🏝 Valrico FL | ✨11.154 Acres of Land ✨| Potential Construction of 26-35 SFRs 🏡

Description

🏝 VALRICO FL | ✨11.154 ACRES OF LAND ✨| POTENTIAL CONSTRUCTION OF 26-35 SFRS 🏡

An opportunity to purchase two adjacent buildable lots in Valrico, FL 33596. Lot 1 is 2.014 acres and zoned residential, while Lot 2, east of Lot 1, is 11.154 acres and zoned AS-1 (Agricultural). To fully utilize the land in its best use, the buyer will need to apply to the township for a variance to re-zone Lot 2 to residential.

Best Use: The construction of 26 single-family residences (SFRs) conservatively, and up to 35 SFRs, each at 2,800 square feet and positioned on a 10,000 square foot lot.

The estimated build cost is $150 per square foot, with an after-build value (ABV) of $600,000 per home. At 26 homes, the total build cost would be $4,200,000, and the ABV would be $15,600,000, indicating a potential profit of around $4.2M using conservative numbers.

Clearing the land and the existing three homes on the lot will need to be considered when determining your maximum allowable offer (MAO). Currently, AS-1 Zoning allows for the construction of one home per acre, with homes ranging from 3,000 to 4,000 square feet and selling prices between $600,000 and $675,000.

Alternatively, without variance approval, build eleven 4,000 square foot single-family residences (SFRs) with after-build values (ABVs) of $675,000, to make this a true win-win situation.

✨Property Highlights✨
11.154 Acres of land across 2 lots

Lot 1 is 2.014 acres, zoned residential

Lot 2 is 11.154 acres, zoned AS-1 (Agricultural)

Build 26-25 SFRs at 2,800 sqft or 11 SFRs at 4,000 sqft

ABVs range from $600k-$675k

3 Exsisting homes on the Lots

✨Property Features✨
3 Exsisting homes on the Lots

Property 1: SFR Ranch, x Bed/ x Bath,

Property 2: SFR A-Frame, x Bed/ x Bath,

Property 3: Trailer, 3 Bed/ 1 Bath,

All properties are owner occupied and owners are seeking new living arrangements.

ASKING: $1,200,000

LAND COMPS
3716 & 3718 John Moore Rd, Brandon, FL 33511- SOLD $1,300,000

9.29 acrees

1003 Myrtle Rd, Valrico, FL 33596- SOLD $1,336,000

2 Bed/2 Bath, 7.5 acres

2,800 SQFT SFR COMPS
4321 Swift Cir, Valrico, FL 33595- SOLD $605,000

4 Bed/ 3 Bath, 2,794 sqft

1521 Holleman Dr, Valrico, FL 33596- SOLD $619,000

4 Bed/ 3 Bath, 2,666 sqft

2113 Crooked Creek Way, Valrico, FL 33596- SOLD $600,000

4 Bed/ 3 Bath, 2,444 sqft

4,000 SQFT SFR COMPS
2236 Eagle Bluff Dr, Valrico, FL 33596- SOLD $675,000

5 Bed/ 4 Bath, 3,240 sqft

2528 Centennial Falcon Dr, Valrico, FL 33596- SOLD $640,000

5 Bed/ 4 Bath, 3,769 sqft

4303 Glendon Pl, Valrico, FL 33596- SOLD $680,000

5 Bed/ 3 Bath, 3,748 sqft