ORLANDO, FL—Capstone Land Sales announces the $3.6 million sale of a 12.7-acre development site in the Orlando suburb of Apopka, Florida. Situated at 1951 S Binion Rd, the site is nestled between SR 429 and Lake Apopka.
Capstone’s Brian Hunsicker, Jad Richa, and Nasser Al-Hafi sold the property on behalf of a local seller.
The buyer, Washington D.C.-based Republic Properties Corporation, plans to build a 180 unit market-rate apartment community to be named Harmon on the Lake.
“Apopka is the second fastest growing city in the Orlando MSA with population counts forecasted to double by 2030, making it a boomtown for residential development,” said Hunsicker, the lead broker on the sale.
“The connectivity being created by the $1.6B Wekiva Parkway Extension as well as the economic growth from the new $203MM AdventHealth medical campus and Mid-Florida Logistics Park is creating significant housing demand in the Apopka submarket,” added Jad Richa, Capstone’s Managing Director of the firm’s Tampa brokerage office.