Address

5903 Gulf Drive, Panama City Beach, FL

Listing Type

Active

Price

$ 1,899,000

Property Attributes

MLS#786283
TypeSingle Family
Listing Status Active
CountyBay
CityPanama City Beach
Area03 - Bay County - Beach
NeighborhoodGulf Lagoon Beach
Zip32408
Style
Year Built1982
Taxes$ 8599
Price$ 1,899,000
Bedrooms3
Full Bathrooms2
Half Bathrooms0
Sqr Footage1296
Lot Size0.08 Acres

Data Source:

Central Panhandle Association of REALTORS® (CPAR)

Property Description

Gulf Front | Rare Deeded Land to the Water's Edge | No HOA! Welcome to The Palapa House, a Gulf-front residence positioned directly on the sugar-white sands of the Gulf of America, with deeded ownership extending to the water's edge. Fewer than 7% of Gulf-front parcels in Panama City Beach offer this level of private beachfront ownership, making opportunities like this exceptionally rare. Originally designed by the architects of Regency Towers, the home is positioned farther onto the beach than neighboring properties, ensuring unobstructed panoramic Gulf views to the east and west. Step from your back door onto your private stretch of beach or relax beneath the city-approved private Palapa, made possible by the extended property lines reaching the water's edge. The palapa's thatched roof was replaced in Fall 2025. The upstairs Gulf-front balcony is accessed from the main family room and offers sweeping sunrise & sunset views. On the lower level, a beachside deck is accessible from the second bedroom and opens directly to the sand. A private boardwalk extends from the front porch to the beach, and an exterior shower on the rear boardwalk provides convenient sand removal after leaving the beach. Major improvements include a new GAF roof system with new roof decking and fascia board, backed by a 15-year wind and material warranty installed in July 2025. A new Siemens 200-amp circuit breaker panel with corrosion-resistant copper wiring was installed in 2025. The exterior was upgraded with Tyvek vapor barrier, Hardie plank siding and trim, and fully painted with Sherwin-Williams exterior paint. All decks were stained with Super Deck marine stain and all windows were freshly caulked. The home passed a professional 4-point and wind inspection in 2025, resulting in a 17% reduction in homeowners insurance premium. The interior and exterior have been freshly painted and luxury vinyl plank flooring runs throughout the home. Additional upgrades include new ceiling fans, updated bathroom light fixtures, new smart TVs with upgraded WiFi, new locks and security features, new kitchen accessories, and solar film installed on all windows to improve energy efficiency during extreme weather conditions. The living room features a 3-D glass electric fireplace with optional heat and color-changing flame. New lighting and updated family room, dining room, and bedroom furniture and accessories enhance the home's coastal design. The kitchen and baths were previously remodeled, and the home is offered beautifully furnished. Appliances include electric range, microwave, dishwasher, refrigerator, washer and dryer. This three-bedroom home comfortably sleeps 11, including Twin XL bunks, a newer queen mattress in the downstairs bunk room, and a queen sleeper sofa. The primary bedroom is located on the second floor for privacy and separation. Exterior features include mature palm trees, an 8x40 privacy fence, covered porch areas, private driveway parking, and two beach decks with custom cable rails. High-end Sunbrella outdoor furniture was added in April 2021. The property consistently rents more than 200 days per year with documented rental income available upon request. Daily and weekly rental structure is already in place. Flood insurance remains favorable due to grandfathered mapping status. Located near St. Andrew State Park, Shell Island, marinas, waterfront dining, and public boat access, this is Gulf-front ownership at its rarest. Private, deeded, income-producing, and architecturally positioned for unobstructed views. This is not simply a beach house. It is a generational Gulf-front asset.

Elementary School	Middle School	High School
Patronis Elementary School	Surfside Middle School	Arnold High School

Price History
3/5/2026	Listed $1,799,500
5/21/2026	6$1,899,000

General Features

Sewer	PublicSewer
Utilities	CableConnected,HighSpeedInternetAvailable
Property Subtype	SingleFamilyResidence
Tax Year	2025
Community Features	ShortTermRentalAllowed
County	Bay
Property Type	Residential
HOA	false
Subdivision Name	Gulf Lagoon Beach
Special Listing Conditions	ListedAsIs
Status	Active
Directions	Travel south on Navy Blvd. Turn right at the big curve onto Thomas Dr. Turn left onto Nova St. next to Regency Towers. At the end of Nova St., turn left. 5903 Gulf Dr is the last house on the right.
High School	Arnold
City	Panama City Beach
Zoning Description	Resid Single Family
MLS Area	03 - Bay County - Beach
Lot Size Units	Acres
Lot Size Square Feet	3485
Elementary School	Patronis
Tax Annual Amount	8599
Middle/Junior High School	Surfside
MLS Area Minor	0323 - Beach - South of Grand Lagoon
Standard Status	Active
Property Sub Type Additional	SingleFamilyResidence
Other Structures	Other
Occupancy Type	Tenant
Waterfront Features	Gulf,ShorelineSand
Year Built	1982
Heating	Central,Ductless,Electric,Fireplaces
Cooling	CentralAir,CeilingFans,Ductless
Appliances	ElectricRange,ElectricWaterHeater
Patio/Porch Features	Deck,Balcony
Construction Materials	HardiplankType,WoodFrame
View	Gulf
Attached Garage	false
Garage Y/N	false
Total Rooms	8
Full Baths	2
Architectural Style	Coastal
Stories Count	2
Levels	Two
Security Features	CarbonMonoxideDetectors,SecurityLights,SmokeDetectors
New Construction	false
Roof	Shingle

Interior Features

Total Baths	2
Interior Amenities	TubShower
Furnished Units	AllUnits
Air Conditioning Y/N	true
Heating Y/N	true
Fireplace Y/N	true
Total Bedrooms	3
LivingAreaSource	Appraiser
Total Stories	2
Fireplace Features	Electric

Exterior Features

Lot Features	Paved
Lot Size Area	0.08
Lot Dimensions	14x246
Lot Size Acres	0.08
Building Area Total	1296
Waterfront Y/N	true
Exterior Amenities	CoveredPatio,OutdoorShower
Fencing	Partial
Foundation Details	PillarPostPier