0 Street Road 557Lake Alfred, FL 33850Price: $12,000,000

  • Price: $12,000,000
  • Est. Mortgage of $/month
  • 155 Days on Market
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Federal 30-year interest rate: 6.51% last updated on May 21, 2026
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $12,000,000List Price
The St Rd 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 557A 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. Directions: From I-4, take exit 44 toward Polk City. Turn L onto SR 559, R on CR 557.

Property Details of 0 Street Road 557

Property Details

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$
$
%
Est. Mortgage:
$/month over payments
Federal 30-year interest rate: 6.51% last updated on May 21, 2026. * The above figures are estimates provided by Union Street Media using the FRED® API, and are not endorsed or certified by the Federal Reserve Bank of St. Louis. Check with your lender for actual interest rates.
Listed by Michael Norris of NEXTHOME NORRIS & COMPANY REAL (863-875-5583)

Listings courtesy of StellarMLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of May 23, 2026 6:00 AM EDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers’ personal noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. The use of the MLS GRID Data may be subject to an end user license agreement.

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