22261 Miflin Rd Foley, AL 36535

This exceptional 44.23-acre development site presents a compelling investment opportunity in Foley, Alabama. Located in a prime location, this property boasts updated geo-survey, soil analysis, and title insurance, ensuring a smooth transaction. Zoned PUD, it offers flexibility for various residential and multifamily uses, including condos, townhomes, and single-family homes. A 2018 PUD modification suggests potential for up to 400+ homes, depending on site plan approval. The site's strategic location within the rapidly expanding Foley MSA, adjacent to the $210 million OWA development (amusement park, with potential future gaming), and across from new public amenities, ensures high demand. The Foley Beach Express provides excellent access, and the property's Highway 20 location comprises ten parcels. Existing utilities are estimated at $1 million to $1.5 million. The property qualifies for new market tax credits and offers potential incentives for extended-stay developments. This is a cost-sales construction district with rates as low as 1%. No low-income housing is permitted. A second address for the site is 22313 CR 20, Foley, AL. The asking price is $4,450,000.