Affordable Commercial Land Bank Opportunity 5666 S Florida Ave Terrain 1,29 ha À vendre 194 692 € Floral City, FL 34436

Strategically positioned on the outer northern edge of the Tampa MSA in unincorporated Citrus County, Florida, this 3.19-acre parcel offers a rare opportunity to secure commercial land with high development potential. Zoned GNC (General Neighborhood Commercial), the site boasts approximately 620 feet of direct frontage on US Highway 41, with a traffic count of approximately 18,200 AADT, and enjoys full median-cut access accommodating both northbound and southbound traffic flows. This high-intensity commercial zoning allows for a wide variety of uses including retail, shopping centers, medical and professional offices, gas/convenience stations, and auto or marine repair. Additionally, the site supports multifamily development of up to 10 units per acre, contingent upon a PUD approval, making it a highly versatile investment option.
Topography is gently rolling with the majority of buildable areas positioned above the base flood elevation (BFE 29.3’), minimizing site prep and potential fill costs—GIS data indicates portions of the site exceed 37’ in elevation. The property is centrally located with easy access to surrounding growth markets: Lecanto (17 miles), Beverly Hills (20 miles), Crystal River (24.5miles), and Homosassa (20 miles). Citrus County, home to 153,600 residents, is projected to grow to 350,000 by 2030, driven by strategic infrastructure investments such as the $135+ million Suncoast Parkway extension which enhances regional connectivity and positions Citrus as a key gateway to the Tampa–St. Petersburg–Clearwater metro—the 18th largest MSA in the U.S.
Within a 15-minute drive, the site serves a population of 17,551 residents with a median household income of $53,000 and an average age of 61.2, aligning with demand for essential services, medical, and retail development. With its prime US-41 visibility, zoning flexibility, favorable topography, and access to a rapidly expanding population base, this parcel offers a unique and affordable development opportunity in one of Florida’s fastest-growing regions.

Key Highlights:
-Location: 5666 S Florida Ave, Floral City, FL
-Zoning: GNC – allows retail, medical, office, auto, marine, multifamily (PUD)
-Frontage: ±620’ on US HWY 41 with full median cut
-Topography: Mostly above 37’ elevation (BFE 29.3’)
-Traffic Count: ±18,200 AADT
-Utilities: Available at the road
Proximity to Key Markets:
-17 miles to Lecanto
-20 miles to Beverly Hills
-24.5 miles to Crystal River
-20 miles to Homosassa
Demographics (15-Minute Drive):
-Population: ~17,551 residents
-Median Household Income: ~$52,562
-Average Age: ~61.2 years
Site Development Analysis (Example Only – Subject to Final Engineering and Permitting)
-Subject Property: 5666 S Florida Avenue, Floral City, Florida 34436
-Parcel Size: 3.19± Acres | Zoned GNC – General Neighborhood Commercial
Scenario A: 10 Units/Acre Multifamily Development (PUD Required)
Assumed Buildable Area: Based on elevation (36–46 ft) and avoiding flood-prone AE zones, 1.5 acres is considered viable for pad construction.
Zoning Density Cap: 10 units/acre (via PUD approval)
Total Units Possible: 10 units/acre × 1.5 acres = 15 units
Assumptions:
-Unit Mix: 1,000–1,200 SF garden-style apartments
-Building Style: 1–2 story slab-on-grade with surface parking
-Site Plan Elements: Stormwater retention, fire lane access, landscape buffer, ingress/egress from US-41
Estimated Site Work Requirements (from the report):
-Fill Volume: ~2,600 cubic yards
-Estimated Fill Cost: $68,000–$117,000
-Estimated Truckloads: ~286
Development Considerations:
-Requires engineered septic or off-site wastewater agreement (no municipal sewer)
-PUD approval with Citrus County required for multifamily use
-Access management plan and FDOT entrance permit likely needed
Use Case Viability:
Given Citrus County’s aging population, demand for age-restricted or senior-friendly multifamily product may align well with surrounding demographics (Avg. age ~61). Targeting affordable or workforce housing may also be viable.
Scenario B: Multi-Unit Medical Office Complex
Assumed Buildable Area:
Same 1.5-acre pad above BFE threshold (36–46 ft elevation)
Program Assumption:
Total Building Area: ±12,000–14,000 SF (can accommodate 3–5 tenants)
Configuration: Multi-tenant medical/professional building with 4–5:1 parking ratio
Construction Type: Concrete block or metal frame with stucco or stone veneer
Parking: ±50–60 surface spaces required
Development Highlights:
High local demand for medical services given the mature local demographic and lack of new supply in Floral City
Excellent visibility and access from US-41 arterial corridor
Zoning (GNC) permits medical and professional office use by-right
Estimated Site Work Requirements (same as above):
Fill Cost Range: $68,000–$117,000
Pad Elevation Target: 38 ft
Infrastructure: Septic and well (limits intensity, but supports small multi-suite use)
Additional Considerations:
The site would benefit from a central stormwater pond design to minimize impervious surface runoff toward flood-prone areas
Elevated mechanicals, floodproofing, and possible back-up generator installation advised for medical use
Subdivision of suites for dentists, urgent care, physical therapy, and senior health could enhance long-term occupancy
Final Conclusion Summary
After evaluating both development paths, medical office development emerges as the highest and best use for the following reasons:
Higher estimated profit margin ($384K vs. $235K)
By-right zoning allows for immediate planning without PUD approval delays
Local demographic support (avg. age 61+) favors medical tenancy
Triple-net lease potential offers stable long-term cash flow with reduced operational risk
Stronger cap rate environment with higher resale appeal to medical investors and REITs
Recommendation:
Proceed with planning for a medical/professional office complex targeting 3–5 suites (e.g., urgent care, physical therapy, dental, imaging) with efficient site layout, stormwater retention, and elevated mechanicals to mitigate floodplain proximity.