Base, and major transportation arterials.

00 John Pitts Road, Panama City

$7,500,000

772017 MLS

Rare ±231-acre waterfront development opportunity with ±8,000 feet of natural shoreline on North Bay — now available with flexible deal structures including seller financing and potential joint venture (JV) development partnerships. The seller is actively seeking qualified development partners and is open to creative structuring to bring this site to its highest and best use. Strategically located in Bay County's rapidly expanding north side, the property is just minutes from Northwest Florida Beaches International Airport, Panama City Beach, and the multi-billion-dollar redevelopment of Tyndall Air Force Base. Adjacent to the established Fanning Bayou subdivision and close to Gulf Coast State College's North Bay Campus, this site sits squarely in the path of major regional growth. Development Highlights: * ±231 acres with ±8,000' of natural shoreline * Previously approved for 218 residential units and a school * Utilities nearby; excellent access to infrastructure and major roads * Bay County planning supports new development in this corridor * Ideal for residential, mixed-use, institutional, or recreational development This is one of the largest contiguous, undeveloped waterfront parcels remaining in the area. With strong regional demand, supportive zoning, and a seller willing to structure a deal creatively—including JV partnerships—this property offers a compelling opportunity for developers and investors looking to capitalize on Northwest Florida's growth.

Fonza Road, Panama City

$8,000,000

754214 MLS

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.

401 N Kimbrel Avenue, Panama City

$5,250,000

6 Beds ⋅ 8 Baths ⋅ 760174 MLS

CONTACT LISTING AGENT TO DISCUSS NEW HUGE SELLER INCENTIVES BEING OFFERED. This is the newest built home for sale on the beachfront! 6-bedroom, 6-bathroom house offers over 4,600 square feet of luxurious living space. Situated directly on the beach with private access, this home provides an unbeatable coastal lifestyle. The spacious interior includes gourmet kitchen with high-end appliances and custom cabinetry. Each bedroom features an en-suite bathroom and comes fully furnished with stylish décor. An elevator ensures easy access to all levels of the home. Outside, enjoy your private pool with breathtaking ocean views. The expansive deck is ideal for sunbathing, dining, and entertaining. This home combines luxury and comfort in a stunning natural setting. Sold fully furnished as turn-key, high producing vacation rental!

9704 Beach Boulevard, Panama City

$6,200,000

748690 MLS

UNDER CONTRACT! TAKING BACKUP OFFERS. Take a look at this like new beautiful full service - turn key Upscale Marina for sale in the Bay County Panama City Florida area. Marina was fully constructed in 2016 and consist of a 44,228 square foot barn for inside storage capacity of up to 240 boats and 2 Taylor boat forklifts. The barn has 3 rows and can easily accommodate a 32 ft boat. Marina is on a 2.5 acre parcel for additional growth such as an outdoor . restaurant, service department etc. The outside wet slips consist of 15 and accommodation of long term rental or transit. On the premises is a large Tiki bar, kitchen. Take a dip on the pristine pool after a long day of fishing.. Fuel depot on site, gift and bait shop and a large 1800 square foot office. On the second floor of the storage barn is a beautiful one bedroom one bath apartment overlooking the Bayou and Marina. An outdoor open air pavilion, 2 ice machines, 2 freezers, 11 courtesy racks, fish cleaning station and two additional large piers. This is the only inside storage facility in the inner city of Panama City Florida with an estimated population of around 150,000. New city public boat ramp being constructed two parcels down which will increase the fuel/bait sales and additional inside storage. Bank appraisal accomplished in 2019 and available with proper buyer credentials. This will give a potential qualified buyer the actual value of the marina going back to 2019. Centrally located near restaurants and 5 minutes from downtown Panama City. Easy access to the Gulf. Will consider Seller Financing with substantial down.

1654 E 5th Street, Panama City

$6,350,000

755565 MLS

Hard to find, 100,000+/- SF manufacturing facility with 8,000 SF of recently built office space attached, on a 12 acre parcel. Overhauled after Hurricane Michael, with new roof, and infrastructure renovations, this offering includes FF&E related to Sellers Textile Printing business. Much of the industry related equipment was replaced following the storm, at an estimated costs of $5 Million dollars. Sales memorandum available on request.

909 W 39th Street, Panama City

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Above $5 Million Panama City Real Estate