Premium Site, Zoned for High Density Residential developement

Vacant Land for Sale
Catylist Listing ID: 30168073
Property Subtypes: Multi-Family, Other
Gross Land Area: 4.50 Acres
Sale Price: $279,000
Unit Price: $62,000 Per Acre
Adjacent Parcels Available: Yes
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 5/1/2018

Overview / Comments

Great opportunity for Developers! Zoned for High-Density Residential, this premium site includes 3 parcels (see alt key's 3476786, 2334487, and 1948860) for a total of 4.5 acres, plus a 2-story home with guest suite. A developer could not ask for a better location! 4-lane highway frontage in an exploding development area that is within 3 miles of the Suncoast Parkway's final extension. Potential uses include Affordable housing, Senior housing, Workforce housing, Market-rate Multifamily and more. Access to sewer and water is available, but currently across Norvell Bryant Hwy, to the south. Boring under Norvell Bryant has been confirmed to be possible with Citrus County. Higer density development is possible with a Planned Unit Development. A variance will be required due to the size of sites. Ability to get approval of variance has been confirmed through Citrus County.

Additional Details

Nearest MSA: Homosassa Springs
County: Citrus
Taxing Authority: Citrus County
Tax ID/APN: 3476786, 2334487, and 1948860
Property Located Between: Crystal River & Lecanto
Property Visibility: Excellent
Legal Description: See Exhibit A document - attached
Largest Nearby Street: Gulf to Lake Highway (44)
Feet of Frontage: 200
Highway Access: East & West 4 lane highway access with curb cuts located within 1/2 mile of subject parcels
Airports: Crystal River Airport is 5 miles
Site Description: 3 lots combined totaling ~4.5 acres.
Area Description: Area is seeing high amounts of commercial activity.
Zoning Description: This is the highest density residential district and is representative of a compact urban growth area. This category primarily allows for multifamily units. Residential development is allowed at a density of 6.0 units per acre. Higher density developments, 6.1 to 20.0 units per acre, may be permitted if additional standards are met including a PUD as outlined in Chapter Four of the Citrus County LDC. Multi-family apartments built as additional stories over nonresidential structures may be allowed in accordance with the density amounts within the Citrus County LDC.
Topography: Gently Sloping
Soil Type: Sandy
Available Utilities: Electric, Cable
Water Service: Well
Sewer Type: Septic

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 14,280 34,443
Median Age: 54.05 54.05
Households: 6,279 15,369


Photograph of Listing Agent

David Bramblett

Active Agent Realty, LLC FGCAR CIE Member
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