5400 Greenwood Ave North Port, FL 34287

Located at 5400 Greenwood Avenue in North Port, Florida, this 5-acre property offers an investment opportunity for multifamily development. Zoned RMF, the site is suited for a new development or expansion project. The location is in the North Port/Port Charlotte area. The site is located on the southwest corner of South Sumpter Boulevard and Greenwood Avenue, near recreational areas along the Myakkahatchee Creek and Myakka Forest and River. Healthcare services are accessible at Bayfront Health’s Port Charlotte Hospital. Situated directly north of U.S. 41 and four miles south of Interstate 75, the property provides access to Tampa, Miami, and Orlando. North Port is part of the North Port – Bradenton – Sarasota Metropolitan Statistical Area, located within Sarasota County. The MSA anticipates population growth of 1.8 percent per year for the next five years. The 65+ age cohort is projected to grow by 5.3 percent from 2020 to 2025. The area's per capita income is $38,782. The MSA is observing growth of 4.0 percent in the population with incomes greater than $100,000 for the next five years. Tampa International Airport is less than an hour and a half away, and Venice Municipal Airport is less than 14 miles from the property. The City of North Port features shopping centers and attractions such as the North Port Art Center and the Performing Arts Center. Several colleges are located within a 15-mile radius of North Port, including Southern Technical College and the State College of Florida. The seller previously obtained approval for a 119-unit Senior Housing Development, which could be reinstated.