15815 Old Us Highway 441Tavares, FL 32778

Property Details for 15815 Old Us Highway 441

Year built

1946

Construction

WOOD FRAME

Lot size

5.71 AC

Property size (Sq ft)

1,500 SF

Property type

Industrial land

APN

27-19-26-0500-000-00102

APU

271926050000000102

Description

This exceptional 9.73-acre parcel in Tavares, Florida, presents a unique multifamily development opportunity. Located on Old US Hwy 441, it boasts 560 feet of frontage on both the highway and Lake Saunders. Zoned for 240 apartment units, this property offers the only remaining large-scale development site on Lake Saunders, allowing for a garden-style multifamily complex. The site includes approximately 8.88 acres of uplands and direct lake access via a dock and boat ramp. Situated between Mount Dora and Tavares, this location benefits from its proximity to the Lake County seat and the historic downtown of Mount Dora. The area is experiencing rapid growth, fueled by its desirable location between Orlando and The Villages, and enhanced by the recently completed extension of the 453/429 Tollway, providing quick access to Orlando. Much of the pre-development site assessment work has already been completed, streamlining the development process. The combined parcels are being sold as one, presenting a compelling investment opportunity in a thriving residential market. The property's APN is 27-19-26-0500-000-00102. The asking price is $3,980,000.

• CAP approach

  CAP return

  Valuation

  6%

  $655,461

  6.5%

  $605,041

  7%

  $561,823

• Comparable approach

  Method

  Valuation

  Relative Method

  $334,648

  Geo Method

  $334,648

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $313,504

  Mixed-Use / Specialty

  $314,941

  Hospitality / Lodging

  $234,389

  Office

  $315,731

  Institutional / Educational

  $328,325

  Residential Income

  $384,140

  Multifamily

  $446,553

  Automotive / Energy

  $281,421

  Parking / Income-Based Land

  $94,590.90

  Restaurant / Food Service

  $169,256

  Healthcare / Senior Housing

  $320,346

Location Insight

City

Tavares

County

Lake

State

Florida

Latitude

28.8045

Longitude

-81.6942

CBSA code

36740

CBSA name

ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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