13 +/- Acre Multifamily Development Site

Vacant Land for Sale
Sale Pending/Contingent
Catylist Listing ID: 30642852
Property Subtypes: Multi-Family, Residential (Single Family)
Status: Pending/Contingent
Gross Land Area: 13 Acres
Sale Price: $1,200,000
Unit Price: $92,307 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/23/2022

Overview / Comments

This residential development site, located in rapidly-growing northern Manatee County is on Moccasin Wallow Road between US-41 to the west and Interstate 75 to the east. Its central location makes it a short drive to downtown St. Petersburg and Tampa to the north and Bradenton, Lakewood Ranch and Sarasota to the south.

The 13+/- acre site is ideal for a small apartment project, townhomes or a build-for-rent community. It's possible that the site could be rezoned for up to 78 units with a rezone to Planned Development-Residential. This is one of the fastest growing areas of Manatee County with over 23,000 residential units approved or under construction. The site is in close proximity to a Circle K and 7-Eleven convenience store, Dollar General, a new Publix shopping center, a brewery and other restaurants.

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Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Manatee
Taxing Authority: Manatee County
Tax ID/APN: 629600008
Property Located Between: US-41 & I-75
Property Visibility: Good
Highway Access: US-41, I-75 & I-275
Area Description: The subject property is located in northern Manatee County, a midsized county on the West Coast of Florida. The property, located on Moccasin Wallow Road, is less than a half mile from US-41 to the west and 1.5 miles to Interstate 75 to the east. It is also 1.5 miles to Interstate 275. The property is a short 25 minute drive to downtown St. Petersburg, 30 minutes to downtown Sarasota and 40 minutes to Tampa. Due to its central location to all of these larger cities, this area of Palmetto is a great bedroom community, with significant residential demand. The North River market has seen significant residential and commercial development over the past 5+ years, including 23,000+ residential units approved or under construction and numerous other commercial/retail projects. Large employers including Port Manatee, The Ellenton Premium Outlets, Feld Entertainment, Sysco and ItWorks! are all located north of the Manatee River. Other projects in the general vicinity of this project include Taylor Morrison's Esplanade at Artisan Lakes subdivision, a brand new Publix shopping center and multiple luxury RV resorts. With all of the new residential growth in this area, Manatee County opened a new high school and elementary school in the fall of 2019 and a new State College of Florida campus is proposed. Manatee County is currently in the land acquisition phase of a road widening project that will eventually widen Moccasin Wallow Road to 6 lanes. Moccasin Wallow is designated as one of two major arterial roadways north of the Manatee River in the Manatee County 2035 traffic plan. This will greatly improve accessibility from this property to the new schools and other amenities to the east.
Zoning Description: Potential to rezone to Planned Development-Residential. Future Land Use may allow for max of 78 units

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,436 11,792 42,303
Median Age: 67.97 46.95 46.44
Households: 742 4,821 17,406
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