Under contract-accepting backup offers. This unique 20-acre property located on Tomoka Farms Road in Volusia County, FL, offers a prime opportunity for developers aiming to create a small-scale estate home development or for buyers looking for personal use, such as a ranch or farm. The current MH-3 Rural Mobile Home zoning supports subdividing into four 5-acre estate homesites, making it well-suited for single-family residences, mobile homes, or modular homes with a minimum of 720 square feet of living area per lot. Development can proceed without the need for rezoning, providing an immediate pathway for construction and investment.
In addition to residential development, the property supports rural uses such as farming, ranching, and equestrian activities, making it ideal for those looking to create a luxury rural estate with agricultural or recreational potential.
The Future Land Use (FLU) designation of Rural offers flexibility and compatibility with a range of zoning types, including A-1, A-2, MH-3, RPUD, and MPUD, giving developers significant versatility for future projects.
With approximately 650 feet of frontage along Tomoka Farms Road, the property offers excellent access and visibility. Its location is another attractive feature, just 10-15 miles from Daytona Beach and within easy reach of New Smyrna Beach and Ponce Inlet, providing residents with easy access to Florida’s renowned beaches. Proximity to the famous Spruce Creek Fly-In community, which caters to aviation enthusiasts, adds further appeal, making this property highly desirable for buyers seeking unique lifestyle amenities.
For developers, the potential market includes buyers looking for privacy, large parcels, and the ability to build custom homes in a peaceful rural setting. The zoning flexibility and large homesites make this property ideal for equestrian properties, luxury rural estates, or family ranches with ample space for horses or cattle. The lot sizes allow for expansive development while maintaining the quiet, open atmosphere sought by high-end buyers.
From a land-use perspective, the property offers favorable development conditions. According to FEMA, the site is not in a flood zone, and while a wetland delineation survey is recommended, the land appears mostly dry, further enhancing its potential for development.
In conclusion, this Tomoka Farms property offers a rare combination of rural charm, strategic location, and flexible zoning, making it an excellent investment for developers and buyers alike. Whether the goal is to create a small development of estate homes or establish a personal ranch or farm, this property offers the perfect blend of luxury, privacy, and accessibility to urban conveniences.
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $700,000 | $700,000 | $700,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.500% | 6.625% | 6.500% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.304% | 6.762% | 6.725% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $4,424 | $4,482 | $6,098 |
Total Monthly Payment | $4,516 | $4,574 | $6,190 |
* 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.