Land•Other•For Sale

Future Townhouse or BPO Opportunity Riverview

11841 Balm Riverview Road, Riverview, Florida 33569

Sale Price $489,000 ($2.33 /SqFt)
Sale Type Investment
Zoning AS-0.4 FLU = R-4
Land Area 4.82 Acres
Improvements Raw land
Land Use Residential
Market Tampa/St. Petersburg
Sub-Market Southeast Hillsborough
Parcel# 077357-0007
4.82 acres zoned AS-0.4 with future land use R-4. The fish ponds received Wetlands Exemption from Hills. County EPC. It can potentially be developed for town houses as a Planned Development (4 units per acre) or rezoned commercial based on preliminary discussions with Hillsborough County. A Rezoning Pre-Submittal meeting was held 11/20/19 and it was determined that the property is close, but not located within 900 feet of a "commercial node", which is the intersection of Balm Riverview Road and Rhodine Road. A waiver to the commercial node policy would be required for commercial and improvements to Balm-Riverview Road would likely be required if the property is rezoned to commercial. The improvements would be less likely to be required for town homes. The property is bordered by residential parcels on all sides, with DMV Auto Service further to the south. CVS drugstore owns a parcel at the NW corner of Balm Riverview and Rhodine, the Balm Professional Center is located just southeast and consists of a mix of medical and professional offices. This area of Hillsborough County is booming with development and this property could make for a great office park, daycare, self storage or many other commercial uses upon rezoning. The property was formerly used as a tropical fish farm and reportedly when the ponds were excavated the soil remained on site and was built up in berms around each pond. Therefore no soil was reportedly removed from the site. The 2018 FDOT AADT count was 16,500 on Balm-Riverview Road. The property is approximately 439 feet along the eastern side; 373 feet along the west; 448 feet along the northern boundary and 667 feet along the southern boundary.
  • 4.82 acres zoned AS-0.4 with future land use R-4
  • Fish Ponds are Wetlands Exempt
  • Potential for development with town houses as a Planned Development (4 units per acre) or rezoned commercial
  • Riverview is booming with development and this property could also make a great office park, daycare, self storage or many other commercial uses upon rezoning
  • New subdivision of up to 324 homes is in progress less than 750 feet west of this property at 11650 Rhodine Road.
  • 184 acres approved for 283 homes is under contract at 13621 Rhodine Road.
2/26/2020 12:00:00 AM 3/6/2020 3:24:23 PM
Shane Billings
Commercial Sales Associate
Bridgewater Commercial Real Estate
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