0 ST RD 557 Lake Alfred, FL 33850

This 305-acre property (Parcel ID: 262708000000012010) is located on St Rd 557 in Lake Alfred, Florida. Approximately 92 acres are developable. The site is 39.6 miles from Orlando International Airport and 27.3 miles from Walt Disney World. Currently zoned for agriculture at one dwelling unit per five acres, the site yields about 20 lots. Its contiguity to the City of Lake Alfred offers an 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. 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 557A 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. The site is located 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.