224 E Lakeshore Drive, Panama City Beach, FL 32413 (MLS# 783112)

Prime development opportunity in the heart of Laguna Beach! Located just ~390 yards from the Gulf and near the area’s highly sought-after ”Reserved Beach”, 224 E Lakeshore Drive offers exceptional upside for builders, developers, and long-term investors. This .407-acre parcel is zoned Bay County R-2 (Urban), allowing for duplexes, townhomes, and multiple dwelling units, making it ideal for redevelopment. The true value lies in the development flexibility—the property may be subdivided into multiple lots (up to approximately 4, subject to county approval) or developed as a multi-unit project, including duplexes or townhomes. The R-2 zoning supports a variety of configurations, including: Duplex or townhome development Potential lot splits for multiple single-family or attached residences Higher-density residential build-out consistent with surrounding newer construction City utilities are available, and the site is surrounded by newer homes and townhome projects, reinforcing both market viability and resale potential. Whether your strategy is to split lots, build duplexes, or develop townhomes, this property presents a rare opportunity west of Front Beach Road in an area with limited remaining undeveloped land.