Miracle Strip Sold?

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A Panama City Beach landmark may be opening its doors for its last summer season. Miracle Strip Amusement Park has been targeted by a residential developer, and the price may be too good for park owners to turn down.

After 40 years on Panama City Beach the local treasure known as Miracle Strip Amusement Park may be shutting down, and many say they will be sad to see it go.

We learned Friday Miracle Strip owners have a buyout offer on the table. Both parties could finalize a contract within the next couple weeks. The deal does not include the Shipwreck water park across the street. It will stay open for business. Even if Miracle Strip is sold the park will open its doors as scheduled Saturday at 2 p.m. and stay open all summer.

We know the offer is for the land only, not the amusement park equipment. There's hope the park will find a new home on the beach, but for now nothing is definite.

The company rumored to be making the offer is a condo developer, so if they get the property odds are it will be a residential area. However, it's anyone's guess if another buyer comes in with a better offer. In fact, these kinds of buyouts are happening all over our beach. With the beachside basically sold out to developers, many entrepreneurs are looking to the north side of Front Beach Road for businesses that will compliment all the new condos.

Beach business owners say Miracle Strip's possible sale is just another example. The amusement park employs 42 people year round and several hundred during the spring and summer tourist season.