70+ Acres of LDR1 Land in Inverness, FL

Fitzgerald Way near Gospel Island, Inverness FL

Description

This is a waterfront development opportunity you won't want to miss! With 70.03 waterfront acres, central water and sewer available. and a prime location within Inverness City Limits! There is nearly 3500’ of waterfront on Little Lake Henderson, part of the 22 mile long chain of interconnecting lakes known as Lake Tsala Apopka. Lake Henderson is a 422 acre pristine waterway with a depth of 12'. The property offers 57.48 acres of Net Usable Uplands and 12.82 acres of pristine wetland preserves, and natural springs. Located inside the LDR1 zoning district of City Limits of Inverness, FL, this zoning allows for up to 5 units/acre (8,500 sf minimum lot and an impervious coverage ratio of 40%, 25% Building Allowance) with a minimum of 1,000 sf of living area. Permissible building types in the LDR1 zoning district include Single Family Detached, Single Family Attached and Multifamily Duplex. Estimated unit density at the subject property with compliance in the LDR1 zoning district could yield a potential of 287 units priced at just $13,560/unit of density, pending municipal approval. Centrally located just 1.4 miles drive time from Historical Downtown Inverness, City Hall, Citrus County CourtHouse, Liberty Park, Wallace Brooks Park and Rails To Trails Recreation Path (46 miles in length). Neighboring cities include Lecanto (11.2 miles), Beverly Hills (13.3 miles), and Inverness (1.4 miles). Citrus County currently holds 153,600 residences with room under the county’s LDC for a maximum of 350k residents. Currently Citrus County is expanding infrastructure to pave the way for development which is projected to support 30,000 new residences moving to the area by 2030. Citrus County offers an amazing opportunity for development with the 3rd highest number of vacant parcels (61,000) in the State of Florida. Citrus County is located inside of the Tampa–St. Petersburg–Clearwater MSA, the 18th Largest MSA in the United States and the hottest real estate market in the nation!