For Sale
$4,250,000

0 Golf Lake DrNew Smyrna Beach, FL 32168

41 Acres, 132 Units, Shovel-Ready

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional 41.2-acre shovel-ready residential development presents a unique investment opportunity in the thriving New Smyrna Beach, Florida market. Located in Volusia County, on S Golf Lake Dr, zip code 32168, this Planned Unit Development (PUD) is zoned for 132 units, offering a mix of golf villas and duplexes. The property boasts a prime location adjacent to the prestigious Hidden Lakes Golf Club and minutes from the beach and other local attractions. The site's strategic positioning across from the New Smyrna Beach Sports Complex and within three miles of major hospitals and medical centers makes it ideal for active adult living. Indeed, the seller has secured an optional 55+ age restriction, catering to the growing demand in this sector. With over 22,000 multifamily and senior housing units currently under development in the surrounding area, this project capitalizes on a rapidly expanding market. The asking price is $4,250,000, translating to $76,456 per acre. This represents a compelling investment in a high-growth area, particularly given the current market trends favoring build-to-rent (BTR) opportunities. The property's master-planned community design incorporates planned amenities to enhance resident lifestyles. This is a truly exceptional opportunity to acquire a fully approved and ready-to-develop residential community in a desirable coastal location.

Highlights

  • Exceptional location in a high-growth market.
  • Strong tenant roster with long-term leases.
  • Significant upside potential through lease-up and rental rate increases.
  • Below-market cap rate offering attractive value-add opportunity.
  • Well-maintained property with recent capital improvements.

Property Details for 0 Golf Lake Dr

Property type
Land
Lot Size (sq. ft)
1,794,672 SF

Location Insight

City
New Smyrna Beach
County
Volusia
State
Florida
Latitude
29.04282523
Longitude
-80.94939819
Golf Lake Dr, New Smyrna Beach, Florida

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0 Golf Lake Dr
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