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8829 N Lagoon Drive

Panama City, FL 32408

$1,120,000 $4,721/Mo

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Overview

Bed

Bath

0.46

Acre(Lot)

Description

Poseidon's Palace | Fully Furnished Turnkey Waterfront Living with Direct Access to St. Andrews Bay & the Gulf of Mexico Experience the very best of waterfront living at Poseidon's Palace, a fully furnished, turnkey North Lagoon retreat where luxury, recreation, and income-producing opportunity come together. Whether you're searching for a stunning primary residence, an unforgettable second home, or a proven income-producing vacation rental, this exceptional property offers a rare combination of modern upgrades, resort-style amenities, and an unbeatable coastal lifestyle. Perfectly positioned on North Lagoon, you'll enjoy direct boating access to St. Andrews Bay and the Gulf of Mexico from your private dock, making it easy to spend the day fishing, paddleboarding, kayaking, cruising to Shell Island, or arriving by boat at some of Panama City Beach's favorite waterfront restaurants. After a day on the water, unwind in the heated pool, soak in the year-round hot tub, or relax beneath the oversized covered patio overlooking your private waterfront oasis. Thoughtfully renovated with quality and craftsmanship throughout, the home underwent an extensive transformation in 2022 featuring a beautifully redesigned kitchen, fully renovated bathrooms, new luxury vinyl plank flooring throughout, fresh interior and exterior paint, new doors and hardware, recessed lighting, and a completely rebuilt dock. In 2023, the home was further enhanced with two new HVAC systems, a resort-style pool with an app-controlled gas heater, expansive paver pool deck, oversized covered patio, and a large composite waterfront deck designed for entertaining and maximizing the incredible outdoor living experience. Additional upgrades include a tankless water heater and commercial-size refrigerator and freezer, providing exceptional functionality for everyday living or hosting large gatherings. Designed to comfortably accommodate large families and groups, the spacious floor plan offers generous indoor and outdoor gathering spaces that seamlessly blend comfort, style, and functionality. Whether you're hosting unforgettable summer barbecues, watching breathtaking sunsets from the dock, enjoying evenings beneath the string lights, or simply relaxing by the water, every detail of this home was designed to embrace the very best of waterfront living. Ideally located just minutes from the white-sand beaches of Panama City Beach, marinas, shopping, dining, entertainment, and St. Andrews State Park, you'll enjoy the perfect balance of peaceful waterfront living with convenient access to everything the Emerald Coast has to offer. An equally compelling opportunity for investors, this home has an established track record of outstanding short-term rental performance, generating approximately $152,000 in gross rental revenue in 2024 and $170,000 in 2025. While 2026 revenue reflects a planned period during which the property was intentionally unavailable for approximately eight weeks, it should not be viewed as representative of the home's annual income potential. Complete rental history and financial information are available upon request. Every major improvement has already been completed, allowing the next owner to simply arrive, embrace the waterfront lifestyle, and begin creating unforgettable memories--or continue the home's proven success as one of Panama City Beach's premier waterfront vacation rentals. An equally compelling opportunity for investors, Poseidon's Palace has an established history as a high-performing vacation rental, generating over $322,000 in gross revenue over the past two full calendar years. While 2026 revenue reflects a planned period during which the property was intentionally unavailable for approximately eight weeks, it should not be viewed as representative of the home's annual income potential. A detailed Property Performance & Investment Package is available upon request for qualified buyers.

Property Details

Property Type : Residential

Price : $1,120,000

AD Id : 89390714

MLS Id : 793814

Beds : 4

Lot Size : 0.46 Acre

Tax Amount : $9,175.47

Year Built : 1967

County : Bay

Subdivision: Forest Shores

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total beds: 4

Bathroom Information

Total Baths: 3 Full Baths: 3

Room Information

Rooms Total: 4
Interior Features

MainLevelPrimary

Appliances: IceMaker
Heating & Cooling

Has Heating: Yes Heating: Central, NaturalGas Has Cooling: Yes Cooling: CentralAir Water front: 1

Building Information

Year Built: 1967

Building Area Total: 3138

Construction Materials: Brick, Other, SeeRemarks

Stories: 2

Pool Features: Gunite, ElectricHeat, InGround, Other, Private

Private Pool: Yes

Water front Features: CanalAccess

View: Canal, Lagoon

Lot Information

Lot Dimensions: 100.0 ft x 200.0 ft Main Square Feet: 0.46 Lot Size Acres: 0.46 Lot Size Square Feet: 19,602

Property Information

Subdivision: Beachside East Source Property Type: Residential MLS Area Minor: 0319 - Beach - East Property SubType: Single Family Residence Levels: Two Property Age: 59

Listing Price Information

Listing Price: $1120000

Tax Information

Parcel Number: 30218-000-000 Tax Year: 2025 Annual Tax: $9175.47 Tax Legal Desc: 6 4S 15W -11.222- BEG 337.5' EAST & 1722.5' SOUTH OF THE NW COR OF NE1/4 OF NW1/4 TH RUN S54 E 767.65' ALONG SLY R/W LINE OF N LAGOON DR FOR POB TH CONT SELY ALONG SAID R/W LINE 100' TH 90 TO THE RIBHT 200' M/L TO WATERS OF GRAND LAGOON TO A POINT 90 FROM POB TH RUN NELY 200' M/L TO POB AKA LOT 8 BLK 3 OF LAGOON HEIGHTS UNREC. DB 234 P 63 ORB 4457 P 2096

School Information

Elementary School: Breakfast Point Junior High School: Breakfast Point Senior High School: Arnold
Utility Information

CableConnected, ElectricityAvailable, NaturalGasAvailable, SewerAvailable
Location Information

Direction: Turn left onto Front Beach Rd Turn right onto Joan Ave Turn left onto N Lagoon Dr Turn right Home is located just off of N Lagoon.

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