Exceptional development opportunity in Panama City, Florida! This 5.11-acre MU-2 zoned property offers the potential to build up to 51 multifamily units by right, with additional density possible under Florida’s Live Local Act. The site features paved road frontage on W 12th Street, utilities nearby, and close proximity to W 15th Street, the area’s main commercial corridor with shopping, schools, and public transportation. Environmental and geotechnical studies are complete, showing no recognized environmental concerns. Existing natural pond and wetlands delineated for future planning. Please contact the listing agent for full Offering Memorandum, survey, Phase I ESA, and other due diligence files.