ASSUMABLE LOAN AVAILABLE WITH AN INCREDIBLE 2.25% INTEREST RATE!**

Rarely does a property offer this much space, privacy, and waterfront lifestyle in one package. Set on 1.14 acres with approximately 110 feet of frontage along the crystal-clear waters of Lake Merial, 147 Lake Merial Shores is a 4,182-square-foot waterfront retreat designed for those who believe home should be the gathering place for every holiday, celebration, and family milestone. Featuring six bedrooms, a bonus room, three-car garage and expansive indoor and outdoor living spaces, this remarkable estate is where unforgettable lake memories are made.

From the moment you enter, soaring ceilings and beautiful hardwood flooring create an impressive first impression. To the left of the foyer, a stunning floor-to-ceiling custom library provides the perfect setting for a private office, reading retreat, or study. The private library showcases a custom rolling ladder that glides effortlessly along the entire room. Formal living and dining spaces offer flexibility for gatherings, while a dedicated dining room area with a private bar creates an inviting atmosphere for hosting family celebrations and holiday dinners. The grand living room serves as the heart of the home, featuring dramatic 18-foot ceilings and expansive windows that frame picturesque views of the lake beyond. A beautiful wood burning fireplace creates a warm focal point, flanked by custom built-in cabinetry that provides both elegant display space and functional storage while enhancing the room's timeless character.

The well-appointed kitchen offers abundant cabinetry and storage throughout, including an extended custom storage area adjacent to the eat-in kitchen space. A conveniently located half bath near the kitchen enhances the home's thoughtful design and provides added comfort for guests during gatherings and special occasions. The spacious primary suite is located on the first floor, creating a private retreat separate from the additional bedrooms.

Upstairs, you'll find five generously sized bedrooms, two full bathrooms, and a massive bonus room large enough to serve as a home theater, game room, fitness area, or recreation space large enough for a pool table.

Step outside and experience the true beauty of Lake Merial living. Outdoor living takes center stage with a covered back patio and an expansive paver terrace designed for entertaining and relaxation. A private paver pathway meanders through the backyard to the lakefront, creating a seamless connection to the waterfront lifestyle. Whether you're launching a kayak, casting a line, enjoying a sunset cruise, or simply unwinding by the water, Lake Merial becomes an extension of your backyard. The meticulously maintained grounds create a park-like setting, offering plenty of space for outdoor entertaining, backyard barbecues, family gatherings, and making memories with friends and neighbors. Imagine spending Independence Day watching fireworks illuminate the lake, enjoying golf cart rides through the neighborhood, and ending the evening gathered around the water with family. This is more than a home--it's a lifestyle.

Lake Merial is one of Bay County's most sought-after waterfront communities, centered around a beautiful 300-acre spring-fed lake known for its clear waters and year-round recreational opportunities. Residents enjoy community events, walking trails, green spaces, and food truck nights.

Defined by its scale, waterfront setting, and enduring craftsmanship, 147 Lake Merial Shores stands as a distinguished Lake Merial residence, offering the space, privacy, and versatility to accommodate generations while creating an exceptional backdrop for everyday living. As one of only a handful of homes of this size situated directly on the water within Lake Merial, this remarkable property represents a rare opportunity to own one of the community's most significant waterfront estates.

CURRENTLY UNDER CONTRACT, SELLER WILL CONSIDER BACKUP OFFERS. Grand Lagoon waterfront living with Gulf access! Located at 7202 S. Lagoon Drive in Panama City Beach, this 3-bedroom, 4-bath home offers approximately 2,362 square feet and a setting made for enjoying life on the water. The home features a fully equipped kitchen, spacious living areas, and a primary bedroom with an en suite bath and walk-in closet. An upper balcony and lower covered deck overlook the lagoon, providing plenty of space to relax, entertain, or simply enjoy the waterfront setting. The home has also been freshly painted throughout, with new carpet installed in the carpeted areas, giving the interior a fresh, move-in-ready feel for its new owner. Boaters will appreciate the location on Grand Lagoon with direct access toward St. Andrews Bay and the Gulf. The property also includes a double attached garage, ample driveway parking, and a lot extending approximately 130 feet from S. Lagoon Drive toward the water. The existing home and dock configuration are also reflected on the property survey. Adding further perspective to this Grand Lagoon location, the vacant waterfront lot next door sold for $699,000 in April 2026. That neighboring sale provides an interesting point of reference for the value placed on waterfront land along this stretch of S. Lagoon Drive. The location adds another dimension to the property. Grand Lagoon is known as Panama City Beach's ''Gateway to the Gulf,'' with boating, fishing, sightseeing cruises, paddleboarding and other water activities close at hand. Visit Panama City Beach Nearby St. Andrews State Park offers Gulf beaches, swimming, snorkeling, fishing, paddling and access to Shell Island. Visit Panama City Beach The Thomas Drive/Grand Lagoon area also puts local favorites such as Capt. Anderson's | Restaurant & Waterfront Market and The Grand Marlin nearby, along with marinas, charter fishing, dolphin cruises and other waterfront activities. Whether you're looking for a primary residence, beach getaway, or a home base for boating and fishing, 7202 S. Lagoon Drive combines waterfront living with convenient access to many of the experiences that make Panama City Beach special. Thank you for considering this home!

Beautiful canal-front home offering over 2,500 heated square feet with an open, split-bedroom floor plan designed for comfortable everyday living and entertaining. The spacious family room features a vaulted ceiling and wood-burning fireplace, creating a warm and inviting gathering space. The fully equipped kitchen includes a pantry, abundant cabinetry, and opens seamlessly to the main living areas.

The private primary suite offers a generous bedroom and an ensuite bath with double vanities, a garden tub, separate shower, and walk-in closet. Two additional bedrooms are located on the opposite side of the home for added privacy.

Step outside to enjoy Florida living at its best with a screen-enclosed in-ground pool, covered porch, and a large backyard overlooking the canal. Boaters will appreciate the vinyl seawall, covered boathouse, and direct water access. As part of the county's canal dredging project, the canal adjacent to the property was reported to provide an approximate water depth of five feet at Mean High Water (MHW), offering excellent access for many recreational boats. Approximate canal depth is based on the county's dredging information; buyers should verify suitability for their specific vessel and operating conditions. The oversized lot provides plenty of room for outdoor activities and entertaining.

Additional features include a 600-square-foot attached garage, inside laundry, mature landscaping, and a desirable location in King's Point. According to the Bay County Property Appraiser, the home offers 2,567 heated square feet, was built in 1988, sits on approximately 0.48 acres, and is located in Flood Zones X and AE, with the residence itself believed to be in Flood Zone X. Buyer should verify flood zone designation and insurance requirements.

A rare opportunity to own a spacious waterfront home with a pool, private boating amenities, and the lifestyle that makes Florida living so enjoyable.