4188 Domminick Dr - Residential LAND FOR SALE


New Port Richey, FL 34653- Seven Springs121,968 SF
$3,100,000 USD
813-380-0783
4188 Domminick Dr, New Port Richey, FL for Sale
$3,100,000 USD
Residential LAND - FOR SALE
1/4
121,968 SF

4188 Domminick Dr
New Port Richey, FL 34653
Seven Springs


OVERVIEW

Wood Trail Apartments is a fully entitled, shovel ready multi-family development located in the growing New Port Richey submarket of the Tampa–St. Petersburg–Clearwater MSA. This 90-unit project is strategically positioned within one of Florida’s most dynamic and affordable suburban markets, benefiting from strong population growth, infrastructure investment, and increasing demand for high-quality rental housing. This thoughtfully designed, garden-style community has received all necessary zoning approvals and entitlements, eliminating pre-development risk and allowing for a streamlined path to construction. With architectural plans complete and permits ready to issue, groundbreaking is anticipated in Q3 2025. The property will feature one four-story building with ground-floor parking, an average unit size of 1,125 SF, and a total of 101,244 net rentable square feet. Located within minutes of Clearwater Beach, St. Pete, and Downtown Tampa, the site enjoys proximity to major employment hubs including Tampa General Hospital, MacDill Air Force Base, Bloomin’ Brands headquarters, and the bustling Downtown Tampa business district. The New Port Richey submarket offers an attractive cost advantage compared to surrounding coastal communities, appealing to workforce renters seeking affordability without sacrificing access to jobs, retail, and recreation. Importantly, this investment opportunity offers strong projected returns with an 8% preferred return and a 50/50 backend split targeting a 22–25% IRR. The project is fully entitled, with land acquisition completed and debt funding scheduled for Q3 2025. All major design and engineering work is in place, providing a turnkey opportunity for investors to participate in a high-demand, supply-constrained rental market poised for growth.

FOR SALE DETAILS

PRICE

$3,100,000 USD

PRICE/ACRE

$1,107,143/AC

PRICE/SF

$25 USD /SF

# OF LOTS

-

LAND DETAILS

PROPERTY NAME

Woodtrail Apartments

PROPERTY TYPE

Land

PROPERTY SUBTYPE

Residential

LAND PROPOSED USE

Multi-Family, Apartment Units - Condo, Apartment Units - Dorms, Apartment Units - Senior, Apartment Units - Subsdzd

LAND ACRES

2.8 AC

LAND SF

121,968 SF

OFFSITE IMPROVEMENTS

Sewer, Water, Electricity, Gas, Streets, Curb/Gutter/Sidewalk, Cable, Telephone, Irrigation

ZONING

PD

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Michael LermanMCL Property Services LLCMore Info
813-380-0783

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Michael LermanMCL Property Services LLCMore Info
813-380-0783

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.