610 S Highland St 8.77 Acres of Commercial Land Offered at $4,534,400 CAD in Mount Dora, FL 32757

610 S. Highland Street
The downtown Mount Dora development site is ideal for a mixed-use commercial/residential project including multifamily, townhome, BTR, resort project, age 55+ community, senior independent living, senior care, street retail and office in the Highland Street Development District in historic Downtown Mount Dora, Florida. The site is on Old US Hwy 441, 2/3 miles south of 5th Avenue. Old US Hwy 441 is a primary through-fare through Mount Dora connecting Tavares to the west and US 441 and Apopka – Orlando to the south.
The multi-generational property is ideally located adjacent to the Highland Street overpass over the abandoned historic railway that will be converted to a Rails-to-Trails project in the coming years. The two combined parcels consist of 8.77 acres at the corner of Highland Street and Camp Ave and extend to the rail-way overpass along Robie Avenue. The property has 580 ft of frontage on Highland Street / Old US Hwy 441. The average daily vehicle traffic at the site is 6,100 AADT. The 8.77 site is reported to be uplands and is mostly level with a slight grade to the south.
The intent of the Highland Street Development District is to promote the redevelopment and reconditioning of the older commercial and residential properties along Highland Street into a walkable street front with modern retail, office and residential properties providing a variety of goods and services and recreational activities. The subject parcels are poised to allow a multi-story retail/office and residential development as a southern anchor to the district.
MU-1 zoning provides a density of 6-35 units per acre and/or a maximum commercial /retail intensity of 3.00. The Future Land Use guidelines suggest a combination of 50% residential and 50% retail/office with up to three floors of residences above street level retail-office. The parcels provide one of the few remaining opportunities to develop a large-scale, multi-family apartment / retail-office complex within the City of Mount Dora.
The city of Mount Dora and nearby Northwest Orange County, Lake County, Tavares and Eustis areas are highly desirable residential living locations. The immediate area is seeing rapidly increasing development and growth due to countryside and lake front settings and its ideal and easily accessible location between Orlando and The Villages to the west. The just completed extension of the 453/429 Tollway from Orlando to SR 46 provides modern and rapid access to the Orlando metro area less than ½ hour to the southeast. Northeast Lake County is now realizing the residential and commercial development pace of the greater Orlando suburban areas of the past ten years. The combined property price is $3,250,000.