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- 1805 Alhambra St. Navarre, FL 32566
3900 Marriott Drive, Panama City Beach, FL 32408 (MLS# 989906)
$3,500,000
Panama City Beach, FL 32408
MLS# 989906
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Property Description
Alee Development Partnership or Full Acquisition ALEE is structured to provide investors two compelling paths: 1. Development Partnership - A $3.5M equity investment for 26.5% ownership of the total project. This equity fuels the transition to vertical construction under a SmartBank term sheet and positions investors to share proportionally in cash flows, appreciation, and sale proceeds. 2. Full Acquisition - The option to acquire the fully entitled site (inclusive of architectural & engineering plans, amended condo docs, and completed $2M commercial building) for $11.75M.
Details
Maps
Documents
None
Current Price: $3,500,000
Status Change Info
Status: Active
Contract Info
GCCMLS Number: 43801132
List Date: 2025-11-07
List Price: $3,500,000
Listing Board: Emerald Coast
Location Tax and Legal
Area: 27 - Bay County
Street #: 3900
Street Name: Marriott
Street Suffix: Drive
State: FL
Zip Code: 32408
County: Bay
Parcel ID: 31373-000-000
General Property Info
Listed on GCCMLS: Yes
Property Information: ALEE is structured to provide investors two compelling paths:
1. Development Partnership - A $3.5M equity investment for 26.5% ownership of the total project. This equity fuels the transition to vertical construction under a SmartBank term sheet and positions investors to share proportionally in cash flows, appreciation, and sale proceeds.
2. Full Acquisition - The option to acquire the fully entitled site (inclusive of architectural & engineering plans, amended condo docs, and completed
Vacant: Yes
Immediate Occupancy: Yes
Acreage: 4.32
Lot SqFt: 125000
Zoning: Multi-Family
Future Land Use: This investment property is ready to build and will be multi-family condo with 56 units plus retail
Land
Property Type: Commercial
Multi-Family
# of Units: 56
# Stories/Buildings: 5
Office
Property Type: Low Rise
# of Units: 56
Retail
# of Units: 56
Property Features
Class: Land; Multi-Family; Office; Retail
Construction Status: Existing; Proposed; Under Construction
Sale Type: Real Estate Owned
Supplements
Executive Summary |
ALEE: The Next Icon of Waterfront Living
ALEE is redefining coastal luxury in Northwest Florida. Anchored within the prestigious BayPoint master-planned community and directly adjacent to The St. Joe Company's Point South Marina, ALEE represents the final undeveloped marina-front parcel of its kind in Bay County a once-in-a-generation opportunity to create a landmark destination on the Emerald Coast.
The 4.32-acre site is approved for 56 luxury condominium
residences averaging over 2,000 square feet each, with expansive
350+ SF decks, private parking, and sweeping views of St. Andrews Bay. Designed with the timeless architectural sensibility of Alys Beach and Rosemary Beach, ALEE combines Bermudan-inspired forms with modern functionality courtyards, rooftop terraces, and lush pedestrian walkways that blend high-end residential, boutique retail, and social space into a seamless waterfront community.
The development includes ~10,000 square feet of curated retail and restaurant space, three resort-style pools, a members' club with pool and bar, and a business and wellness center (See Photo Renderings). Development opportunity is within .2 miles of the marina and its 180 new state-of-the-art boat slips and close to the Intercoastal Waterway.
Bay County Property Appraiser Listing Office: Blumac Realty
Last Updated: December - 03 - 2025
All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2026 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.