St Rd 557 Lake Alfred, FL 33850

The HWY 557 Lake Alfred property encompasses 305 acres. Approximately 92 acres are developable. The property is located 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 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. 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 sits within an active development corridor with major builders such as Pulte, DR Horton, Meritage, and American Homes driving growth. The site is located within a 100-year flood zone, and has areas of poorly drained soil, and an irregular parcel shape. Entitlement approvals for annexation, land use amendment, and rezoning are required, with an estimated approval timeline of six to twelve months.