Neglected Panama City Beachfront Home for Sale

This faded former Grand Dame of a home has a gracious setting beside the bright white beach overlooking the jeweled waters of the Gulf of Mexico. It was built in 1945 and movie stars from Hollywood’s Golden Era like Bette Davis or Joan Crawford would have surely loved to have had it as their beach home. The exteriors and established grounds of this .36 acre gulf front home have that era’s styling. The walled-in property features towering Royal Palms along with rows of Sega Palms that adorn patios in the front and others that span the entire width of the beach. The fantastic Panama City Beach location less than ten minutes west of Pier Park at 20413 Front Beach Road.

It was purchased in 1992 as a second home by the same family who used to spend their vacations here. They have been gone for a while, so time and vacancy have definitely taken its toll. However, as they say, “the bones are still good” since this structure was an example of very sound solid construction.

This beach home is approximately 4,000 square feet with a two-story primary structure that adjoins a long single story wing on the left side of the front exterior and another partial wing on the right.

A two-story octagonal glass-walled turret wing and square partial wing were added on the beach side. They overlook the gorgeous Gulf and a massive concrete patio that is anchored by a 250 liner foot seawall that is ten feet deep and eight feet tall.

A square columned veranda leads out from the house to this beachfront patio that contains a large lagoon shaped swimming pool with a cascading stone waterfall that spilled over into its side. There is a classically columned pavilion next to it with a wooden deck that overlooks the glittering Gulf.

On the other side of the stone waterfall, a raised patio includes a pergola for shade.

This home is quite enchanting in a hauntingly nostalgic kind of way. It was made for entertaining, and you can almost envision partying guests venturing out from the columned veranda to the beachside pool patio to relish the sensational views. It currently has four bedrooms and three full baths but requires significant renovations along with cosmetic remodeling.

The current price has been reduced by 20% since it was first listed about six weeks ago and could go quite a bit lower as it is currently offered at $7,900,000. The seller is motivated and has encouraged the agent to take offers. It has already been seen by some who are so captivated by its potential that they are thinking of rehabbing the existing home for use as a vacation residence or wedding venue of some kind. However, this property can be subdivided into four beachfront parcels measuring 37.5’ x 105’. Zoning allows for a residential structure up to 45’ in height, so it’s possible that four stacked units could be placed on each parcel. This would conceivably provide the potential for 16 beachfront units, however, Building & Zoning officials should be consulted with in advance.

If interested in this property’s potential contact our Ocean Reef Real Estate Office today at 877-392-6085 for complete details and a complimentary professional Comparative Market Analysis of other similar Panama City Beach properties that are for sale.