5 Acres at just only $50K an acre in Punta Gorda. Just 6 miles to Downtown Punta Gorda and 4 miles to I-75. RE-1 Zoning. 336' of frontage on Palangos Dr. Development opportunity or Build Your Dream home and be able to have a Mini farm estate. RE-1 zoning allows for one single family home an acre, making it an ideal investment for a residential development at just $50K an acre.