5325 Treadway Dr Port Richey, FL 34668

This legacy property is located in South Pasco County, featuring the only port in the county with access to the Gulf waters, allowing for significant commercial docking expansion. The property, zoned C2 Commercial, spans 1.23 acres and includes a 100-foot wet slip commercial marina, a seaside bar, a historic bar on the river, and a hotel. The hotel is currently not operating as it is on the market for sale. The commercial wet slip docking is 80% leased, presenting a high-income upside potential. The location is next to Hooters Restaurant in a major resort bar and restaurant area. The land use allows for multifamily development with 40 units per acre, a 2.0 FAR, and a height of 110 feet with approvals. Situated in the City of Port Richey's redevelopment area, a boardwalk and waterway dredging project is in progress, with $5 million allocated for renovations, lighting, streets, sidewalks, and golf cart paths. This offering is for hotel resort development and is considered a commercial multi-use development property. It comprises two parcels, totaling five lots, with approved C2 Commercial zoning uses. Phase 1 environmental and surveys, concepts, and reports are available to develop a hotel resort. The City of Port Richey is redeveloping the infrastructure with an approved $4-5 million in improvements to the waterfront district, including roads, parking, and lighting signage on US 19. The future concept includes a river walk connecting the waterfront businesses.