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151 1st St NW 0.47 Acres of Commercial Land Offered at $990,000 in Largo, FL 33770
Investment Highlights
- Zoning allows up to 60 units per acre, recently doubled from 30 units.
- No height restriction district-wide; only a two-story minimum applies.
- Direct city incentive programs include per-unit grants, fee waivers, and development reimbursements.
- ±28-unit yield projection with 81,892 SF potential buildable area (at 4.0 FAR).
- Located in an Opportunity Zone and Brownfield area, offering state and federal tax incentives.
- Walking distance to employment, retail, and the new $85M City Hall complex, with beaches and Tampa Bay area easily accessible.
Executive Summary
Largo recently doubled the base residential density in this district and has stackable bonuses, direct city grants, Brownfield state tax credits, and Opportunity Zone treatment. With the 74-unit Park Vista apartments already rising directly across the street, the site offers a developer a proven, incentive-rich path to build at an attractive basis
Property Facts
| Price | $990,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.47 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Price | $990,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 0.47 AC |
| Opportunity Zone |
Yes |
1 Lot Available
Lot
| Price | $990,000 | Lot Size | 0.47 AC |
| Price Per AC | $2,106,382.98 |
| Price | $990,000 |
| Price Per AC | $2,106,382.98 |
| Lot Size | 0.47 AC |
This parcel presents a significant development opportunity within Downtown Largo’s West Bay Commercial Redevelopment District. Four assembled parcels with ±0.47 acres, the site is positioned for high-density multifamily or mixed-use development.
Description
The property offers unparalleled flexibility with no maximum height limit and a FAR up to 5.0 with bonuses. It lies in an Opportunity Zone and Brownfield area, unlocking incentive-rich advantages including local grants, state tax credits, and federal capital gains benefits. Additional perks include city funding programs, fee waivers, and reimbursement options that can substantially offset development costs. Located directly across from the new 74-unit Largo Vista Apartments and a short walk from Largo’s $85M City Hall project (Horizon West Bay), the site benefits from strong market demand and ongoing public investment. Immediate access to dining, retail, and major employment corridors enhances its long-term viability. This assemblage offers a rare chance to capitalize on Downtown Largo’s rapid transformation.
Property Taxes
| Parcel Numbers | Improvements Assessment | $13,600 | |
| Land Assessment | $234,151 | Total Assessment | $247,751 |
Property Taxes
