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6725 S Rainbow Point, 
Homosassa, FL 34446

$1,100,000


Bed


Bath


-

Sq Ft


19.30

Acres (Lot)


Land


Virtual Tour

Active

Listed by

Elias Kirallah

Century 21 J.W.Morton R.E.

Last updated:

March 9, 2026, 03:19 PM

MLS#

OM718653

Source:

MFRMLS

About This Land

6725 S Rainbow Point

This 19.3± acre development tract is strategically positioned within the Cardinal Mixed-Use Interchange Management Area (IMA), just east of the recently expanded $135 million Suncoast Parkway (SR 589) interchange in Citrus County, Florida. Situated along one of the primary northward growth corridors extending from the Tampa–St. Petersburg MSA, the property benefits from interchange-level access and sustained public infrastructure investment that continues to fuel residential and commercial expansion throughout the region. The site falls within the designated Mixed-Use Development area, allowing residential densities ranging from 6 to 20 dwelling units per acre subject to Master Planned Development (MPD) approval. Based on approximately 18± acres within the mixed-use designation, the property presents a theoretical development yield ranging from approximately 119 units at 6 dwelling units per acre to as many as 386 units at 20 dwelling units per acre. This density flexibility supports a variety of development concepts including multifamily, build-to-rent communities, townhomes, or integrated mixed-use residential projects, providing scale and adaptability in a supply-constrained corridor. Infrastructure accessibility materially enhances the feasibility profile of the site. A jurisdictional pressure sewer system is located within approximately 2,000 feet of the property boundary, and a 12-inch water main is available for direct connection, providing the necessary capacity to support MPD-level development intensity. The combination of density allowances, utility proximity, and interchange positioning establishes this parcel as one of the more compelling large-scale residential opportunities within the expanding Suncoast Parkway corridor. Citrus County remains one of Florida’s strongest emerging growth markets, with a current population of approximately 153,600 residents projected to exceed 350,000 by 2030 according to County planning estimates. The region continues its transition into a major residential, healthcare, and service hub within the Tampa Bay sphere of influence. The completed parkway expansion and planned northern Phase 3 extension—located just north of the subject property—will provide direct one-hour connectivity to Tampa International Airport and surrounding employment centers, significantly increasing regional mobility, tourism flow, and housing demand. Within a 15-minute trade area, the site serves approximately 46,361 residents with stable demographics, including an average age of 58 and a median household income of approximately $65,000. The convergence of sustained population growth, expanding infrastructure, and interchange-controlled density positions this property as a high-visibility, scalable, and future-proof development opportunity in one of Florida’s advancing growth corridors.

Land Facts

Description/Design:

Land

Lot Size (Acres)

19.30

MLS #:

OM718653

Last Updated:

March 9, 2026, 03:19 PM

Added:

25 day(s) ago


Finances & Disclosures

Finances

Price:

$1,100,000

MLS Logo
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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.