Catylist ID:
#30752707
112.35 ac Mixed Use I-75 & Overpass Rd. Wesley Chapel
Vacant Land
for Sale
Sale Pending
| Catylist Listing ID: | 30752707 |
| Property Subtypes: | Hospitality, Industrial, Multi-Family, Office, Residential (Single Family), Retail |
| Status: | Pending |
| Gross Land Area: | 112.35 Acres |
| Sale Price: | $18,400,000 |
| Unit Price: | $163,773 Per Acre |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 9/3/2021 |
Overview / Comments
|
PROPERTY DESCRIPTION - "Pasco 75 Gateway" is an opportunity to develop at the I-75 & Overpass Road interchange in Pasco County, FL. The land owned by Wildcat Groves inc. consists of 112.35± acres located on the east side of Interstate 75. The parcels are currently zoned Estate Residential (ER) with plans to rezone to CC-MPUD, a mixed-used plan proposing office, retail, health care, and high density multi-family uses. The new interchange is under construction. LOCATION DESCRIPTION - Located at the NEC of Interstate 75 & Overpass Road in Wesley Chapel, Pasco County, FL. Recent construction has begun on a new interchange at Interstate 75 and Overpass Road (known as Exit 284), bringing more connectivity to northeast Pasco cities, and opens up an east/west route to aid current and future developments in the area including Connected City and the Villages of Pasadena Hills. The surrounding area is abundant with new residential developments currently underway including, Park Meadows along Old Pasco Road, Epperson Ranch and Epperson North (Crystal Lagoons) on Overpass Road, Mirada to the north, and Watergrass. Connected City include's Spectrum ULTRAFi and transformative amenities such as a 15-acre Crystal Lagoon. PROPERTY SIZE - 112.35± Total Acres (77± Upland Acres) on east side of I-75 ZONING & FUTURE LAND USE The current zoning is ER (Estate Residential) and the Future Land Use is EC (Employment Center). The key to entitlements is to opt into the Connected City plan. This should result in - a “CC-MPUD” zoning that is favorable to office, medical, high density multi-family uses as well as fast track approvals. The area is within the “South Innovation Zone” of Connected City. This is some of the most intense zoning in the County and is consistent with what one would expect or wish for at a gateway intersection off of a high-traffic interstate highway. By opting into Connected City, there will be impact fee credits for the development of the new road alignment and construction of Boyette Road to connect to present-day McKendree Road to the North. UTILITIES - A major Pasco County regional sewer treatment plant is located south of Overpass Road along I-75. Potable water is available along Overpass Road. Reclaimed water is adjacent to the property. PARCEL ID - 29-25-20-0000-00300-0000 |
Additional Details
| Nearest MSA: | Tampa-St. Petersburg-Clearwater |
| County: | Pasco |
| Tax ID/APN: | 07-26-20-0000-00100-0013 |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 2,010 | 30,023 | 75,569 |
| Median Age: | 33.45 | 36.08 | 37.38 |
| Households: | 693 | 10,354 | 26,995 |
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