Between $4 Million - $5 Million Panama City FL Real Estate, Homes, Condos for Sale

Welcome to A Sight to Sea, an exceptional 7-bedroom, 6.5-bath coastal retreat offering of beautifully designed living space. The home features expansive open-concept living areas, a well-appointed kitchen, private elevator, generous bedrooms, multiple gathering spaces, and abundant room for entertaining. Outdoors, enjoy a private swimming pool, hot tub, and inviting areas for relaxing in the Florida sunshine. Conveniently located near the sugar-white beaches of Panama City Beach, dining, shopping, parks, and entertainment. Currently operated as an established vacation rental, this impressive property is equally suited as a primary residence, second home, or investment opportunity. Available furnished or unfurnished, subject to the final purchase agreement.

9708 Beach Boulevard, Panama City

$4,500,000

792242 MLS

Pelican Pass at Massalina Bayou presents a rare opportunity to acquire an entitled waterfront development site in the heart of Panama City's waterfront district. The property consists of approximately 3.247 acres with 650 linear feet direct frontage on Massalina Bayou. Asking price of $4,500,000. The property benefits from a recorded and assignable Development Agreement providing vested rights for residential and marina development. Multiple development paths are supported, including attached residential/townhomes, detached single-family residential, multifamily residential and marina-oriented waterfront development. Zoned Mixed-Use 3 (MU-3) within the City of Panama City. The sale includes Bay County Parcel ID # 19528-000-000. ALTA/topographic survey, development agreement, existing conditions, townhome concept plans, draft plat, marina layout, single-family lot concept, construction/utility exhibits, seawall proposal and marina proposal. This reduces uncertainty and allows a buyer to immediately evaluate the project as a partially assembled waterfront development opportunity, not raw land.

305 E Beach Drive, Panama City

$4,500,000

792107 MLS

Pelican Pass at Massalina Bayou presents a rare opportunity to acquire an entitled waterfront development site in the heart of Panama City's waterfront district. The property consists of approximately 3.247 acres with 650 linear feet direct frontage on Massalina Bayou. Asking price of $4,500,000. The property benefits from a recorded and assignable Development Agreement providing vested rights for residential and marina development. Multiple development paths are supported, including attached residential/townhomes, detached single-family residential, multifamily residential and marina-oriented waterfront development. Zoned Mixed-Use 3 (MU-3) within the City of Panama City. The sale includes Bay County Parcel ID # 19528-000-000. ALTA/topographic survey, development agreement, existing conditions, townhome concept plans, draft plat, marina layout, single-family lot concept, construction/utility exhibits, seawall proposal and marina proposal. This reduces uncertainty and allows a buyer to immediately evaluate the project as a partially assembled waterfront development opportunity, not raw land.

305 E Beach Drive, Panama City

$4,000,000

787317 MLS

2420 Jenks Avenue offers investors the opportunity to acquire a fully leased commercial property in Panama City, Florida. The asset consists of approximately ±22,000 square feet across three buildings situated on two parcels (Bay County Parcel ID's 13016-122-000 and 13016-122-070). The improvements include two buildings totaling ±8,000 RSF each and one building of approximately ±6,000 RSF. The property is currently 100% leased, providing immediate in-place income. Recent capital improvements include new roofs installed in 2022. The property is being offered at an 8.63% cap rate and owner financing is available. 2420 Jenks Avenue is located in a well-established commercial corridor in Panama City with convenient access to surrounding business districts and major transportation routes.

2420 Jenks Avenue, Panama City

$4,490,000

9 Beds ⋅ 7 Baths ⋅ 784135 MLS

''INVESTMENT PROPERTY'' This beautiful Private Beach home is a money maker! It has produced over $400k in rentals a year over the last four years. It is already booked at 70% for 2026! The location is great in the heart of all the attractions in Panama City Beach! The home has a 14x24 heated pool, hot tub , and over 2000sq ft of back deck to enjoy. You can walk off the back deck right into the beautiful white sand, and into the gulf! Home also boasts plenty of parking for boats, motorcycles, or RV's. With 9 bed rooms and 7 bathrooms there is room for the entire family! King size beds are in seven of the nine bedrooms, and almost every room has a beautiful view of the gulf. Home has a Large open area for entertaining and Gourmet Kitchen. There is also a separate Media/Game room for the kids upstairs with game table and large flat screen TV. ''Making Waves'' is a premiere gulf front home with a proven rental record! You must come see it for yourself!

