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    10216 Sherwood Lakes Dr Florence, KY 41042

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    For Sale
    Contact for pricing

    13.59 Acres, Multifamily Zoning, I-75 Access

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 13.59-acre parcel presents a remarkable development opportunity in Florence, Kentucky. Located at 10216 Sherwood Lake Dr NE, Boone County, zip code 41042 (latitude 38.9495172, longitude -84.6294878), this property is uniquely positioned for significant growth. The land is zoned for multifamily use, offering considerable flexibility for various residential projects. Pre-approved plans allow for the construction of up to 200 multifamily units, 120 ranch-style condos, or 36 units of special needs housing. This represents a rare chance to capitalize on the strong demand for housing in this area. The site's adjacency to the Sherwood Lakes Apartment Community provides a built-in advantage, leveraging existing infrastructure and community presence. Furthermore, its excellent access to I-75 ensures convenient connectivity to major transportation routes, enhancing its appeal to potential residents and investors. This is the last remaining parcel available for development in this prime location, making it a truly exclusive investment opportunity. Don't miss this chance to acquire a substantial land holding with pre-approved plans, ready for immediate development.

    Property Features for 10216 Sherwood Lakes Dr

    General Information

    Property type
    Land
    Lot Size
    591,980 SF

    HighLights

    • 13.59‑acre site.
    • 200‑unit multifamily development approved.
    • 120‑unit ranch‑style condo development approved.
    • 36‑unit special needs housing development approved.
    • Prime development opportunity.
    • Last available developable parcel.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Florence
    County
    Boone
    State
    Kentucky
    Longitude
    -84.6294878
    Latitude
    38.9495172

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    FAQs

    What type of property is this?
    Land - 13.59 Acres, Multifamily Zoning, I-75 Access
    Where is this land located?
    The property is located at 10216 Sherwood Lakes Dr Florence, KY.
    What are key features of this property?
    This property features: 13.59-acre site.; 200-unit multifamily development approved.; 120-unit ranch-style condo development approved.
    Request Owner's contact information
    10216 Sherwood Lakes Dr Florence, KY 41042
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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
    10216 Sherwood Lakes Dr Florence, KY 41042
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