Price reduced. Accepting backup offers! On Business Highway 331 in Freeport, Florida. City of Freeport is recognized as one of the fastest growing cities in the State of Florida. Property consists of 15+ acres with approximately 750 feet of highway frontage of Business Highway 331. Zoned R-3 High Density Residential plus a flood zone rating of X will accommodate up to several units per acre for future development as per City of Freeport land use guidelines. City water, city sewer and power are available. Three schools, Freeport Elementary, Freeport Middle School and Freeport High School are located within 2 miles of this property. New middle school being built in Hammock Bay is less than 4 miles away. This property features a 2500 square foot custom home that has been meticulo