Calling all Investors, Developers, and Builders! This exact plot of land sold for $1,190,000 in 2005! This is a Unique opportunity for a high-end townhome project with a Development Order and Engineering already completed and in place(this is a savings of over 50k!). This large parcel is zoned RM2 up to 6 units. Architectural plans for 2BD/2BA/ 2 car garage Villas have already been drawn, but a new builder/developer may build any size Villa they wish, up to six units. Located in the popular, high-end community of Peppertree Point, Stella Del Mar is a 34 unit Gated, canal front Subdivision w/ private pool. Peppertree Point offers its owners direct access to the Gulf of Mexico with launching priviledges from the marina. Other amenities include tennis courts, private beach, 400ft fishing pier, and more. Only a short drive Sanibel and Fort Myers beaches and other great dining/shopping locations. Comps show completed townhome units should sell between 250-275k, this puts the land cost of the total development at apprx 12%, this is a steal for any developer. The carrying cost are very low, taxes are apprx $2,800 Plus there are No HOA fees until C/O. Agents, see attached survey and D/O.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
