1.66 ACRE PROPERTY FOR SALE. Perfect Site for redevelopment due $1,500,000

Lake Lot Off Market

1.66 ACRE PROPERTY FOR SALE. Perfect Site for redevelopment due to new growth and using the new LIVE LOCAL ACT, which provides many incentives for developers. This property has a future land use plan designation of Mixed-Use Downtown and is within the City's Community Redevelopment Area (CRA). The property is located in the southeastern area of downtown Kissimmee. The site is just across the street from Lake Toho and is bordered by mostly City of Kissimmee owned properties along the lakeshore. Surrounding uses include a City owned parking lot for the Big Toho Marina, Lakefront Park, and facilities for City administration. The immediate neighborhood is a few blocks from the central business district and is southeast of the SunRail commuter train station serving downtown Kissimmee. The immediate areas to the north and west are established single family residential neighborhoods mixed with some professional office uses. Development in the area is stable and growing with a long-term trend toward redevelopment and renovation of some properties in the area, particularly some of the oldest homes and commercial buildings in the region. The immediate area is also part of the City's Redevelopment Area (CRA) which targets and encourages new and updated uses compatible with downtown Kissimmee development patterns. A major new project is under development to the east of the subject where Mosaic Development is redeveloping an 11-acre site owned by the City of Kissimmee. The project is adjoining the City's Lakefront Park, which recently underwent a $34M upgrade
that also included streetscape and utility enhancements. The site is two blocks from a multimodal transit station that offers SunRail and Amtrak commuter and passenger rail service and serves as a regional hub for bus service. The project includes 300 apartment units and 10,000 SF of commercial space. The new City owned parking garage will help support the uses within the park area. No better time to invest in this vibrant high interest neighborhood.