7759 Freemantle Way - 368 Acres in Tampa/St Pete MSA 368 Acres of Commercial Land Offered at $10,399,951 CAD in Dunnellon, FL 34433

Presented for acquisition is a rare high and dry ±368-acre land assemblage with three points of legal road access in Citrus County, Florida, positioned within an exceptional natural and outdoor-oriented enclave of the Tampa–St. Petersburg Metropolitan Statistical Area. The Tampa MSA ranks as the 17th largest in the United States, supporting a population exceeding 3.3 million residents, with more than 158,000 residents locally in Citrus County. The region continues to benefit from sustained in-migration, affordability-driven relocation, and long-term demographic momentum.
The site offers strategic regional access, located approximately 8 miles from Crystal River, 9 miles from Beverly Hills, 15 miles from Lecanto, 18 miles from Homosassa, and 19 miles from Inverness. It is also situated just miles from Marion County and the Ocala MSA. Connectivity is further enhanced by the recently extended Suncoast Parkway, a $180 million state infrastructure investment, now reaching CR 486 in Citrus County with planned continuation toward US-19 and Dunnellon Road—placing the final expansion corridor moments from the property.
Under the current Land Development Code, Citrus County maintains density allowances across approximately 60,000 vacant parcels, positioning the county to absorb an estimated 350,000 additional residents. This growth capacity directly aligns with the Tampa MSA’s projected population increase of approximately 745,000 people, or 22%, with Citrus County expected to capture an outsized share of value-driven residential demand as affordability pressures push growth northward.
The subject property is zoned RUR/MH, a transitional zoning classification strategically positioned between higher-density growth corridors and surrounding agricultural and conservation lands. The assemblage includes 41 previously platted single-family lots, generally averaging approximately 1.5 acres, providing immediate near-term monetization optionality. The remaining acreage allows residential development at a base density of one unit per ten acres, with the ability to increase density to one unit per five acres through approval of a Planned Unit Development (PUD).
Permitted uses include single-family residential, agricultural operations, and utility facilities for water and wastewater infrastructure—an important prerequisite under Citrus County policy for both PUD approvals and development agreements. Additional conditional uses, subject to county approval, include assisted living facilities, nursing homes, attached housing, communications and transmission towers, and other community-serving or infrastructure-adjacent uses, significantly expanding the project’s development optionality.
Citrus County, in coordination with the Board of County Commissioners and Inspire Placemaking Collective, is actively advancing the Citrus County 2050 Vision through comprehensive plan amendments. As the County continues its transition away from the legacy Development of Regional Impact (DRI) framework, market participants are increasingly anticipating expanded Public Service Areas, greater flexibility in Future Land Use designations, and development agreements tailored to large-scale, master-planned communities.
Importantly, the Florida Live Local Act presents a compelling entitlement-acceleration pathway for this assemblage. By allocating a limited portion of the project to workforce or affordable housing, a developer may unlock administrative approvals, zoning overrides, and density enhancements otherwise unavailable under the current Future Land Use framework. This creates an efficient trade-off: a modest affordability component in exchange for project-wide zoning certainty, density flexibility, and meaningful entitlement timeline compression—particularly attractive for large landholders seeking certainty at scale.
This offering represents a high-conviction land-banking and entitlement-arbitrage opportunity, combining near-term income and lot sale potential with mid-term entitlement and zoning upside, and long-term value creation driven by infrastructure expansion, policy evolution, and regional growth dynamics. The scale, location, and regulatory flexibility position the asset as a future master-planned community candidate within one of Florida’s next emerging growth corridors.