Agricultural Land with Annexation
For Sale
$7,500,000
ST RD 557, Lake Alfred, FL 33850
LAND - LAKE ALFRED, FL
Lot Size305.77 Acres
Days on Market224
Property Features for ST RD 557
General Information
Property type
Land
Property subtype
Other
Zoning
RC
Security features
Security
Lot features
In County, Irregular Lot, May Need To be Filled, Paved
Directions
From I-4, take exit 44 toward Polk City. Turn L onto SR 559, R on CR 557.
Subdivision
33850 - Lake Alfred
Standard status
Active
APN
26-27-08-000000-012010
Lot size
305.77 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
ALL THAT PART OF S 3/4 OF SEC WHICH LIES ELY OF CR 557 LESS R/W FOR WAYLANCO RD & LESS ADDNL R/W PER OR 13293 PG 261
Tax Annual Amount
1245
Legal Description
ALL THAT PART OF S 3/4 OF SEC WHICH LIES ELY OF CR 557 LESS R/W FOR WAYLANCO RD & LESS ADDNL R/W PER OR 13293 PG 261
Listing Agency:
NEXTHOME NORRIS & COMPANY REAL
(863) 875-5583
Listed By:
Michael Norris · License #BK599865,PersonLicenseNumber
(863) 287-3105
Added: Dec 18, 2025
Changed: Jul 20
Last Checked: Jul 30 at 4:06PM
MLS# L4958007
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This offering is a large land parcel located along St Rd 557 in Lake Alfred, totaling 305.77 acres, with approximately 92 acres described as developable. The property is currently zoned for agriculture at one dwelling unit per five acres, and it is described as having a projected yield of about 20 lots under the current zoning. The seller also notes a potential higher-density outcome tied to annexation, a land use amendment, and rezoning to a Village Residential designation allowing four units per acre.
The site is positioned for potential annexation due to its contiguity to the City of Lake Alfred, and the remarks indicate that annexation could support access to city water and sewer and enable rezoning to higher density. Meritage Homes’ Silver Lakes community is described as extending water and sewer infrastructure to its entrance across SR 557.
The property is subject to a 100-year flood zone, with remarks noting that fill and flood insurance considerations may apply, and that portions of the soil are described as poorly drained. A five-acre retention pond adjacent to CR 557 is also noted as reducing total developable acreage. The irregular parcel shape is described as potentially constraining layout and affecting final lot yield, and the remarks indicate entitlement approvals are required, with an estimated timeline of six to twelve months.
The site is positioned for potential annexation due to its contiguity to the City of Lake Alfred, and the remarks indicate that annexation could support access to city water and sewer and enable rezoning to higher density. Meritage Homes’ Silver Lakes community is described as extending water and sewer infrastructure to its entrance across SR 557.
The property is subject to a 100-year flood zone, with remarks noting that fill and flood insurance considerations may apply, and that portions of the soil are described as poorly drained. A five-acre retention pond adjacent to CR 557 is also noted as reducing total developable acreage. The irregular parcel shape is described as potentially constraining layout and affecting final lot yield, and the remarks indicate entitlement approvals are required, with an estimated timeline of six to twelve months.
Key Highlights
- 305‑acre property on SR 557 with about 92 acres identified as developable land
- Currently zoned for agriculture (1 dwelling unit per 5 acres); estimated current yield about 20 lots
- Annexation potential to City of Lake Alfred could enable rezoning to Village Residential (4 units/acre) and a projected yield of about 408 units
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
282
Businesses Nearby
Explore this area
Business Placement
Demographics for 33850, FL
9,119
Population
4,947
Households
1.8
Avg Household Size
45
Median Age
24%
College-Educated
89%
High-School Grad
16.8 sq mi
ZIP Area
543
Density / Sq Mi
$53,877
Median Household Income
$36,563
Median Earnings
$1,072
Median Rent
$215,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Large development site zoned for agricultural use, with projected capacity dependent on annexation, rezoning, and required approvals.
Where is this residential land & home lot located?
The property is located at ST RD 557 Lake Alfred, FL.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: 305‑acre property on SR 557 with about 92 acres identified as developable land; Currently zoned for agriculture (1 dwelling unit per 5 acres); estimated current yield about 20 lots; Annexation potential to City of Lake Alfred could enable rezoning to Village Residential (4 units/acre) and a projected yield of about 408 units
