±16.2 Acre Vacant Land

Address: NE Corner of Cove Rd & Willoughby Blvd Land Size: 16.2 Acres Density: Up to 15 Units per acre based on SB 102 (See Page 3 and Pre-App report in Due Diligence file) Land Use: Limited Commercial, Cor-2 Future Land Use: Commercial Limited Utilities: Water and Sewer provided by Martin County UtilitiesThis is an opportunity to purchase a 16.2-acre parcel of land in Martin County within the urban service district, with Commercial Limited and COR Land Use designations in place. The owner has met with the county regarding an SB102 development and the pre-application meeting summary can be found in our due diligence folder. The seller is looking for qualified developers, who intend to seek development approval under SB102 for the development of a multifamily project. The seller recognizes the time table for development, and is looking for the time table of the contract to follow the approval time table with hard non-refundable deposits along the way, as milestones are reached. Development opportunities such as this are hard to find in Martin County and although SB102 has opened up some additional opportunities, the location of this opportunity is prime for residential apartment development.