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    • Central Bay Realty & Property Management
      732 Ohio Ave
      Lynn Haven, FL 32444
      (850) 257-5016
      centralbayrealstate@gmail.com

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      • Roy F Furst

        Licensed Real Estate Broker

        Central Bay Realty

        Phone: (850) 257-5016

        Email: centralbayrealestate@gmail.com
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        IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

        $1,850,000
        For Sale

        401 & 405 Massalina Drive

        Panama City, FL 32401
        9 beds | 7 baths | 0.25 acres | #781413
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        69 photos
        Type:Multi-Family
        Structure:Duplex/Multi-Unit
        Zone:Residential

        Description

        ATTENTION!! ATTENTION!! ATTENTION!! 3 SEPARATE STRUCTURES, 2 SEPARATE PARCELS, 1 AWESOME PRICE!! 401 AND 405 Massalina Drive - Waterfront Opportunity on Massalina Bayou! Discover an exceptional investment OR lifestyle opportunity with 2 separate parcels sold together on the scenic Massalina Bayou. This RARE WATERFRONT package includes a NEW CONSTRUCTION (2025) 3-bed, 2-bath MAIN home with a private pool, a NEW CONSTRUCTION (2025) 2-bed, 1-bath CARRIAGE house, AND (4) four 1-bed, 1-bath waterfront apartments—all positioned to generate immediate SHORT -TERM or LONG-TERM income. Property Features: Main Residence (New Construction), 3 Bedrooms • 2 Bathrooms, Private pool with water views, Scheduled to be fully furnished within the next few weeks. Turn-key as a primary residence or ready for both short- and long-term rentals. High-end finishes and thoughtful coastal design throughout Carriage House (New Construction). 2 Bedrooms • 1 Bathroom. Currently leased with a 6-month tenant—income from day one, Modern layout with premium materials and stunning waterfront backdrop. Four Waterfront Apartments, Each unit: 1 Bedroom • 1 Bathroom. Two of the four units currently rented and producing income. Ideal for long-term tenants or short-term rentals, Waterfront setting offers exceptional demand and rental potential Additional Highlights Newly constructed dock connecting both parcels, creating the feel of one expansive waterfront estate. Beautifully manicured landscaping throughout. Direct views of Massalina Bayou offering serene surroundings and a true coastal lifestyle. Prime location near top shopping, dining, entertainment, and local attractions. This unique combination of parcels provides endless possibilities—multigenerational living, a fully income-producing investment, or a luxurious primary residence with rental opportunities built in. With its unmatched flexibility, new construction quality, and breathtaking bayou views, 401 & 405 Massalina Drive is a ONE-OF-A-KIND chance to secure a premier waterfront property with incredible income potential. The number of bedrooms , bathrooms, and square footage represented in the listing is a total of all 3 structures that are being offered for sale. All measurements and dimensions to be verified by the Buyer.

        • Property Details
            • InteriorBreakfast Bar, High Ceilings, Recessed Lighting, Window Treatments
            • Exterior MaterialsBalcony, Dock, Sprinkler Irrigation, Outdoor Kitchen
            • Lot DescriptionLandscaped, Waterfront, Sprinkler System, Paved
            • PoolGunite, In Ground
            • Pool FeaturesGunite, In Ground
            • Elementary SchoolCherry Street
            • Property TypeMulti-Family
            • Sewer InformationPublic Sewer
            • SubdivisionBunkers Cove
            • Property SubtypeMultiFamily
            • Original List Price$1,850,000
            • Cost1850000
            • MLS #781413
            • MLS #781413
            • ViewBayou
            • Middle SchoolJinks
            • Acres0.25
            • Year Built2025
            • Taxes Annual$786
            • High SchoolBay
            • CountyBay
            • Days on Market (Cumulative)24
            • Bedrooms9
            • Bathrooms7
            • Full Baths7
            • Stories2
            • Parking Spaces1

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        IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

        Last Updated: 12/01/2025 at 7:44 PM. Source: CPAR

        Provided By
        Listing Agent: Scott Suber (#B3266)
        Listing Office: Beach Haven Realty (#BHR1)

        Central Bay Realty and Property ManagementReal Estate Group
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