12
Map
29824 WELLS ROADS
About This Property
Excellent opportunity for builders, developers, and investors. This ±9.8-acre property comes with an approved MPUD for 31 residential lots, significantly reducing the time and risk associated with the entitlement process. Located in the fast-growing Wesley Chapel corridor near Overpass Rd and I-75, surrounded by rapid residential and commercial growth.
MPUD Approved for 31 residential lots * Conceptual plans available*Strong development potential *Convenient access to I-75, Overpass Rd, schools, shopping, restaurants, and hospitals, minutes from Tampa Premium Outlets, KRATE, Epperson Lagoon, and major new developments.
Ideal opportunity for home builders or land investors seeking a ready-to-develop project in one of Pasco County's fastest-growing areas
Buyer to verify all development details, zoning, utilities, engineering, and permitting information with Pasco County.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Mar 19, 2026 | Price Decreased |
$1,750,000
↓ $249K
(12.5%) | |
| Price Decreased | |||
| Mar 10, 2026 | Price Decreased |
$1,999,000
↓ $150K
(7%) | |
| Price Decreased | |||
| Jun 4, 2025 | Listed by FUTURE HOME REALTY INC | $2,149,000 | |
| Listed by FUTURE HOME REALTY INC | |||
| Aug 13, 2020 | Sold | ||
| Sold | |||
| Jan 26, 2006 | Sold | ||
| Sold | |||
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About Wesley Chapel
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017