$2,485,000
Panama City, FL 32404
MLS# 943980
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Property Description
Callaway Cove'' Apartments is in Callaway, between Panama City and Tyndall Airforce Base. ''Shovel Ready''. Land is owned with no debt, 70% cleared and all 3rd party engineering reports and Phase 1 Environmental are complete. The ''DO'' (Development Order) is in place which was updated in May 2023 and allows for immediate horizontal construction. The ''Market Demand'' studies (MFA and HUD) show a demand of about 500 housing units in the Callaway submarket alone, due to strong core job growth and the depletion of housing units due to Hurricane Michael in 2018. Tyndall Airforce base, 6 miles away has four new F35 jet squadrons groups as well as the Drone division at the base, all needing housing.
Details
None
Current Price: $2,485,000
Status Change Info
Status: Active
Contract Info
GCCMLS Number: 30868176
List Date: 2024-02-26
List Price: $2,485,000
Listing Board: Emerald Coast
Location, Tax and Legal
Area: 27 - Bay County
Street #: 8307
Street Name: FL-22
State: FL
Zip Code: 32404
County: Bay
Sub Area: 2702 - Bay - Central SE
Parcel ID: 06622-000-000
Legal Description: 9 4S 13W 10A -4- 146C BEG SE COR OF SE1/4 OF NW1/4 TH RUN N 335.42' FOR POB TH CONT N 625.33' TH S83 DEG W 440' TH S 302.71' N86 DEG E 220' TH S 300' TO THE NORTH R/W OF HWY 22 TH N86 DEG E 219.47' TO POB ORB 3958 P 181
General Property Info
Listed on GCCMLS: Yes
Vacant: Yes
Immediate Occupancy: No
Acreage: 4.53
Zoning: Commercial
Listing Info, Tax & Legal
As Is: Yes
Remarks & Misc
Remarks: Callaway Cove'' Apartments is in Callaway, between Panama City and Tyndall Airforce Base. ''Shovel Ready''. Land is owned with no debt, 70% cleared and all 3rd party engineering reports and Phase 1 Environmental are complete. The ''DO'' (Development Order) is in place which was updated in May 2023 and allows for immediate horizontal construction. The ''Market Demand'' studies (MFA and HUD) show a demand of about 500 housing units in the Callaway submarket alone, due to strong core job growth and the depletion of housing units due to Hurricane Michael in 2018. Tyndall Airforce base, 6 miles away has four new F35 jet squadrons groups as well as the Drone division at the base, all needing housing.
Office/Member Info
Cooperative Comp: 3
Cooperative Comp Type: %
Multi-Family
# of Units: 96
Property Features
Class: Multi-Family
Construction Status: Proposed
Listing Office: Inlet Beach Real Estate
Last Updated: April - 17 - 2024
All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2020 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.
Sunday 28th of April 2024 07:14 AM
