Land is a valuable asset that appreciates over time, but if you have vacant land that isn’t being put to good use, it might take a while to see a return. There are many things you can do with vacant land that will generate a profit, so in many cases, allowing your property to sit empty is an opportunity cost.
At Palmetto Realty, we help clients purchase and develop land for a wide range of business concepts. We have the experience to help you determine the best way to use your land. If you’re unsure what to do with your Central Florida property, here are some ideas:
1. Build Your Dream Home
Zoning laws usually allow for new residential construction on most vacant land, so if your property is in a good spot with easily accessible utility lines, then building your dream home might be a good option. Homes generally appreciate faster than vacant land, plus it can provide you and your family with a nice place to live for years to come.
2. Raise Animals
If your land has a large proportion of grazeable land (as opposed to rocky terrain), accessible water, and shelter, then you might consider raising animals. If you’re thinking about starting a dairy farm, you’ll need about 2 acres of grazeable land for every cow/calf pair in order to keep them fed for an entire year. Pigs and chickens are also options — they need less land, but do require more shelter space.
3. Grow Crops
Due to its unique climate, Florida has been an agricultural powerhouse over the last two centuries, so farming is a big deal. Using your Central Florida Property to grow crops can be a highly profitable endeavor. Citrus, ferns, cattle, potatoes, lettuce, and sod are some of the state’s most commonly farmed crops. If your vacant land is zoned for farming, receives plenty of sun, and has an accessible water source and good soil quality, this could be a great opportunity.
Owning hunting land is the dream for many Florida hunters. If you have plenty of acreage and wildlife, you can hunt on your own terms. You can even make your land available for others to hunt as well. When deciding if this is the right option for your land, you’ll want to make sure you have a good strategy for managing the local habitat. You’ll also want to consider the hunting conditions on your property, the types and quality of wildlife, and the state of any adjacent properties.
5. Start A Brewery
Craft beer is incredibly popular and a large Central Florida property can serve as the perfect backdrop for a brewery. You’ll need plenty of space for the brewery itself, a bar and tasting room, space for parking, an outdoor patio area, and outdoor activities. Once you develop your beer recipes and the space, you can start marketing your business and attracting a crowd.
6. Sell Storage Space
This is an easy way to leverage vacant land to drive passive income. People all over Central Florida are constantly looking for affordable places to store boats, kayaks, jet skis, RVs, and more. All you’d need to worry about is providing a dedicated, accessible area of your property for your storage initiative and implement fencing and security cameras. You could also take things a step further and construct a series of indoor storage units.
7. Open A Driving Range
Starting a driving range can be a very lucrative business concept. You’ll need to invest in golfing pads, tees, balls, and a pick-up machine as well as landscaping costs (and netting to catch stray balls!). If you really want to get creative, you can add your own mini-golf course as well. If you love to golf, this can be an excellent pastime and business venture for you.
As an experienced land brokerage, Palmetto Realty is always consulting with clients on the best uses for vacant land. We can also help you understand zoning restrictions and easements, along with other factors that may limit the usage of your property. The best option ultimately depends on your level of investment, the location and qualities of your Central Florida property, and your personal interests. If you’re going to use your land to launch a business concept, it should be something you’re truly passionate about.
If you’re looking to develop your land with the intent to sell it, give us a call at Palmetto Realty today. Our team of land specialists can help you every step of the way.