0 ST RD 557 Lake Alfred, FL 33850

This property, identified by Parcel ID 262708000000012010, comprises 305 acres, with approximately 92 acres suitable for development. It is located in Lake Alfred, Florida, approximately 39.6 miles from Orlando International Airport and 27.3 miles from Walt Disney World. The land is currently zoned for agriculture, allowing one dwelling unit per five acres, which yields about 20 lots. Its proximity to the City of Lake Alfred presents an opportunity for annexation, potentially granting access to city water and sewer services and enabling rezoning for higher density. With a Village Residential designation, the property could potentially yield approximately 408 units at four units per acre. The Silver Lakes community by Meritage Homes, located across SR 557, has already extended water and sewer infrastructure to their entrance. Road improvements are scheduled for CR 557, including widening to four lanes starting in the summer of 2025, with an expected completion time of three years, and the addition of a roundabout at the intersection of CR 557A and CR 557. A five-acre retention pond adjacent to CR 557 will reduce the developable acreage. The property is situated within an active development corridor with builders such as Pulte, DR Horton, Meritage, and American Homes. The property is located within a 100-year flood zone, requiring fill and flood insurance. There are areas of poorly drained soil, and the irregular parcel shape may affect layout and reduce the final lot yield. Entitlement approvals for annexation, land use amendment, and rezoning are required, with an estimated approval timeline of six to twelve months.