5409 Gulf Drive, Panama City

$3,457,172

770603 MLS

New Construction (2025) A+ Location: Jenks Ave, near 23rd St & HCA Gulf Coast Hospital Premium Medical Infrastructure: Operating room for outpatient procedures, dedicated recovery room, and 13 exam rooms. Superior Build Quality: High-grade metal roof (top wind rating), impact-resistant windows, foam insulation, and Hardy board soffits for durability and energy efficiency. Advanced Technology Integration: State-of-the-art security system, CAT 6 data cabling, HDMI-wired exam rooms with 4K TVs, and Sonos speakers throughout. Unmatched Convenience & Location: Across from Gulf Coast Hospital with dual access drives, ample signage opportunities, and excellent parking (58-60 spaces).

1936 JENKS Avenue, Panama City

$4,900,000

772654 MLS

Exceptional opportunity to acquire 2.57± acres of prime commercial waterfront property, strategically located in Panama City. Zoned General Commercial, this site supports a broad array of development opportunities such as retail centers, professional office complexes, service businesses, wholesale sales, shopping plazas, and more. The zoning is designed to accommodate intensive commercial activity, making it ideal for developers or investors seeking a high-potential waterfront site in a growing market. Boasting a 2024 FDOT Average Daily Traffic Count of 41,500, this high-visibility site offers unparalleled access and exposure for a wide range of commercial ventures. Situated close to major regional landmarks including Hathaway Bridge, the Port of Panama City, Gulf Coast State College, and Florida State University's Panama City campus, this property sits at the crossroads of commerce, education, and infrastructure. Don't miss this rare opportunity to develop a high-impact commercial property in one of Panama City's most accessible and dynamic locations.

XXX W Highway 98, Panama City

$4,000,000

773120 MLS

+/- 80 acres with over 2,200ft of waterfront on East Bay, with direct access to the Gulf of Mexico. Currently zoned CSVH, allowing for 2 residential units / acre. Water, electricity, and sewer are available to site. Directly across the bay from Tyndall Air Force Base. The City of Callaway has seen significant growth from a $5.2 billion rebuild of Tyndall Air Force Base—the largest MILCON project in recorded Air Force history. Additional, adjacent +/- 19 waterfront acres available upon request.

00 Highway 2297, Panama City

$4,570,000

4 Beds ⋅ 6 Baths ⋅ 777099 MLS

This is a WATERFRONT home that transcends expectations and delivers privacy over prestige—exuding quiet, effortless luxury. Tucked away on a private island of 381' of shoreline in Panama City, Florida, this 2025 newly constructed residence is more than just a home...it's a legacy. A rare blend of architectural brilliance, natural beauty, and elevated craftsmanship, this estate redefines coastal living. Designed by Wes Seaborn, built by McIntosh-Myers Construction, and curated by Lori Faison Interiors, every element was intentionally crafted to support a lifestyle of beauty, comfort, and refinement. The design is rooted in organic minimalism, elegant in simplicity, yet rich in warmth and texture. A 12' impact-rated mahogany door opens to a soft palette of Venetian plaster, shellstone, and white oak select throughout. Light dances across barreled plaster hallways with fused-in lighting beneath. It's a quiet symphony of detail. Subtle, yet unforgettable. The vaulted living room is clad in white oak select with a fluted plaster fireplace and Nano doors that open to a sprawling covered lanai. The adjoining dining room, wet bar, and open kitchen invite gatherings, centered around paneled SubZero and Miele appliances, concrete countertops with fused-in sinks, and custom EF San Juan cabinetry. A remarkable scullery and discreet storage keep the space functional yet clean—perfect for entertaining or daily life. Spanning 5,364 SF of heated/cooled space and 8,543 SF under roof, the main residence exudes a highly desirable floorplan. All bedrooms enjoy breathtaking panoramic water views. Offering seamless Gulf access just 10 nautical miles away, without idle zones slowing you down and pure Bay views. At 14' elevation and built of poured solid concrete, this home is as resilient as it is beautiful. The private primary suite is its own tranquil escape, accessed through a barreled, Venetian plaster backlit hallway. Inside, you'll find motorized drapes, a beverage fridge, and a steam shower and soaking tub that will take you straight to the spa. Step through to your private lanai and fireplace for pure relaxation. With four spacious bedrooms, four full en suite baths, and two half baths, there's space for hosting without compromising privacy. A dedicated home office wrapped in oak and plaster, oversized laundry with dual washers/dryers, and a thoughtful mudroom with custom lockers make daily routines effortless. Step outside to the covered lanai and unwind by the outdoor fireplace or summer kitchen. The negative-edge pool is a work of art fused with design. Custom tile-lined, stone-surrounded, and built with a chiller/heater, trough-style drains, and no skimmer for a clean, seamless finish. But the performance is just as impressive as the design. Featuring a 4-car garage and built atop a two-way slab, the structure features poured CMU block, a concrete roof, copper gutters, Andersen impact-rated windows/doors, and a reinforced safe room with poured concrete and rebar. A 500-gallon buried propane tank powers key systems, supported by three HVAC units, three tankless water heaters with circulating pump, a generator-ready transfer switch, and a deep irrigation well. Every detail reflects a level of quality rarely seen—fused-in window and baseboard trim, concealed backlit air returns, modern custom Boyd lighting, solid concrete countertops, and custom 8' solid doors. The Lutron lighting system offers full customization for every mood and moment. For future expansion or guests, the detached carriage house provides 830 SF of space already roughed in with plumbing and electrical—ideal for a guest loft, art studio, or wellness retreat. This is more than a residence. This home is a legacy. It's a peaceful sanctuary where design meets intention, where the only thing more breathtaking than the architecture is the view. If you've been searching for a home that's as extraordinary as the life you want to live, you've just found

