Catylist ID:
#28553534
591+- Acres Mixed Use
Vacant Land
for Sale
Sale Pending
| Catylist Listing ID: | 28553534 |
| Property Subtypes: | Multi-Family, Residential (Single Family), Retail-Pad |
| Status: | Pending |
| Gross Land Area: | 591 Acres |
| Sale Price: | $12,000,000 |
| Unit Price: | $20,304 Per Acre |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 5/12/2022 |
Overview / Comments
|
The subject consists of 886± acres with 315’ of U.S. Highway 19 frontage. It is located on U.S. Highway 19, north of State Road 50 and Hexam Road, Hernando County, FL. The site is currently zoned under a Development of Regional Impact (DRI). It is one of the largest countywide tracts for residential development in this area. Location: The subject property is located on the east side of U.S. Highway 19 about 3.5 miles north of State Road 50 in western Hernando County, Florida. The location is about fifty miles northwest of downtown Tampa via the Suncoast Parkway and S.R. 50 also known as Cortez Blvd. and is well served with retail including a Publix grocery, Bealls, restaurants, drug stores and a regional hospital. The surrounding area consists of a mixture of agricultural land, transitional land and singlefamily housing and mobile homes with typical retail along S.R. 50 and the Suncoast Parkway exit. Size: 591± acres - 1/3 sold in 1st Takedown Access: Eight access points along U.S. 19, Hexam Road, Weeping Willow Road (extension), and Star Road will serve the Lake Hideaway DRI. Final project access points are yet to be determined based on FDOT and Hernando County access management criteria and review. However, each of these access points will provide a full set of vehicle movements. The project is uniquely situated to take full advantage of the existing roadway network. These existing and additionally planned roadways will serve the project with acceptable levels of service through existing design or through programmed or planned improvements. Zoning: 503 acres for 2,400 single-family, 160 acres for 1,300 multi-family, 20 acres commercial, 20,000 square feet office. The single-family density is 4.77 units/acre and the multi-family is 8.13 units/acre. Takedown: 295 ac sold 10/202/1 for $6,000,000 - Two remaining takedowns This listing has a variable rate commission. |
Additional Details
| Nearest MSA: | Tampa-St. Petersburg-Clearwater |
| County: | Hernando |
| Tax ID/APN: | R15 422 17 0000 0010 0010 |
| Zoning: | DRI IN PLACE OVER 2900 UNITS |
| Market Type: | Medium |
| Property Located Between: | US 19 & Cortez, SR 50 near Veterans |
| Side of Street: | East |
| Road Type: | Highway |
| Property Visibility: | Excellent |
| Largest Nearby Street: | US 19 |
| Transportation: | Highway |
| Highway Access: | US 19, hwy 50, near Veterans Expressway to Tampa |
| Site Description: | Rolling oaks, seasonal lake |
| Area Description: | Close to primary retail, roads, and hospital. Ideal age targeted community |
| Zoning Description: | DRI for over 2900 res units, plus multifamily , retail |
| Topography: | Rolling |
| Easements: | Electric Lines, Water Rights, Utilities |
| Soil Type: | Sandy |
| Available Utilities: | Electric, Water, Gas, Sewer, Cable |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 3,832 | 20,251 | 57,043 |
| Median Age: | 46.61 | 51.37 | 47.23 |
| Households: | 1,508 | 8,768 | 23,291 |
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