Located on Luther Rd in Punta Gorda, Florida, the Subject Property is ideally located in the midst of residential development and growth in East Port Charlotte. The surrounding area is experiencing significant growth and development which should benefit the Subject Property. Additionally, Publix, Walmart, and other retailers are located within 5 miles of the Subject Property. Convenient access to major highways, such as US-41, State Road 776, Interstate 75, and other thoroughfare roads makes for easy travel throughout the Charlotte County MSA. Punta Gorda has experienced a population growth greater than 42% since the year 2000 and is expected to experience even further explosive growth with current trends showing great than 1,000 people moving to Florida every day. Median household incomes are up over 33% while property values have increased nearly 102% since 2000. Punta Gorda is primed to see continued growth in all areas of the local economy which will certainly benefit the Subject Property. The Subject Property is 2.37 acres of vacant land located on Luther Rd in Charlotte County. This piece of property offers the opportunity for residential development. Located in an area of growth, the Subject Property offers the buyer many current and future development opportunities. Additionally, the Subject Property is located near Interstate 75 allowing for easy transportation throughout southwest Florida. The Subject Property has a zoning designation of Residential, multifamily (RMF10) with an underlying zoning and future land use (FLU) of Medium Density Residential (MDR). Due to the location, the Subject Property will be attractive to multiple residential land buyers.
