2431 Game Farm Rd, Panama City, FL, 32405
About This Home
Prime Multi-Family Development Opportunity - R2 Zoning | Approx. 1.92 Acres Exceptional investment and development opportunity in a growing area. This approximately 1.92-acre parcel is zoned R2 Multi-Family and allows up to 15 units per acre, supporting a potential development of up to 23 residential units (subject to final engineering, site plan approval, and municipal review). The property offers approximately 306 feet of frontage and features a favorable layout suitable for a townhome, apartment, or multifamily residential project. Preliminary conceptual planning demonstrates the potential for a 23-unit development with internal access, parking, landscaped common areas, and open space. Development-friendly zoning requirements include: • Front setback: 20 feet • Side setbacks: 5 feet • Rear setback: 10 feet • Multi-family residential use permitted Located in an area experiencing continued residential growth, this site provides an excellent opportunity for builders, developers, and investors seeking to capitalize on strong housing demand. Utilities availability, zoning regulations, density allowances, and development potential should be independently verified by purchaser. Rare opportunity to acquire a multi-family development site with conceptual plans already demonstrating the property's density potential. Bring your vision and unlock the value of this strategically positioned parcel. Buyer to verify all zoning, density, utility availability, permitting requirements, and development feasibility. Proposed site plan is AI Generated.
Getting Around
Car-Dependent
No Nearby Transit
Somewhat BikeableSchools
Construction
Condition
- New construction: Yes
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Interior Area
- Total structure area: 0
Property
Details
- Parcel number: 12212000000
- Zoning description: Resid Multi-Family
Lot
- Lot size: 1.92 Acres
- Lot size dimensions: 315 x 240 x 308.4 x 225
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Hurricane
- Lightning
- Tornado
- Cold Wave
- Heat Wave
- Strong Wind
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters in Bay County and Florida
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $3,489 | $41,868 |
| Home Insurance * | $337 | $4,044 |
| Property Taxes | $442 | $5,304 |
| Electricity | $197 | $2,366 |
| Total | $4,465 | $53,580 |
Income You'd Need if You Spent...
Florida FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-06-30 | Price change | $347,000 |
| 2026-06-26 | Listed for sale | $690,000 |
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