0 Ridgewood Ave & Pearl StEdgewater, FL 32132

This exceptional 13.5-acre commercial development site, located at the Northwest corner of N Ridgewood Ave (US Hwy 1) and Pearl St in Edgewater, Florida (zip code 32132), presents a unique investment opportunity. The property, identified by APN numbers 52-17-34-01-00-0190, 0192, 0193, 0194, 0195, and 0200, is zoned R-4/R-5 (Multifamily Residential) and is situated in an Opportunity Zone, offering significant tax advantages. Previously entitled for 130 two-story townhouses, each approximately 1,800 square feet with a single-car garage, the engineered plans are available. The design, featuring 20-foot-wide units, is adaptable and could be revised to suit various housing needs, including 55+ senior or workforce housing. The site is high and dry, with previously approved utility capacity and concurrency. Its convenient location, just one mile south of New Smyrna Beach, provides easy access to retail, recreation, and medical facilities, making it an ideal location for a thriving residential community. This property offers the potential for development as either fee-simple townhouses or a rental project. The asking price is $1,300,000.