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$12,000,000
Est. payment /mo
305.77 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Agricultural
Listing Status Active
Purchase Type For Sale
MLS Listing ID L4958007
HOA Y/N No
Annual Tax Amount $1,244
Lot Size 305.770 Acres
Acres 305.77
Lot Dimensions irr
Property Sub-Type Agricultural
Source Stellar MLS
Property Description
The HWY 557 Lake Alfred property (Parcel ID: 262708000000012010) spans 305 acres, with approximately 92 acres of developable land, and is strategically located just 45 minutes (39.6 miles) from Orlando International Airport and 38 minutes (27.3 miles) from Walt Disney World. Currently zoned for agriculture at one dwelling unit per five acres, the site yields about 20 lots, but its contiguity to the City of Lake Alfred offers a strong opportunity for annexation, unlocking access to city water and sewer and enabling rezoning to a much higher density. With a Village Residential designation allowing four units per acre, the property has a projected yield of roughly 408 units. Directly across SR 557, Meritage Homes' Silver Lakes community has already extended water and sewer infrastructure to their entrance, enhancing feasibility for development. CR 557 is scheduled to be widened to four lanes beginning in summer 2025, with completion expected in three years, and a roundabout will be added at the intersection of CR 557C and CR 557 to improve traffic flow. A five-acre retention pond adjacent to CR 557 will slightly reduce the total developable acreage. The property sits within an active development corridor with major builders such as Pulte, DR Horton, Meritage, and American Homes driving growth, and additional utility extensions by nearby projects will further support development. While the site benefits from strong accessibility and regional demand, considerations include its location within a 100-year flood zone requiring fill and flood insurance, areas of poorly drained soil, and an irregular parcel shape that may constrain layout and reduce final lot yield. Entitlement approvals for annexation, land use amendment, and rezoning are required, but all have a high probability of success and can be pursued concurrently, with an estimated approval timeline of six to twelve months.
Location
State FL
County Polk
Area 33868 - Polk City
Zoning RC
Exterior
Utilities Available Electrical Nearby, Sewer Nearby, Water Nearby
Building
Lot Description In County, Irregular Lot, May Need To be Filled, Paved
Lot Size Range 200 to less than 500
Sewer None
Water None
Others
Ownership Fee Simple
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition None
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Listed by Michael Norris NEXTHOME NORRIS & COMPANY REAL