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    Gulf Front Development Opportunity Title is generated by Realmo AI

    5913 Sea Ranch Dr, Hudson, FL 34667

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    8.64-acre waterfront land approved for 88 condo units.

    Type:Multifamily, Hospitality, Land
    Lot size:
    8.64 Acres
    Added:
    Nov 9, 2023
    Days on Market:
    941
    Last Refresh:
    May 19 at 9:03 pm

    Property Features for 5913 Sea Ranch Dr

    General Information

    Standard status
    Active
    Lot size
    8.64 Acres
    Property subtype
    Multifamily, Hospitality, Land

    We can help!

    Listing Contact
    Frank Fekete

    Listing agent Frank Fekete License #FL 3039291

    Listing office Re/Max Sunset Realty

    Listing date Nov 9, 2023

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Re/Max Sunset Realty

    HighLights

    • 8.64‑acre Gulf Front property with over 1300 ft of Gulf frontage, approved for 88 units with potential for 20 more (total 108), and no height restrictions.
    • Directly faces the Gulf of Mexico, offering unobstructed sunset views.
    • Potential for hotel zoning, allowing for diverse development options with special exception approval.
    • Located within the Gulf Island Beach & Tennis Club, a gated community, with access to shared amenities and 24‑hour security.
    • Lagoon area suitable for a marina or tiki huts/bungalows, with potential to add 60‑70 boat slips and a pedestrian bridge.
    • Proximity to the new Speros Moffitt Cancer Center and HCA Florida Bayonet Point Hospital.

    Overview

    This 8.64-acre vacant land is located directly on the Gulf of Mexico in Hudson Beach, Florida, and features over 1300 feet of Gulf frontage and 1775 feet of total waterfront. Situated within the gated Gulf Island Beach & Tennis Club condominium complex, the property is approved for 88 units, with the potential to add 20 more for a total of 108 units. A public hearing is not required for the initial 88 units. The property also has the possibility of being zoned for a hotel. The existing condo complex consists of three 108-unit buildings with one- and two-bedroom units. The Phase IV building would face directly west, offering unobstructed views of the Gulf and sunsets. The Phase IV project can join one of the existing associations or create its own condominium association, sharing the cost of maintaining joint-use common areas, including the 24-hour security gate. The lagoon area is suitable for a marina or above-water tiki huts/bungalows. There is a possibility of obtaining an additional 900 feet of seawall space on the south side of the complex and adding 60-70 boat slips on one of the area's widest canals. A short pedestrian bridge could connect to the narrow strip of land on the north side, ideal for tiki huts and a beach. The property's location and available amenities also make it suitable for luxury townhomes or single-family homes. The New Speros Moffitt Cancer Center, located 20 minutes away, and HCA Florida Bayonet Point Hospital, 1.5 miles away, represent potential buyers for condo units, townhomes, luxury homes, or hotel stays.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center Hotel & Motel Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Hudson
    County
    Pasco
    State
    Florida
    Longitude
    -82.7175176
    Latitude
    28.3587712

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    FAQs

    What type of property is this?
    Waterfront Land - 8.64-acre waterfront land approved for 88 condo units.
    Where is this waterfront land located?
    The property is located at 5913 Sea Ranch Dr Hudson, FL.
    What is the asking price?
    The asking price for this property is $5,990,000.
    What are key features of this property?
    This property features: 8.64‑acre Gulf Front property with over 1300 ft of Gulf frontage, approved for 88 units with potential for 20 more (total 108), and no height restrictions.; Directly faces the Gulf of Mexico, offering unobstructed sunset views.; Potential for hotel zoning, allowing for diverse development options with special exception approval.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Frank Fekete
    Real Estate License ID: FL 3039291
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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