$1,200,000

4501 Culbreath Rd, Valrico, FL

Type: 
Land

An opportunity to purchase two adjacent buildable lots in Valrico, FL 33596. Lot 1 is 2.014 acres and zoned residential, while Lot 2, east of Lot 1, is 11.154 acres and zoned AS-1 (Agricultural). To fully utilize the land in its best use, the buyer will need to apply to the township for a variance to re-zone Lot 2 to residential.


Best Use: The construction of 26 single-family residences (SFRs) conservatively, and up to 35 SFRs, each at 2,800 square feet and positioned on a 10,000 square foot lot.


The estimated build cost is $150 per square foot, with an after-build value (ABV) of $600,000 per home. At 26 homes, the total build cost would be $4,200,000, and the ABV would be $15,600,000, indicating a potential profit of around $4.2M using conservative numbers.


Clearing the land and the existing three homes on the lot will need to be considered when determining your maximum allowable offer (MAO). Currently, AS-1 Zoning allows for the construction of one home per acre, with homes ranging from 3,000 to 4,000 square feet and selling prices between $600,000 and $675,000.


Alternatively, without variance approval, build eleven 4,000 square foot single-family residences (SFRs) with after-build values (ABVs) of $675,000, to make this a true win-win situation.

 

✨Property Highlights✨

11.154 Acres of land across 2 lots

Lot 1 is 2.014 acres, zoned residential

Lot 2 is 11.154 acres, zoned AS-1 (Agricultural)

Build 26-25 SFRs at 2,800 sqft or 11 SFRs at 4,000 sqft

ABVs range from $600k-$675k

3 Exsisting homes on the Lots


✨Property Features✨

3 Exsisting homes on the Lots

Property 1: SFR Ranch, x Bed/ x Bath, 

Property 2: SFR A-Frame, x Bed/ x Bath,

Property 3: Trailer, 3 Bed/ 1 Bath,

All properties are owner occupied and owners are seeking new living arrangements.


 



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