10500 Scenic Dr Port Richey, FL 34668

This 1.77-acre lot in Port Richey, Florida (Pasco County, 34668, 10500 Scenic Dr) presents a unique opportunity for investors. Priced at $399,000, this vacant, fee-simple property boasts pre-approved site plans for a 49-spot boat and RV storage facility, eliminating lengthy permitting delays (typically 8-12 months in Pasco County). All engineering and site plan fees have already been paid, significantly reducing upfront costs. The projected NOI is $60,000, resulting in a pro-forma cap rate of 15.04%. Site improvements are estimated at $50,000-$60,000. The C-2 zoning is ideal for this use. Potential rental income ranges from $100-$150 per spot monthly, based on market rates for similar facilities. The seller is open to negotiating certain improvements with a suitable offer and may consider seller financing with a 20-25% down payment. This property offers low maintenance, buyer control over insurance costs, and benefits from the growing demand for outdoor storage in the area, driven by HOA restrictions in newer communities. This is a turnkey opportunity to capitalize on a high-demand market with minimal development hurdles. The total square footage is 75,000.