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3 Beds
5 Baths
4,000 sqft

$2,850,000

518 Bunkers Cove Road, Panama City FL, 32401

Price per sqft$712.50
Built in1940
Property size4,000 sqft
Property typeResidential

Overview

Active

Listed Sep 10, 2026

Updated 6 days ago

Experience timeless elegance and waterfront serenity in this extraordinary Mediterranean-inspired estate, perfectly positioned on a sprawling bayfront lot. From the moment you arrive, the home's graceful arches, warm architectural details, and inviting courtyard create an unforgettable first impression, setting the stage for a lifestyle defined by beauty, comfort, and coastal charm. Inside, the residence unfolds with refined sophistication. A spacious living room anchored by a stunning fireplace opens to breathtaking bay views, creating the perfect setting for both relaxed evenings and elegant entertaining. The formal dining room showcases exquisite custom plaster-finished walls, offering a rich and artistic backdrop for memorable gatherings. At the heart of the home, the chef's kitchen is as functional as it is beautiful, featuring a striking brick accent wall, double ovens, a gas range, and an oversized island with a butcher block top. Sunlit and inviting, the eat-in kitchen overlooks both the tranquil koi pond and the sparkling bay beyond, seamlessly blending indoor and outdoor living. Just off the kitchen, a cozy sitting room with its own fireplace provides the perfect retreat for quiet mornings or intimate conversations. The thoughtfully designed split floor plan offers privacy and comfort, highlighted by a luxurious master suite that includes a rare original 1940 greenhouse feature, adding a touch of history and charm. The spa-like master bathroom invites relaxation with a large soaking tub, separate shower, and an expansive walk-in closet. Three additional bedrooms, each with their own full bathrooms, ensure comfort for family and guests alike, with one guest suite featuring its own fireplace for added warmth and character. A gallery-style hallway runs through the home, offering the perfect space to display art and personal collections. Outdoors, the property transforms into a true private oasis. Multiple water features, including a beautifully stocked koi pond, create a peaceful, resort-like atmosphere. The custom covered patio and pergola with an outdoor fireplace and built-in grilling area make entertaining effortless, while the expansive lawn stretches to the water's edge, complete with a seawall and direct bay access. Adding a sense of fun and uniqueness, the grounds also feature a zip line and a custom playhouse, making this estate as playful as it is luxurious. Blending classic Mediterranean architecture with modern comforts and unparalleled waterfront living, this one-of-a-kind property offers a lifestyle that is both elegant and unforgettable. Whether enjoying quiet sunsets over the bay or hosting gatherings under the stars, this home is a rare opportunity to own a true coastal masterpiece.

$18,961/mo

Est. mortgage payment based on a $2,850,000 home price.

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

Additional information

MLS® ID
1011673

Interior Features

Bedrooms
3
Bathrooms
5
Heating
Yes
Basement
No

Exterior Features

Lot Size
1.22 Acres

Other Property Details

Taxes
$7,499
Tax Frequency
Annually
View
Yes
Waterfront
Yes

Also listed on BCMLS

MLS provider logo

Courtesy of Century 21 Commander Realty Inc, 
Listing Contact: 850-819-5858 

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Data last updated 5:58 AM UTC, 9/11/2026

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