4290 Spruce Creek RdPort Orange, FL 32127

Property Details for 4290 Spruce Creek Rd

Lot size

22.70 AC

Property size (Sq ft)

988,812 SF

Property type

Other commercial real estate

Property subtype

Other land

Description

This exceptional 22.7-acre development site in Port Orange, Florida, presents a unique opportunity for high-density residential construction. Located at 4290 and 4370 Spruce Creek Rd, this fee-simple property boasts over 1000 feet of frontage on Spruce Creek Road, less than two blocks from Dunlawton Avenue, and within a mile of the Atlantic Ocean and Riverwalk. Currently zoned General Commercial with a Future Land Use Map designation of Planned Unit Development (PUD), this site offers significant potential. Previously approved for 160 units, the property allows for the development of up to 300+ units, encompassing condos, townhouses, apartments, senior housing, or single-family homes. The property includes three existing buildings, each three stories high, totaling 988,812 square feet. The asking price is $7,248,999, or $335,000 per acre. The site offers three parking spaces per unit. Rent bumps are projected at 3% annually. The property features APNs 630901010030, 630901010010, and 630827000010. Lease options are available. A 120-day due diligence period is in place, with a $20,000 extension fee per month beyond that timeframe (extension applies to closing date only, not due diligence). An additional $20,000 will be added to the asking price for any extension. The property is situated in a desirable location with a $450,000 median home price. This prime location, combined with its zoning and development potential, makes this an exceptional investment opportunity.

Location Insight

City

Port Orange

County

Volusia

State

Florida

Latitude

29.1329

Longitude

-80.9939

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