St Rd 557 Lake Alfred, FL 33850

Located in Lake Alfred, Florida, this property encompasses 305 acres, identified by Parcel ID 262708000000012010. Approximately 92 acres are developable. The site is located 39.6 miles from Orlando International Airport and 27.3 miles from Walt Disney World. Currently zoned for agriculture, it allows one dwelling unit per five acres, yielding about 20 lots. Its proximity to the City of Lake Alfred presents an opportunity for annexation, which would provide access to city water and sewer services and enable rezoning to a higher density. With a Village Residential designation, the property could potentially yield roughly 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. CR 557 is scheduled for widening to four lanes starting in summer 2025, with an expected completion in three years, and a roundabout will be added at the intersection of CR 557C 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's location within a 100-year flood zone requires fill and flood insurance. There are areas of poorly drained soil, and the irregular parcel shape may affect layout and reduce lot yield. Entitlement approvals for annexation, land use amendment, and rezoning are required, with an estimated approval timeline of six to twelve months.