SR 70 Hard Corner Development Site, Southwest Florida

Highlights

• High Growth Area with increased combined traffic counts to almost 33,000 cars per day
• Just east of the Master-Planned Lakewood Ranch Community which is expanding eastward
• Highly Visible and Accessible Corner Lot with road changes to include a roundabout
• Future "Hard Corner" location with closing of the west-bound to north-bound off ramp
• Agricultural Zoning allowing for numerous uses and potential to Rezone

Description

Incredible development / land-banking opportunity at the eastern edge of fast-growing Lakewood Ranch. Located at the corner of SR 70 and CR 675 in Manatee County with tremendous growth all around, this is your chance to acquire a property in a high demand area. Growth eastward on SR 70 is expected to continue to increase as evidenced by the recent combined traffic count escalations to almost 33,000 cars per day.

The current agricultural zoning of the property allows for commercial uses that support the agricultural community including office, veterinary clinic, equipment sales, pet kennel, and even a Bed & Breakfast. With another nearby lot (at SR 70 and Vena Bethany Road) already grated PD-C zoning, there is great potential to rezone the property to Commercial opening the door for a variety of uses including a Drive Thru establishment, restaurant, bar, dollar store, general store, gas station, farm store, or other supportive retail uses.Owner has had several preliminary site plans drafted for suitable uses presenting the opportunity for development.

This intersection is part of Phase 2 in a road widening and development project occurring along SR 70 from Lorraine Road out to CR 675 and is expected to begin construction in the second half of 2024. Included in that project is the widening of SR 70 from 2 lanes to 4 lanes in order to support commuter and freight traffic that has increased in the area over the last few years, as well as the construction of a roundabout at the corner of CR-675 and SR-70 offering unparalleled visibility, lower traffic speeds, and increased accessibility to the property. In conjunction with the added roundabout, the "off-ramp" from westbound SR-70 onto northbound CR-675 will be demolished, making this site a true hard corner. Initially the land under the demolished roadway will serve as a buffer to the adjacent properties, however there is potential to have this right-of-way vacated allowing for this additional land to be added to this development site, making it grow in size and opportunity.



Population Growth and Development: In the last twelve years, Manatee County has seen a 23% increase in the population compared to the 15% increase seen across the state. By the year 2023, the county is expected to see another 13-21% population growth which will only drive the need to continue to expand Eastbound into more rural areas such as Myakka City. We can even see the significance of this population growth within a five mile radius of the subject property as it has nearly doubled in the last 4 years, Rising from 6,934 to 12,591.

Situated at the corner of CR-675 and SR 70, this site is part of a hub allowing access North to South and East to West. CR-675 is a main north-south road that leads up to SR.64 and northwards into the exploding Parrish, Florida area. While SR-70 spans the entire state connecting Bradenton on the west coast, across the state through premium agricultural and farming areas such as Myakka City, Arcadia, Okeechobee, and over to the East Coast in Fort Pierce. As such SR-70 has been recognized by the state of Florida as a Strategic Intermodal System Road as a high priority for transportation throughout the center of the state.

Neighborhood development in surrounding areas is continuing to boom and expand with a sizable number of active residential building permits. Neighborhoods featuring extensive growth and expansion include: University Lakes GDP, Country Club East/ Cypress Banks, and Del Web at LWR. The exponential growth to this area points to a lack of essential retailers and service providers such as gas stations and convenience stores as the nearest one is over 6 miles away, as well as office and medical office.

Not only is this site at a highly trafficked intersection, but it is also located just outside of Lakewood Ranch. Lakewood Ranch has been recognized as the #2 top-selling master-planned community in the nation and recognized by Manatee County as one of four major growth and focus areas of the County. This site is positioned at the closest main intersection to the high-end Panther Ridge and Pomello Ranches subdivisions, as well as the Concession Golf Club. Other nearby amenities and attractions include The Premier Sports Campus at Lakewood Ranch, Lakewood National Golf Club, TreeUmph! Adventure Course, Bearadise Ranch Bear Preserve, and the location of the Sarasota Medieval Fair which is open throughout the month of November.

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