Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1022 Portulaca Drive Indian Lake Estates, FL 33855

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    LAND - Indian Lake Estates, FL

    Lot size:
    0.50 Acres
    Added:
    Sep 16, 2025
    Days on Market:
    215
    Last Refresh:
    Apr 18 at 4:06 am

    Property Features for 1022 Portulaca Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RESIDENTIAL
    Standard status
    Active
    APN
    293113994090030411
    Lot size
    0.50 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    INDIAN LAKE ESTATES UNIT 9 PB 40 PG 42 BLK 304 LOT 11 SEC 13 31 29
    Tax Annual Amount
    125

    We can help!

    Listing Contact
    Danelia Martinez

    Listing agent Danelia Martinez License #3481851

    Listing office Partnership Realty Inc. 1663 S Congress Avenue, West Palm Beach, FL

    Listing date Sep 16, 2025

    MLS# R11124459

    Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Land in Golfing, Fishing Community

    This vacant 0.50-acre lot is located in a Central Florida golf, fishing, and boating community. The community is centered around a large lake known for trophy bass fishing, and residents have access to a boat ramp and fishing pier. Other amenities include an 18-hole golf course, clubhouse, restaurants, post office, fitness center, library, and pro shop. Recreational facilities include a game room, walking and biking trails, tennis courts, and 4 pickleball courts. Located 20 miles east of Lake Wales and an hour from Orlando or Tampa, this property offers recreation and convenience. This property is zoned residential. The property is located in Indian Lake Estates, FL.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Indian Lake Estates
    County
    Polk
    State
    Florida
    Longitude
    -81.3374
    Latitude
    27.8012

    Nearby Similar for Sale

    • $16,900

      Vacant Lot in Gated Community

      Half-acre vacant lot in Indian Lake Estates, Florida.
      1020 ALTHEA DRIVE, INDIAN LAKE ESTATES, FL 33855
      View Details
    • $19,999

      Corner Lot in Gated Community

      0.60-acre corner lot in Indian Lake Estates, Florida.
      402 LAGUNA Drive, Indian Lake Estates, FL 33855
      View Details
    • $15,000

      Residential Land in Peaceful Community

      0.50-acre lot in Indian Lake Estates, Central Florida.
      0 ALLAMANDA DRIVE, INDIAN LAKE ESTATES, FL 33855
      View Details
    • $28,000

      Oversized Corner Lot in Lake Community

      0.55 acre buildable lot with lake access and amenities.
      3250 PLUMOSA DRIVE, INDIAN LAKE ESTATES, FL 33855
      View Details
    • $12,000

      Residential Lot in Golf Community

      0.5-acre lot in Indian Lake Estates, Florida.
      0 OLEANDER DRIVE, INDIAN LAKE ESTATES, FL 33855
      View Details
    • $28,000

      Corner Lot in Lake Community

      Oversized corner lot in Indian Lake Estates, Florida.
      Blk 254 Lot 7 EL DORADO DRIVE, INDIAN LAKE ESTATES, FL 33855
      View Details
    • $34,900

      Mixed-Use Lot in Indian Lake

      0.54 acre mixed-use lot suitable for residential and commercial use.
      6691 DELAND AVENUE, INDIAN LAKE ESTATES, FL 33855
      View Details
    • $15,000

      Half-Acre Lot in Gated Community

      Half-acre lot in gated community with lake access and amenities.
      0 LAGUNA DRIVE, INDIAN LAKE ESTATES, FL 33855
      View Details
    • $14,500

      Residential Lot in Gated Community

      Half-acre residential lot in Indian Lake Estates, Polk County, Florida.
      Azalea Drive, Indian Lake Estates, FL 33855
      View Details
    • $34,900

      Prime Lot in Indian Lake Estates

      0.54 acre lot near Lake Walk in the Water.
      6591 DELAND AVENUE, INDIAN LAKE ESTATES, FL 33855
      View Details
    • $25,000

      Half-Acre Lot in Golf Community

      Half-acre lot in Indian Lake Estates with community amenities.
      4311 GARDENIA DRIVE, INDIAN LAKE ESTATES, FL 33855
      View Details
    • $25,000

      Residential Land in Golf Community

      Half-acre lot in Indian Lake Estates with community amenities.
      515 GAILLARDIA DRIVE, INDIAN LAKE ESTATES, FL 33855
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 0.50-acre lot in Central Florida golf and fishing community.
    Where is this residential land & home lot located?
    The property is located at 1022 Portulaca Drive Indian Lake Estates, FL.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Vacant 0.50‑acre lot in a premier Central Florida golf, fishing, and boating community.; Access to a large lake famous for trophy bass fishing with boat ramp and fishing pier.; Enjoy an 18‑hole golf course, clubhouse, restaurants, fitness center, and pro shop.
    (305) 200-2266
    We can help!
    Listing Contact
    Danelia Martinez
    Real Estate License ID: 3481851
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!