Satsuma, FL 32189 - Putnam County

Land banking opportunity in Florida! Get the lowest price per acre on the market for Putnam County, Florida.

This opportunity is located in a growing residential and commercial area directly off US Highway 17 in Satsuma, Florida. Putnam County Florida has been growing with a 1.58% annual increase in population, more than 50% above the national average for cities of this size, with a 5.1% annual increase in home values since last year. The median price per acre in Putnam County is over $16,900, making this property less than half the average cost. This parcel is composed of two individual subdivided parcels, 0.44 and 0.64 acres respectively, totaling approximately 1.08 acres zoned R2 Residential. The property currently has ~69% wetlands coverage, which is the reason for the discounted price, but long-term investors do not let that scare you:

For wetland zoning in Putnam County: Prior to building, perform a delineation study and purchase mitigation credits to get the area assessed and cleared to build. The total estimated cost will vary depending on the delineation consultant's findings, however it is estimated between $3,500-$5,000 total for the delineation study and mitigation credits. With rising land values in the area and this parcel's prime location directly off US Highway 17 this is a great long-term hold to eventually sell to a developer.

Excellent proximity to shopping, libraries, lakes, and less than 90 minutes to Gainesville with access to the university, hospitals, and bigger city amenities.

Property Details

County: Putnam

State: FL

APN: 01-11-26-8242-2010-0270, 01-11-26-8242-2010-0280

Size: 1.08 Acres

Coordinates: 29.571327, -81.638306

Annual Property Taxes: $72.51

Cash Price: $7,947