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Hwy 557
For Sale $12,000,000
$12,000,000
- Unknown Bedrooms
- Unknown Bathrooms
- Unknown Sq Ft
- 13,319,459 Sq Ft
Description
The HWY 557 Lake Alfred property (Parcel ID: 262708000000012010) spans 305 acres, with approximately 92 acres of developable land, and is strategically located just 45 minutes (39.6 miles) from Orlando International Airport and 38 minutes (27.3 miles) from Walt Disney World. Currently zoned for agriculture at one dwelling unit per five acres, the site yields about 20 lots, but its contiguity to the City of Lake Alfred offers a strong opportunity for annexation, unlocking access to city water and sewer and enabling rezoning to a much higher density. With a Village Residential designation allowing four units per acre, the property has a projected yield of roughly 408 units. Directly across SR 557, Meritage Homes’ Silver Lakes community has already extended water and sewer infrastructure to their entrance, enhancing feasibility for development. CR 557 is scheduled to be widened to four lanes beginning in summer 2025, with completion expected in three years, and a roundabout will be added at the intersection of CR 557C and CR 557 to improve traffic flow. A five-acre retention pond adjacent to CR 557 will slightly reduce the total developable acreage. The property sits within an active development corridor with major builders such as Pulte, DR Horton, Meritage, and American Homes driving growth, and additional utility extensions by nearby projects will further support development. While the site benefits from strong accessibility and regional demand, considerations include its location within a 100-year flood zone requiring fill and flood insurance, areas of poorly drained soil, and an irregular parcel shape that may constrain layout and reduce final lot yield. Entitlement approvals for annexation, land use amendment, and rezoning are required, but all have a high probability of success and can be pursued concurrently, with an estimated approval timeline of six to twelve months.
Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $12,000,000 |
| Property Type | Lots/Land |
| Usable Sqft | Unknown |
| Number of Stories | 0 stories |
| Parking Spots | 0 spots |
| Year Built | 0 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 262708000000012010 |
| MLS # | L4958007 |
| Property ID | 322461792 |
| Lot Sqft | 13,319,459 |
| Zoning | RC |
| Days on Market | 63 |
| Original List Price | $12,000,000 |
| Date Updated | December 19, 2025 |
| Date Created | December 18, 2025 |
Listing Provided By
Michael Norris an agent of NEXTHOME NORRIS & COMPANY REAL. Lic #414120
© 2026 STELLAR MLS. All rights reserved. Some listings on this website are from STELLAR as of December 19, 2025 The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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Robert Crawford
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