Listing Details for MLS # A4553495
County Rd 675, Myakka City, Fl 34251

Land - Real Estate in Myakka City

Listing Price: $750,000Days on Market: 661

Description of Property

Incredible development / land-banking opportunity at the eastern edge of fast-growing Lakewood Ranch. Located at the corner of SR 70 and CR 675 in Manatee County with tremendous growth all around, this is your chance to acquire a property in a high demand area. Growth eastward on SR 70 is expected to continue to increase as evidenced by the recent combined traffic count escalations to almost 33,000 cars per day. The current agricultural zoning of the property allows for commercial uses that support the agricultural community including office, veterinary clinic, equipment sales, pet kennel, and even a Bed & Breakfast. With another nearby lot (at SR 70 and Vena Bethany Road) already grated PD-C zoning, there is great potential to rezone the property to Commercial opening the door for a variety of uses including a Drive Thru establishment, restaurant, bar, dollar store, general store, gas station, farm store, or other supportive retail uses.Owner has had several preliminary site plans drafted for suitable uses presenting the opportunity for development. This intersection is part of Phase 2 in a road widening and development project occurring along SR 70 from Lorraine Road out to CR 675 and is expected to begin construction in the second half of 2024. Included in that project is the widening of SR 70 from 2 lanes to 4 lanes in order to support commuter and freight traffic that has increased in the area over the last few years, as well as the construction of a roundabout at the corner of CR-675 and SR-70 offering unparalleled visibility, lower traffic speeds, and increased accessibility to the property. In conjunction with the added roundabout, the "off-ramp" from westbound SR-70 onto northbound CR-675 will be demolished, making this site a true hard corner. Initially the land under the demolished roadway will serve as a buffer to the adjacent properties, however there is potential to have this right-of-way vacated allowing for this additional land to be added to this development site, making it grow in size and opportunity. Population Growth and Development: In the last twelve years, Manatee County has seen a 23% increase in the population compared to the 15% increase seen across the state. By the year 2023, the county is expected to see another 13-21% population growth which will only drive the need to continue to expand Eastbound into more rural areas such as Myakka City. We can even see the significance of this population growth within a five mile radius of the subject property as it has nearly doubled in the last 4 years, Rising from 6,934 to 12,591.