SR-70 & Crk 675 Myakka City, FL 34251
This 1.5-acre parcel in Myakka City, Florida, presents a compelling development opportunity. Located at the high-traffic intersection of SR-70 and CR-675 in Manatee County, this property boasts exceptional visibility and accessibility. Currently zoned for agriculture, it permits various commercial uses supporting the agricultural community, including offices, veterinary clinics, and retail establishments. A nearby lot's PD-C zoning suggests strong potential for rezoning this site to commercial, opening doors to a wider range of uses such as drive-thrus, restaurants, and retail stores. Preliminary site plans for suitable uses are available. The property benefits from a significant road widening and development project along SR-70, scheduled for the second half of 2024, which includes expanding SR-70 to four lanes and constructing a roundabout at the property's corner. This roundabout will enhance visibility and accessibility, transforming the site into a highly desirable "hard corner" location. The demolition of the westbound SR-70 to northbound CR-675 off-ramp further strengthens this advantage. There's potential to acquire additional land from the vacated roadway right-of-way. Manatee County's robust population growth, exceeding the state average, fuels the demand for development in this rapidly expanding area. The property's location near the expanding Lakewood Ranch community and the projected increase in traffic to nearly 33,000 cars daily underscore its investment potential. The asking price is $750,000, and the APN is 333702009.
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
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.