The former Glen Cove Health & Rehabilitation Facility is a waterfront property located on the western bank of Watson Bayou. Kevin Wattenbarger & Associates | SVN Southland Commercial are pleased to present the waterfront redevelopment opportunity of the former Glen Cove Health & Rehabilitation facility located at 1027 E Highway 98, Panama City, FL. The waterfront property is located on Watson Bayou and is also within a federally designated Opportunity Zone Census tract. The Glen Cove redevelopment site is very convenient to two (2) of the largest single-site area employers with Ascension Sacred Heart Bay Medical Center Hospital >1 mile and Tyndall Air Force Base located 8+/- miles from the property. The Glen Cove Health & Rehabilitation Facility was previously licensed as a 115-bed skilled nursing facility and operated as such until the facility and much of the surrounding communities were severely damaged when category Five, Hurricane Michael's eyewall made landfall near Panama City on October 10th, 2018. As a result, Panama City is in the middle of an extensive recovery and rebuilding process, post-Hurricane Michael. The redevelopment of Glen Cove is a rare opportunity to redevelop a large waterfront parcel the possesses GC-2 zoning.
