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4 Beds
2 Baths
2,114 sqft

$600,000

321 Massalina Drive, Panama City FL, 32401

Price per sqft$283.82
Built in1938
Property size2,114 sqft
Property typeResidential

Overview

Active

Listed Nov 3, 2026

Updated 39h ago

Discover an incredible WATERFRONT opportunity in the Cove on Massalina Bayou! This home is full of original character and ready for its next chapter. Whether that's a loving restoration for the Buyer who thrives on bringing a classic back to life, or a blank canvas to build the waterfront masterpiece you've been dreaming of. Sitting on .49 acres, this homesite is 95' wide by 225' deep and has endless possibilities. The homesite offers 95' water frontage, .49 acres, alley access and high elevation. This is a setting that's nearly impossible to find in the Cove neighborhood. Enjoy the best of Cove living with walkable access to the neighborhood's waterfront parks, oak-tree lined streets and tight-knit community, plus just minutes to downtown Panama City's restaurants, marina, and events. Launch the boat, cruise on the golf cart to dinner, and watch sunsets from your yard. Bring your vision, your contractor, and your imagination. Build your dream home or renovate and restore! Enjoy alley access on this waterfront homesite where a mother-in-law suite or an income producing unit is highly desired. Build a garage for all the tools, projects and cars. Fix it, flip it or demo it. The choice is yours! This property is being sold as-is. The house and dock are in need of repair/demolition. Buyer to verify all details.

$3,992/mo

Est. mortgage payment based on a $600,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
1014777

Interior Features

Bedrooms
4
Bathrooms
2
Cooling
Yes
Basement
No

Exterior Features

Lot Size
0.49 Acres

Other Property Details

Taxes
$1,547
Tax Frequency
Annually
View
Yes
Waterfront
Yes

Also listed on BCMLS

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Courtesy of Corcoran Reverie SRB, 
Listing Contact: [email protected] 

IDX information is provided exclusively for consumers’ personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Lisa Moyer shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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Data last updated 3:43 AM UTC, 11/4/2026

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