Development Opportunity: 622–656 Lembo Circle, Clearwater FL
Fully Entitled 10-Unit Townhome Development Site | Shovel-Ready | Clearwater, FL
Marketing description
Fully Entitled 10-Unit Townhome Development Site | Clearwater, Florida
We are pleased to present 622–656 Lembo Circle, a rare, fully entitled residential development opportunity in the heart of Clearwater, Florida.
This offering features a shovel-ready development site approved for ten (10) townhome residences, allowing a developer to immediately begin construction without the lengthy entitlement process that often delays projects and increases carrying costs.
Located in one of the most supply-constrained housing markets in Florida, this opportunity provides investors and developers with immediate access to a market experiencing continued demand for new construction housing. Clearwater's strong population growth, desirable coastal location, and limited availability of developable infill land have created exceptional fundamentals for boutique townhome developments.
Comparable new construction townhomes throughout Clearwater are currently being marketed in the $500,000–$550,000+ price range, with market data indicating continued pricing strength for newly built residential product. Based on current market conditions and comparable projects, developers may realize an estimated sellout value exceeding $5 million, subject to final product design, unit size, finishes, and prevailing market conditions.
Unlike many development opportunities requiring years of zoning approvals and entitlement risk, this project provides an immediate path to groundbreaking, allowing developers to focus on construction, execution, and value creation from day one.
This represents one of the few remaining fully entitled infill development opportunities available within Clearwater and Pinellas County.
Investment highlights
• Fully Entitled Residential Development Site
• Approved for Ten (10) Townhome Units
• Shovel-Ready Opportunity
• Immediate path to construction with approvals already in place
• Eliminates entitlement risk, zoning delays, and extended holding costs
• Prime infill location in Clearwater, Florida
• Situated within highly desirable Pinellas County
• Strong demand for new residential housing
• Limited supply of developable land creates a significant barrier to entry
• Boutique townhome product continues to outperform existing housing inventory
• Comparable new construction townhomes marketed between $500,000–$550,000+
• Estimated project sellout value in excess of $5 million (based on comparable market activity and subject to final product design and market conditions)
• Excellent opportunity for regional and national residential developers
• Close proximity to Tampa Bay, Gulf beaches, major employment centers, shopping, dining, and transportation corridors
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