Courtesy of: Elias Kirallah, Century 21 J.W.Morton R.E., elias@eliasgeorge.com
Courtesy of: Elias Kirallah, Century 21 J.W.Morton R.E., elias@eliasgeorge.com
$1,100,000
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Lot: 19.30 Acres
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Other
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$1,100,000
6725 S Rainbow Point This 19.3+/- acre development tract is strategically positioned within the Cardinal Mixed-Use Interchange Management Area (IMA), just east of the recently expanded $135 million Suncoast Parkway (SR 589) interchange in Citrus County, Florida. Situated along one of the primary northward growth corridors extending from the Tampa-St. Petersburg MSA, the property benefits from interchange-level access and sustained public infrastructure investment that continues to fuel residential and commercial expansion throughout the region. The site falls within the designated Mixed-Use Development area, allowing residential densities ranging from 6 to 20 dwelling units per acre subject to Master Planned Development (MPD) approval. Based on approximately 18+/- acres within the mixed-use designation, the property presents a theoretical development yield ranging from approximately 119 units at 6 dwelling units per acre to as many as 386 units at 20 dwelling units per acre. This density flexibility supports a variety of development concepts including multifamily, build-to-rent communities, townhomes, or integrated mixed-use residential projects, providing scale and adaptability in a supply-constrained corridor. Infrastructure accessibility materially enhances the feasibility profile of the site. A jurisdictional pressure sewer system is located within approximately 2, 000 feet of the property boundary, and a 12-inch water main is available for direct connection, providing the necessary capacity to support MPD-level development intensity. The combination of density allowances, utility proximity, and interchange positioning establishes this parcel as one of the more compelling large-scale residential opportunities within the expanding Suncoast Parkway corridor. Citrus County remains one of Florida's strongest emerging growth markets, with a current population of approximately 153, 600 residents projected to exceed 350, 000 by 2030 according to County planning estimates. The region continues its transition into a major residential, healthcare, and service hub within the Tampa Bay sphere of influence. The completed parkway expansion and planned northern Phase 3 extension-located just north of the subject property-will provide direct one-hour connectivity to Tampa International Airport and surrounding employment centers, significantly increasing regional mobility, tourism flow, and housing demand. Within a 15-minute trade area, the site serves approximately 46, 361 residents with stable demographics, including an average age of 58 and a median household income of approximately $65, 000. The convergence of sustained population growth, expanding infrastructure, and interchange-controlled density positions this property as a high-visibility, scalable, and future-proof development opportunity in one of Florida's advancing growth corridors.
Courtesy of: Elias Kirallah, Century 21 J.W.Morton R.E., elias@eliasgeorge.com
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