Hwy 557 Polk City, FL 33868

This 305-acre property, identified as Parcel ID 262708000000012010, is located on HWY 557 in Lake Alfred. Approximately 92 acres are developable. The site is situated 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, potentially unlocking access to city water and sewer and enabling rezoning to a 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 extended water and sewer infrastructure to their entrance across SR 557. 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 557C 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 is located within an active development corridor with major 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, 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, with an estimated approval timeline of six to twelve months.