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    The Largest CRE Database in the US with Over 1 Million Listings

    116 E Greentree Ln Lake Mary, FL 32746

    Sponsored
    For Sale
    $2,000,000

    Land - LAKE MARY, FL

    Lot size:
    4.97 Acres
    Days on Market:
    184
    Last Refresh:
    Mar 3 at 12:06 am

    Property Features for 116 E Greentree Ln

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R-1AAA
    APN
    11-20-29-5DN-0100-0160
    Pets allowed
    Yes
    Exterior features
    Paved
    Lot size
    4.97 Acres

    Taxes and HOA fees

    Expense value
    65.080001831055
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Monthly

    Utilities

    Water front features
    Lake Front, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Rachel Grant
    Rachel Grant

    Charles Rutenberg Realty Orlando LLC (407) 622-2122

    Listing agent Rachel Grant (407) 622-2122 License #3211415

    Listing date Sep 1, 2025

    MLS# O6115397 Listing URL

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

    Learn more

    Property Insight Report

    Overview

    Lakefront Buildable Lot in Heathrow

    This approximately 5-acre lakefront property is a buildable lot in the Markham Heathrow area, overlooking Lake Marietta. The property features approximately 749 feet of waterfront shoreline and is surrounded by close to 20 acres of preserved property. Located in Hanover Woods, a community with custom luxury homes on large acreage parcels, this lot offers the opportunity to build a lakefront estate home in a desirable area with lake views. The Heathrow - Lake Mary area is known for privacy and luxury, surrounded by natural beauty, and has access to Seminole County schools, shops, and services. Residents can enjoy the Seminole Wekiva Nature Trail, a 14-mile recreation trail that is part of the Florida National Scenic Route and Wekiva Preserve, with 45,000 acres of natural preserve and wildlife. The location also provides an easy commute to Downtown Orlando, local attractions like Disney and Universal Studios, and beaches within a 45-minute drive. There is no required timeline to build. Land survey and soil sample information is available. The zoning is R-1AAA.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ficap Construction Company

    Suggested Use

    Real Estate Agency Law Firm Building Supply Spa & Massage Center Auto Repair Shop Kitchen & Bath Showroom Accounting Firm HVAC Service Electrical Service Cafe & Coffee Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lake Mary
    County
    Seminole
    State
    Florida
    Longitude
    -81.376136
    Latitude
    28.769866

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    FAQs

    What type of property is this?
    Land - Approx. 5-acre lakefront property in a desirable, tranquil community.
    Where is this land located?
    The property is located at 116 E Greentree Ln Lake Mary, FL.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: - 5-acre lakefront property on Lake Marietta in the desirable Markham Heathrow area, offering privacy and luxury.; - Buildable lot with approximately 749 feet of waterfront shoreline and **views of the lake from almost every angle.**; - Located in Hanover Woods, a tranquil community of luxury custom homes on large acreage parcels.
    (407) 488-6685
    Request Owner's contact information
    116 E Greentree Ln Lake Mary, FL 32746
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    Lake Mary, FL 32746
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    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
    116 E Greentree Ln Lake Mary, FL 32746
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    We can help!
    Listing Contact
    Rachel Grant
    Rachel Grant
    Real Estate License ID: 3211415
    (407) 488-6685 (407) 622-2122 (407) 782-5097
    Learn more
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