6008 Ellerbee Rd, Wesley Chapel, FL

Multi-family for Sale - $1,800,000 - 17 acres


Agent Info

Jack Pennella,ALC
Fl Commercial Realty Group, LLC

Property Info

CIMLS#945103
Location
  6008 Ellerbee Rd
  Wesley Chapel FL 33545
UpdatedFebruary 23rd, 2021
TypeMulti-family
Price$1,800,000
Land17 acres

Contact


Property Description

ON CONTRACT The subject property consists of 17 acres of multifamily zoned land located

In the heart of Wesley Chapel�s growth corridor and the hub of the areas� traffic flow. Residential housing is being expanded at a rate not seen since 2005. To construct a multifamily project the current zoning will allow 12 units an acre on gross acreage with the minimum total unit yield of 204 units. With the addition of the 9 acres to the south that would make a total of 26 acres with a gross yield of 312 units on both properties. Designing the project as a 3 story building the total land leaves lots of room for retention and amenities.

If the project was to become a town house or single family project it would yield a minimum of 6 units per acre or 102 units on the 17 acres. Adding in the other 9 acres will give a gross yield of 156 units for the 26 acres. Location and flexibility gives the developer room to make this a very profitable project.

State Road 54 has 50,000 vehicles a day passing in front of the site. Water and Sewer are nearby and can be brought onto the site. The access road (Ellerbee Rd.) will need to be improved to handle the expected traffic