Hwy 557 Polk City, FL 33868

This property, identified by Parcel ID 262708000000012010, encompasses 305 acres, including approximately 92 acres of developable land. It is located near Lake Alfred, Florida, and is positioned 39.6 miles from Orlando International Airport and 27.3 miles from Walt Disney World. The land is currently zoned for agriculture, permitting one dwelling unit per five acres, which allows for about 20 lots. Its location adjacent to the City of Lake Alfred presents an opportunity for annexation, which would provide access to city water and sewer services and enable rezoning for higher density development. With a Village Residential designation, the property could potentially yield approximately 408 units at a density of four units per acre. Water and sewer infrastructure has already been extended to the entrance of Meritage Homes’ Silver Lakes community, which is located directly across SR 557. Improvements are planned for CR 557, with a widening project to four lanes scheduled to begin in summer 2025 and expected to take three years. A roundabout will also be constructed 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 situated within an active development corridor, with major builders such as Pulte, DR Horton, Meritage, and American Homes active in the area. 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 may also 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.