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0 ST RD 557, Lake Alfred, FL, 33850 | $12,000,000
The St Rd 557 Lake Alfred property (Parcel ID: 262708000000012010) spans 305 acres, with approximately 92 acres of developable land, and is strategically located just 45 minutes (39. 6 miles) from Orlando International Airport and 38 minutes (27. 3 miles) from Walt Disney World. Currently zoned for agriculture at one dwelling unit per five acres, the site yields about 20 lots, but its contiguity to the City of Lake Alfred offers a strong opportunity for annexation, unlocking access to city water and sewer and enabling rezoning to a much higher density. With a Village Residential designation allowing four units per acre, the property has a projected yield of roughly 408 units. Directly across SR 557, Meritage Homes’ Silver Lakes community has already extended water and sewer infrastructure to their entrance, enhancing feasibility for development. CR 557 is scheduled to be widened to four lanes beginning in summer 2025, with completion expected in three years, and a roundabout will be added at the intersection of CR 557A and CR 557 to improve traffic flow. A five-acre retention pond adjacent to CR 557 will slightly reduce the total developable acreage. The property sits within an active development corridor with major builders such as Pulte, DR Horton, Meritage, and American Homes driving growth, and additional utility extensions by nearby projects will further support development. While the site benefits from strong accessibility and regional demand, considerations include its location within a 100-year flood zone requiring fill and flood insurance, areas of poorly drained soil, and an irregular parcel shape that may constrain layout and reduce final lot yield. Entitlement approvals for annexation, land use amendment, and rezoning are required, but all have a high probability of success and can be pursued concurrently, with an estimated approval timeline of six to twelve months.
Directions: From I-4, take exit 44 toward Polk City. Turn L onto SR 559, R on CR 557.
Features
- Lot Size: irr
- Lot Desc: In County, Irregular Lot, May Need To be Filled
- MLS#: L4958007
- Days on Market: 82 days
- Website: https://www.raveis.com
/prop/L4958007/0strd557_lakealfred_fl?source=qrflyer
Listing courtesy of NEXTHOME NORRIS & COMPANY REAL Phone: 863-875-5583
William Raveis Family of Services
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Customer Service
888.699.8876
Contact@raveis.com
Our family of companies offer our clients a new level of full-service real estate. We shall:
- Market your home to realize a quick sale at the best possible price
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To learn more about our credentials, visit raveis.com today.
Melissa CohnRVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 16953
917.838.7300
Melissa.Cohn@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Pedro DelgadilloInsurance Sales Director, William Raveis Insurance
305.922.5393
Pedro.Delgadillo@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
- Partners with major insurance companies including Chubb, Kemper Unitrin, The Hartford, Progressive,
Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
0 ST RD 557, Lake Alfred, FL, 33850
$12,000,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Melissa Cohn
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $9,600,000 | $9,600,000 | $9,600,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.625% | 6.125% | 5.875% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.214% | 6.223% | 6.078% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $55,263 | $58,331 | $80,363 |
| Total Monthly Payment | $55,388 | $58,456 | $80,488 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
FL Mortgage Lender MLD1388