4204 Northshore Islands Road, Panama City

$4,000,000

771996 MLS

Exceptional Investment Opportunity in Prime Beachfront Location This commercial property, strategically zoned for high-intensity development, presents a rare chance to own a substantial parcel of land exceeding half an acre, situated directly across from the stunning beaches and the Gulf of Emerald Coast. The income-producing 11-unit inn, fully furnished and impeccably maintained, offers a unique opportunity for immediate cash flow and potential for expansion to 14 units, capitalizing on the area's high demand for accommodations. The property's expansive lot provides a canvas for redevelopment, allowing investors to explore various scenarios, including single-family residences, multi-family units, or a mix of both, thereby maximizing the potential for returns on investment. With its prime location and versatile zoning, this property is an investor's dream, offering endless possibilities for creative development and revenue generation. The property offers convenient beach Access, Providing an exceptional lifestyle. Its prime location give you easy access to a wide range of activities and amenities, all within walking distance. Enjoy swimming, sunbathing, and water sports on the pristine beaches, or explore the nearby parks and fresh water springs. The area is also known for its vibrant events calendar, featuring live music, festivals, and cultural events that attract tourists and locals alike. Studio units in Panama City Beach have consistently demonstrated exceptional performance, boasting some of the highest income potential and capitalization rates in the market. With its high tourist turnover and strong demand for short-term rentals, this property is poised to deliver significant returns on investment, making it an attractive opportunity for savvy investors seeking to capitalize on the area's growing popularity. This exceptional investment opportunity is not to be missed. Contact your preferred real estate agent today to schedule a tour and explore the vast potential of this remarkable property. We kindly request that guests not be disturbed. With its unparalleled location, income-generating potential, and endless possibilities for development, this property is sure to be a crown jewel in any investor's portfolio. Buyer to verify all information deemed important.

8614 Surf Drive, Panama City

$3,457,172

770603 MLS

New Construction (2025)A+ Location: Jenks Ave, near 23rd St & HCA Gulf Coast Hospital Premium Medical Infrastructure: Operating room for outpatient procedures, dedicated recovery room, and 13 exam rooms.Superior Build Quality: High-grade metal roof (top wind rating), impact-resistant windows, foam insulation, and Hardy board soffits for durability and energy efficiency.Advanced Technology Integration: State-of-the-art security system, CAT 6 data cabling, HDMI-wired exam rooms with 4K TVs, and Sonos speakers throughout.Unmatched Convenience & Location: Across from Gulf Coast Hospital with dual access drives, ample signage opportunities, and excellent parking (58-60 spaces).

1936 JENKS Avenue, Panama City

Browse All Panama City FL Between $4 Million - $5 Million Properties for Sale

Between $4 Million - $5 Million Panama City Real Estate