A massive land parcel south of Kissimmee is for sale.
The historic Green Island Ranch, a 5,977-acre parcel in Osceola County, is listed for $140 million — or $23,423 an acre. The land is entitled for mixed-use development for up to 17,000 residential units.
The property is listed by Lakeland-based SVN|Saunders Ralston Dantzler’s Dean Saunders and Dusty Calderon, the latter who is a member of the family that owns the property. The property is west of Harmony and sits on either side of the Florida Turnpike with some land fronting Lake Tohopekaliga.
This working ranch has been owned by the Partin family for more than a century, and, at one time, was the largest ranch east of the Mississippi River at 60,000 acres. The family’s first patriarch arrived in the area in 1847, and the Partins introduced Brahman cattle and Quarter Horses to Florida. Later, their quadrille horsemanship performances morphed into the famous Silver Spurs Rodeo.
The land is marketed as being 25 minutes from Walt Disney World.
The property has two different approved plans: a development regional impact plan that’s good through 2030 for up to 13,000 residential units, and an Osceola County comprehensive plan for up to 17,000 units.
Business development opportunities include a marina, urban center, regional mall, industrial, office, hotel and civic space. Recreational development possibilities include a theme park, ecotourism or outdoor concert venues, according to a news release.
The residential market in Kissimmee is fairly strong, but may have its challenges, according to industry research. For example, the southwest Orlando submarket, which includes the Kissimmee area and land near Walt Disney World, has 1,052 apartments under construction, CoStar Group reported. That’s the fourth-highest among submarkets in the Orlando area.
“It depends on where you’re at,” Scott Ramey, senior managing director of New York-based real estate brokerage Newmark Group Inc. (Nasdaq: NMRK), previously told Orlando Business Journal regarding that area. “There are certain strong areas that will get rents you need [to make apartment projects profitable]. But rural areas are harder for rents.” Ramey is not involved with the Green Island Ranch property.