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An investment group led by Orlando real estate broker Daryl Carter paid $1.3 million for roughly 100 usable acres on Coon Lake, just west of St. Cloud.
An investment group led by Orlando real estate broker Daryl Carter paid $1.3 million for roughly 100 usable acres on Coon Lake, just west of St. Cloud. (Maury L. Carter & Associates)

An investment group led by Orlando real estate broker Daryl Carter has purchased 236.5 acres in rural Osceola County on the Alligator Chain of Lakes.

The three parcels include roughly 100 developable acres, and more than 100 acres of submerged land on Coon Lake. The president of Maury L. Carter & Associates told GrowthSpotter his family was among the investors, and they bought the land on Coon Lake as a long-term hold.

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The three parcels have a combined market value of nearly $4.7 million, according to the Osceola County Property Appraiser. The Carter group bought all three for $1.3 million on Aug. 11.

The Coon Lake property pictured here currently has agricultural exemptions valued at more than $4.5 million.
The Coon Lake property pictured here currently has agricultural exemptions valued at more than $4.5 million. (Maury L. Carter & Associates)

The sellers were heirs of the late Margaret Barber Vickery.

All three parcels have agricultural exemptions, making the taxable value a fraction of the market value. "We're going to maintain the interim Ag use and keep the cows," Carter said. "But it's in an area that hopefully in the future will start to develop."

The site is located just north of Bass Road and east of the St. Cloud city limits. It's also in close proximity to the future Northeast Connector toll road interchange at Nova Road.

"There's a lot going on to the north, with Medical City and Tavistock. And things are cooking over in St. Cloud, too," Carter said. "We think it's about a five- or 10-year hold. It's a little tricky to get to, so it will depend on the area and the road network developing around it. But it's a beautiful piece of property, and that lake is on a chain of six lakes. We feel like it's a good investment and a good price."

Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407)420-6261, or tweet me at @LKinslerOGrowth. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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