This is an excellent opportunity to develop 7± acres at 12199 Fort King Road in Dade City, FL. The site is located at the corner of Fort King Road and Roberts Road with access to Clinton Avenue. It was recently rezoned to MF-1 Multiple-Family Medium Density District offers a great opportunity for a small townhome development due to its location. The site will be fully entitled for a maximum density of 42 units and buildings are limited to 3-8 units per building with a height limit of two (2) stories. Additionally, driveways must be at least 23 feet in length. Architectural features are required to provide at least three (3) different features from a list provided by Pasco County.
Water and sewer would be supplied to the property from Dade City. Sewer will likely need to be extended to the site as development occurs. According to the Utilities Director with the City of Dade City, the current waste water treatment plant does not have sewer capacity
for development at this time. However, the City is in the design phase to build a new waste water treatment plant, which would allow for the capacity to develop additional new homes within the city.
This property is located at the NW corner of Roberts Road and Fort King Road in southwest Dade City in Pasco County, Florida. The site
proximate to the recently improved and widened State Road 52 (Clinton Avenue) and is about 1 mile northwest of the intersection of State Road 52 (Clinton Avenue) and US Highway 301 where a new Publix was recently developed. AdventHealth Dade City is a 120-bed hospital located less than 1-mile north. Additionally, there are quite a few national retailers and local businesses that are proximate to the subject along US Highway 301.
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $740,000 | $740,000 | $740,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.750% | 6.625% | 6.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.620% | 6.735% | 6.806% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $4,800 | $4,738 | $6,497 |
Total Monthly Payment | $4,892 | $4,830 | $6,589 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.