Zoned for Church + Schools + City Approved Unit Development
“Income-Producing Asset
Marketing description
exible B-3 zoning, allowing a wide range of uses including mixed-use residential, school, church, medical, and institutional applications by-right.
By-right development supports approximately 60–70 residential units at up to 105 feet in height, offering a clear and executable path for redevelopment.
Additionally, the asset presents a density upside opportunity through Florida’s Live Local Act, which may allow for significantly increased unit yield (±130+ units), subject to City approval and entitlement process.
In addition to redevelopment potential, the property offers compelling near-term NOI growth through mark-to-market leasing. Current in-place rents average approximately $21/SF, which is materially below market comparables in the $28–$30/SF range, providing a clear path to income expansion through lease renewals and re-tenanting.
Investment highlights
Covered Land with Immediate Cash Flow + Development Upside
- Strong in-place income of ~$571K at $21,80 per sqft annually with upside to ~$752K $28 per sqft stabilized
- Allows investors to carry the asset while entitling or repositioning
- Rare opportunity to combine income + redevelopment in one deal
📍 Prime Dixie Highway Corridor Location
- Located on high-traffic N Dixie Hwy corridor
- Positioned within NW CRA (redevelopment zone)
- Strong surrounding growth, retail demand, and multifamily expansion
🏢 Flexible B-3 Zoning (One of the Most Powerful Zoning Categories)
- Allows:
- Mixed-use residential
- Retail, office, medical
- School, ALF, daycare, church, etc.
- Wide range of institutional and commercial uses permitted by-right
📏 By-Right Development Capacity (Low Risk)
- Up to 105 feet height
- Approx. 60–70 units by-right
- Mixed-use permitted
🚀 Live Local / Density Upside (High Reward)
- Potential to increase density to ~130+ units
- Prior city interpretation supported eligibility
- Path exists via:
- City Commission approval
- Legal / entitlement process
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