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    4290 Spruce Creek Rd Port Orange, FL 32127

    Sponsored
    For Sale
    $7,248,999

    22.7 Acres, 300+ Units, Prime Location

    Property size:
    988,812 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 22.7-acre development site in Port Orange, Florida, presents a unique opportunity for high-density residential construction. Located at 4290 and 4370 Spruce Creek Rd, this fee-simple property boasts over 1000 feet of frontage on Spruce Creek Road, less than two blocks from Dunlawton Avenue, and within a mile of the Atlantic Ocean and Riverwalk. Currently zoned General Commercial with a Future Land Use Map designation of Planned Unit Development (PUD), this site offers significant potential. Previously approved for 160 units, the property allows for the development of up to 300+ units, encompassing condos, townhouses, apartments, senior housing, or single-family homes. The property includes three existing buildings, each three stories high, totaling 988,812 square feet. The asking price is $7,248,999, or $335,000 per acre. The site offers three parking spaces per unit. Rent bumps are projected at 3% annually. The property features APNs 630901010030, 630901010010, and 630827000010. Lease options are available. A 120-day due diligence period is in place, with a $20,000 extension fee per month beyond that timeframe (extension applies to closing date only, not due diligence). An additional $20,000 will be added to the asking price for any extension. The property is situated in a desirable location with a $450,000 median home price. This prime location, combined with its zoning and development potential, makes this an exceptional investment opportunity.

    Property Features for 4290 Spruce Creek Rd

    General Information

    Property type
    Land
    Square Feet
    988,812 SF
    Class
    A
    Lot Size
    988,812 SF

    Building Details

    Buildings
    3
    Stories
    3
    Units
    300

    HighLights

    • 22.7‑acre parcel.
    • Commercially zoned.
    • Potential for 300+ multifamily units (condos and apartments).
    • Planned Unit Development (PUD) designation planned.
    • Owner financing available.
    • Over 1,000 feet of frontage.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Port Orange
    County
    Volusia
    State
    Florida
    Longitude
    -80.99387759
    Latitude
    29.13293343

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    FAQs

    What type of property is this?
    Land - 22.7 Acres, 300+ Units, Prime Location
    Where is this land located?
    The property is located at 4290 Spruce Creek Rd Port Orange, FL.
    What is the asking price?
    The asking price for this property is $7,248,999.
    What are key features of this property?
    This property features: 22.7-acre parcel.; Commercially zoned.; Potential for 300+ multifamily units (condos and apartments).
    Request Owner's contact information
    4290 Spruce Creek Rd Port Orange, FL 32127
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4290 Spruce Creek Rd Port Orange, FL 32127
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