5400 Greenwood Ave, North Port, FL 34287

Invest in the future with this exceptional property at 5400 Greenwood Avenue, North Port, FL, 34287. Boasting an RMF zoning, this prime location offers an unparalleled opportunity for a multifamily investor. Situated in the desirable North Port/Port Charlotte area, it presents the ideal canvas for a new development or expansion project. The potential is vast, promising and unlimited possibilities. Embrace the chance to shape the next chapter in residential living with this remarkable investment opportunity.

The high and dry site is located on the southwest corner of South Sumpter Boulevard and Greenwood Avenue in North Port, Florida, close to long-term demand drivers such as the area’s outdoor recreational and nature activities located throughout the Myakkahatchee Creek and Myakka Forest and River. Healthcare services are also readily available in Bayfront Health’s Port Charlotte Hospital (254 beds). The Project site lies directly north of U.S. 41, and four-miles south of the heavily trafficked Interstate 75, providing easy access to the city of Tampa, as well as other major cities in Florida, such as Miami and Orlando. The City of North Port is located in the North Port – Bradenton – Sarasota Metropolitan Statistical Area (“MSA”), which lies within Sarasota County. The MSA’s population is expected to grow at 1.8 percent per year for the next five years, outpacing expected growth of the U.S. population, which is expected to be 0.7 percent during the same period. Furthermore, the proposed population growth within the MSA is favorable for the demographics of the Project, with the 65+ age cohort anticipating a population growth of 5.3 percent from 2020 to 2025. The per capita income is $38,782, which is above the per capita income of $34,136 for the nation. The demographics of the MSA also contributes to why 47.5 percent of household incomes are between $50,000 and $149,999, which is considerably above that of the state of Florida and the U.S., at 44.4 percent and 45.2 percent, respectively. Furthermore, the MSA is observing growth of 4.0 percent in the population with incomes greater than $100,000 for the next five years, greater than that of the U.S. growth of 2.7 percent, which bolsters the area’s favorable demographics.

In addition to convenient access to multiple major cities by car, North Port is less than an hour and a half from Tampa International Airport (“TPA”). All of the major airlines, including American Airlines, Delta, JetBlue, Southwest Airlines and United all operate out of TPA, with the most frequented flights being to New York, Chicago and Atlanta. In 2019, TPA had 22.1 million in passenger volume, a 5.5 percent increase over the prior year.(1) Additionally, the Development is located less than 14-miles from Venice Municipal Airport (“KVNC”), which is serviced by Agape Flights, leases private hangars and provides a series of flight training programs.

The City of North Port has a plethora of sizable shopping centers and attractions such as the North Port Art Center and the Performing Arts Center. Furthermore, over eight accredited four-year colleges are located within a 15-mile radius of North Port, contributing to the MSA’s strong financial demographics. Schools include Southern Technical College and the State College of Florida, both of which have a significant presence within North Port.