382 SFD Lots - Citrus County

Yesterday, while using our software to find off-market land opportunities I came across a 148 acre tract of land purchased in late 2023 for $1,800,000. There are presently no permits or other data points associated with this project. After researching the owner (James Dicks) I called DIX Development. Mr. Dicks, stated they intended to develop 382 SFD units (land basis of $4,712/unit), and while it was not available at the present time, they had received 20 LOI's. The lot layout suggests most lots will have limited view premiums and assume these are 40' to 50' typical. I would surmise that at completion of entitlements the enhanced land basis will be closere to $20K/unit, suggesting a very nice profit margin. He seemed a little agitated that someone was calling on the land, but that is what we do in the land sourcing industry. I've added this tract to our off-market data sets within Landfinder.AI. To access DIX Development click the LINK. DIX Development has other nearby mixed use projects in the pipeline including Multi-Family and Commercial. Primarily a central Florida company specializing in residential development, they've expanded. With a deal like this who can blame them for expanding.