Charles River in MA has two holes like this with borderline yardages, #7 and #10, both roughly 500 yards from the back tee (although they were building another further back on 7). Back-tee tournaments tend to play them on the card as par fours, like they did during the US Amateur where CR was the secondary course.
10 especially fits the dual par as there is a slope reachable by longer players that will send drives 50+ yards forward, but only after a 275y+ drive. 7 is a dogleg that can be cut by long players, leaving a mid-iron or less into the green.
The way these holes are, and the way that this should perhaps be handled, is by an intricate green that offers interest for both wedge third shots for shorter players, or interest in short game for the many second shots that will end up around the green for longer players. I think the goal is that making 4 should be a challenge whether a par 4 or 5 on the card.