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417 Rain Lily Cove
Casselberry, FL 32707
Rain Lily · Land For Sale
·
2.17 AC
Investment Highlights
- Outstanding Re-development Opportunity – Prime 2.17-acre plus a potential to annex an additional ±4.6 acres
- Development Potential – Up to ±50 gated townhomes, assisted living, or condominiums
- Excellent Connectivity – US Hwy 17-92, I-4, and SunRail regional commute train, offering strong access to major employment and retail centers and both
- Zoning & Land Use – Zoned PRD (Planned Residential District) with Medium Density Residential (MDR) future land use.
- Currently it’s an income-producing property with 5 tenants
- Walkable Amenities – Steps from Publix, Target, pharmacy, emergency clinic, and near Concord Park.
Executive Summary
Property Facts
1 Lot Available
Lot 1
| Price | $1,450,000 | Lot Size | 2.17 AC |
| Price Per AC | $668,204.30 |
| Price | $1,450,000 |
| Price Per AC | $668,204.30 |
| Lot Size | 2.17 AC |
Prime 2.17-acre lakefront parcel plus a potential to annex an additional ±4.6 acres Zoning: PRD | Future Land Use: MDR
Description
Rare Lakefront Redevelopment Site | Potential for ±50 units | Minutes from Winter Park & Maitland! A rare and exceptional opportunity to acquire over 2 acres of prime lakefront land, with the potential to annex an additional ±4.6 acres from the City—opening the door to a truly expansive and visionary development. Frontage is 249 FT. The property is zoned Planned Residential District (PRD) with a future land use designation of Medium Density Residential (MDR), supporting a variety of residential concepts. Early planning shows potential for developing ±50 TOWNHOMES & ASSISTED LIVING UNITS (subject to approvals). The site sits right on the corner where Seminola Blvd and Button Road intersect. Situated on Lake Kathryn, a breathtaking 74-acre, spring-fed, ski lake, the site offers a serene and picturesque setting for recreational activities including fishing, boating and skiing making it a highly desirable location for future residents. Currently operating as an income-producing asset, the property consists of 7 rental units, generating ATTRACTIVE INCOME. Leases are flexible, allowing for income during the entitlement and planning phases. Development Highlights: Exceptional ±2-acre lakefront parcel, with the potential to annex ±4.6 additional acres from the City Potential for ±50 townhomes or assisted living units (subject to approvals) Zoning: PRD | Future Land Use: MDR Public water and sewer available at the site Two existing structures with 7 rental units generating current income Gated community or assisted living facility potential Survey and additional documentation available upon request Location Advantages: Within walking distance of Publix, Target, emergency clinic, and Concord Park Close proximity to Winter Park, Maitland, Lake Mary and Winter Springs Minutes to SunRail, I-4, and SR-417 for regional access Near Altamonte Mall, Winter Park’s fine dining, and Sanford International Airport
Property Taxes
| Parcel Number | 08-21-30-542-0000-0020 | Improvements Assessment | $297,344 |
| Land Assessment | $540,683 | Total Assessment | $838,027 |
Property Taxes
