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This is a once-in-a-lifetime opportunity to own a true Florida paradise and build your dream home on a rare spring-fed waterfront lot. This beautiful residential building site offers 439 feet of frontage on a crystal-clear 74-degree freshwater spring run connecting Little Salt Spring and Palm Grove Colony Spring. The spring run flows into the Mud River and eventually reaches the Gulf of Mexico through Bayport Channel, creating a truly unique waterfront setting unlike anything else on the Nature Coast.
Imagine stepping out your back door and floating with the gentle spring current year-round. Swim, tube, paddleboard, kayak, or simply relax while surrounded by the peaceful beauty of one of Hernando County’s hidden natural treasures. The spring-fed creek provides endless entertainment for family, guests, or future vacation renters while creating a serene old Florida atmosphere filled with native palms, coastal marshlands, wildlife, and scenic water views.
This property offers the flexibility buyers are looking for with no HOA, short-term rentals allowed, no required timeframe to build, and no designated builder restrictions. Whether you are looking to build a full-time residence, vacation getaway, or investment property, this lot offers unlimited potential. A fixed bridge limits large boat access, but the spring run still connects to the Mud River and Gulf waters for kayaking, fishing, and small watercraft adventures.
Little Salt Spring is known for its clear spring water, untouched coastal beauty, and relaxed waterfront lifestyle. Kayakers, anglers, paddleboarders, and outdoor enthusiasts are drawn to the area’s peaceful surroundings and abundant wildlife. Manatees, dolphins, shorebirds, and native fish are commonly seen throughout the waterways, creating a true Florida nature retreat.
Welcome to Palm Grove Colony, a charming spring-fed riverfront community tucked away in Hernando County just 60 minutes north of Tampa International Airport with convenient access via the Suncoast Parkway. Hidden away from the congestion of US-19 and SR-50, this community feels like stepping back into old Florida where life revolves around the water and nature. One of the community’s greatest features is resident access to the community-owned Little Salt Spring, adding even more value and recreational opportunities.
At the heart of the area is the scenic Mud River, a spring-fed waterway flowing approximately three miles to the Gulf at Bayport. Nearby, the famous Weeki Wachee River adds to the region’s appeal with its crystal-clear spring water and legendary mermaid attraction that has captivated visitors since the 1940s.
Outdoor recreation opportunities are endless with boating, fishing, kayaking, scalloping, snorkeling, paddleboarding, wildlife watching, and unforgettable manatee encounters all nearby. Palm Grove Colony offers a rare opportunity to experience the timeless beauty of Florida’s Nature Coast while building the Gulf Coast fishing and waterfront home you have always dreamed about.
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Our Executive Mortgage Banker:
Our Insurance Division:
$250,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
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 Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
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|---|---|---|---|
| Loan Amount | $200,000 | $200,000 | $200,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.250% | 6.500% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.375% | 6.638% | 5.972% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $1,231 | $1,264 | $1,661 |
| Total Monthly Payment | $1,306 | $1,339 | $1,736 |
* 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.