Triplex with Separate
For Sale
Under Contract
$619,900
220 RIDGECREST Loop, Minneola, FL 34715
Residential Income, MINNEOLA, FL
Property Size2,700 SF
Lot Size0.26 Acres
Price / SF$229.59
Days on Market187
Property Features for 220 RIDGECREST Loop
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
RMF-1
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bathroom 3, Bedroom 5, Bedroom 6, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 1
Window features
Blinds
Pets allowed
Yes
Interior features
Ceiling Fans(s)
Subdivision
MINNEOLA RIDGECREST SUB
Directions
220 Ridgecrest Loop Minneola Fl, 34715
Standard status
Active Under Contract
APN
07-22-26-0250-000-01100
Size
2,700 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
MINNEOLA RIDGECREST SUB LOT 11 PB 27 PG 41 ORB 4084 PG 1279
Tax Annual Amount
4759
Legal Description
MINNEOLA RIDGECREST SUB LOT 11 PB 27 PG 41 ORB 4084 PG 1279
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
ceiling fans
private backyard
laundry
Building Details
Year built
1987
Floors in Building
1
Building materials
Block, Brick, Stucco
Roof type
Shingle
Listing Agency:
RE/MAX PRIME PROPERTIES · RE/MAX International
(407) 347-4512
Listed By:
Steven Horner · License #3262014
(321) 226-8499
Added: Apr 1
Changed: Sep 28
Last Checked: Oct 4 at 12:06AM
MLS# O6395627
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.
Investment Insights
Based on property information with market context.
This 2,700-square-foot triplex contains three separate units, each configured with 2 bedrooms and 1 full bathroom. The units include tile flooring throughout, vaulted ceilings, ceiling fans, eat-in kitchen areas, food-preparation counters, updated bathroom vanities, and abundant natural light. Each unit also has its own backyard area and laundry space. Newer HVAC systems and water heaters serve the units, while updated front windows and new patio sliding doors add to the improvements. The property has an extra-long driveway with multiple parking spaces and no HOA.
The 0.26-acre property is zoned RMF-1 and served by public water and septic systems. Each unit has separate water and electric meters, and the property includes two septic systems. A full roof replacement is scheduled for August 2025, and the septic systems were pumped in March 2026. The property is minutes from Colonial and 27, approximately 10 minutes from the Florida Turnpike, 5 minutes from Publix, and 8 minutes from South Lake Hospital.
The 0.26-acre property is zoned RMF-1 and served by public water and septic systems. Each unit has separate water and electric meters, and the property includes two septic systems. A full roof replacement is scheduled for August 2025, and the septic systems were pumped in March 2026. The property is minutes from Colonial and 27, approximately 10 minutes from the Florida Turnpike, 5 minutes from Publix, and 8 minutes from South Lake Hospital.
Key Highlights
- Three separate units, each with 2 bedrooms and 1 full bathroom
- 2,700 square feet on 0.26 acres
- Private backyard areas and laundry space for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$36,011
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.81%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$720,220
$720.2K
Cap Rate 7%
$514,443
$514.4K
Cap Rate 9%
$400,122
$400.1K
Market Conditions
NOI Build-Up for 2,700 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$55.1K $20.40/SF
− Vacancy
−$3.6K −$1.35/SF
EGI
$51.4K $19.05/SF
− OpEx
−$15.4K −$5.72/SF
NOI
$36.0K $13.34/SF
Area
Lake County, FL
Vacancy
6.60%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$720,220
Cap Rate 7%
$514,443
Cap Rate 9%
$400,122
Alternative Uses
Best Use
Multifamily LT 5
$514.4K
$450.1K – $600.2K
NOI $36,011 @ 7.0% cap · market cap 5.81%
Second Best
Apartment 5plus
$473.7K
$414.5K – $552.6K
NOI $33,157 @ 7.0% cap · market cap 5.35%
Theoretical Best
Office A
$768.3K
$672.3K – $896.4K
NOI $53,784 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
Explore this area
Business Placement
Demographics for 34715, FL
22,763
Population
8,877
Households
2.6
Avg Household Size
40
Median Age
27%
College-Educated
89%
High-School Grad
31.5 sq mi
ZIP Area
723
Density / Sq Mi
$97,644
Median Household Income
$46,750
Median Earnings
$2,067
Median Rent
$407,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three two-bedroom units offer private outdoor areas, dedicated laundry, and separate utility metering.
Where is this triplex located?
The property is located at 220 RIDGECREST Loop Minneola, FL.
What is the asking price?
The asking price for this property is $619,900.
What are key features of this property?
This property features: Three separate units, each with 2 bedrooms and 1 full bathroom; 2,700 square feet on 0.26 acres; Private backyard areas and laundry space for each unit
