Listing ID : OM695355
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Lot Size
4 Acre
Description
Located just under one mile east of the newly expanded 589 Toll Road/Suncoast Parkway, this 4.78-acre property is strategically positioned on SR 44/W Gulf to Lake Hwy, a major thoroughfare with 26,000 AADT (Annual Average Daily Traffic) and 600 feet of highway frontage, ensuring maximum visibility. Situated just east of the controlled intersection of SR 44 and CR 491, the site benefits from close proximity to the Central Ridge District’s expanding retail hub, home to national retailers such as Target, Walmart, and various other commercial establishments. Additionally, the property serves affluent residential communities, including Citrus Hills, Terra Vista, Pine Ridge, and Black Diamond Ranch. Within a 15-minute drive, the immediate area boasts a population of 46,361 residents, with an average age of 58 and a median household income of $65,000, making it well-positioned for long-term commercial viability, and easy access to Inverness (10.5 miles), Beverly Hills (6 miles), Hernando (10 miles), Crystal River (7.9 miles) and Homosassa (10.1 miles) the ability to reach the Tampa International airport within 1 hour from the subject property. From a development perspective, the site offers significant flexibility under General Neighborhood Commercial zoning, permitting up to 70% lot coverage and accommodating a broad range of commercial and residential uses. Approved uses include multifamily residential development with a density of six to ten units per acre (with a PUD), nursing homes, general retail, shopping centers, regional medical facilities, medical and professional offices, restaurants (including drive-thru establishments), financial institutions, and several conditional uses subject to approval. This zoning flexibility allows developers to tailor projects to meet the growing demand in the region while ensuring compliance with evolving market trends. As part of the Tampa–St. Petersburg–Clearwater Metropolitan Statistical Area (MSA), the 18th largest metro area in the United States, Citrus County is experiencing rapid population growth, with projections estimating an increase from 153,600 to 350,000 residents by 2030. This growth is driving an expanding demand for residential and commercial infrastructure, reinforcing the need for well-positioned development sites. The recent $135 million expansion of the Suncoast Parkway has further enhanced accessibility, positioning Citrus County as a key gateway to the Tampa Bay region and strengthening its attractiveness for investment. Given its prime location, robust market demographics, and diverse zoning potential, this property represents an exceptional opportunity for developers and investors looking to capitalize on Citrus County’s ongoing economic and population expansion. The combination of high-visibility frontage, strong consumer demand, and regional infrastructure improvements makes this site a compelling investment for long-term commercial success.
