UPDATED: MARCH 7, 10:15 AM — A working cattle ranch south of St. Cloud has hit the market for $34 million and is drawing global interest, according to the listing brokerage.
The 2,250-acre Bar Seven Ranch at 5300 N. Canoe Creek Road in Kenansville could follow a succession of large-scale agricultural land transactions in Osceola County over the last two years, led by the $136.5 million sale of the El Maximo Ranch in 2018.
Premier Sotheby's agent Miranda Cady said the buyer interest for Bar Seven has run the gamut from investors looking for long-term hold income producing land to developers to utility companies. Duke Energy is actively negotiating to lease 800 acres for a solar farm, she said. Cady shares the listing with Broker Associate Raj Goyal.
Duke opened its first solar farm in 2016 on Canoe Creek Road, on 25 acres it carved off of the Seven Bar Ranch. The Osceola project was the first in a strategic, long-range plan to install 35 megawatts of solar by 2018 and up to 500 megawatts of solar power in the state by 2024.
The ranch also offers development potential rarely found outside of Osceola's Urban Growth Boundary. The county typically would restrict any residential development in rural areas to a minimum 5-acre lot size, but the Bar Seven Ranch has an approved Planned Development calling for 369 homesites divided between two distinct subdivisions.
One would be a 144-lot equestrian subdivision with 3.5-acre lots. The other is a 245-lot fly-in community with 1-acre lots. "Each home would have a private hanger," Cady said.
Even though the PD was approved more than a decade ago, county officials confirm it is still in effect as long as the developer adheres to the county's new residential siting standards.
Osceola approved a 10-lot fly-in subdivision north of Harmony last year, but that project is largely dependent on the developer negotiating access to a privately-owned airstrip across the street. The Bar Seven development plan would include its own runway, and with over 150 lots would be the largest fly-in community in Central Florida.
The El Maximo buyer, Dubai-funded Optimum Agriculture, followed its massive land buy last year with a $7.9 million acquisition of the adjacent 1,363-acre orange grove.
In 2017, a longtime Pasco County cattle ranching family paid $18.5 million to relocate its operations to the 7,050-acre 4H Ranch in south Osceola County. And last year the Mormon Church's Farmland Reserve, Inc. paid $9.9 million for more than 4,000 acres in Harmony East, land that abuts the Deseret Ranch.
Editor's Note: This story has been updated with corrected information related to the lease negotiations with Duke Energy and the lot numbers and sizes of the approved subdivison.