5121 29Th St Silver Springs, FL 34488
This exceptional 4.62-acre parcel in Silver Springs, Florida, presents a turnkey opportunity for multifamily development. Located at 5121 NE 29th St, 34488, this R3-zoned land is fully entitled for a 36-unit residential project. All necessary approvals are in place, significantly reducing development timelines and associated costs. The property has undergone extensive pre-development work, including gopher tortoise relocation, land clearing, and securing essential easements. A sewer easement has been established with an adjacent 55+ manufactured home park, and all necessary utility permits are in hand. The comprehensive due diligence package includes approved site plans, boundary and topographic surveys, a geotechnical report, and all relevant permits and paperwork. This streamlined process minimizes risk and accelerates the construction phase. The asking price for this exceptional opportunity is $1,500,000. Serious buyers may also have the opportunity to acquire existing architectural plans. Don't miss this chance to acquire a fully prepared development site, ready for immediate construction. This prime location in Silver Springs offers excellent potential for a profitable multifamily investment.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.