Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3117 Bright Lake Cir Groveland, FL 34736

    Sponsored
    For Sale
    Pending
    $199,900

    Land - GROVELAND, FL

    Lot size:
    5.24 Acres
    Days on Market:
    26
    Last Refresh:
    Feb 25 at 3:06 pm

    Property Features for 3117 Bright Lake Cir

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    Security features
    Gated Community
    APN
    27-20-24-0105-000-06300
    Pets allowed
    Yes
    Exterior features
    Paved
    Fencing
    Gate
    Lot size
    5.24 Acres

    Taxes and HOA fees

    Expense value
    83.330001831055
    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
    Lisa Pownall
    Lisa Pownall

    Lisa Realty Partners (407) 500-5472

    Listing agent Lisa Pownall (407) 500-5472 License #0613161

    Listing date Jan 31, 2026

    MLS# G5095650 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

    Waterfront Lot in Gated Community

    This 5.24-acre wooded lot, located in the gated Clearwater Reserve community, offers privacy and space. The property includes 2.09 acres of high and dry buildable land with no rear neighbors. It provides a canvas for building a custom dream home, with no required timeframe to build and the freedom to bring your own builder. Clearwater Reserve features private paved roads, underground utilities, and newly installed fiber-optic internet. Community amenities include tennis courts, pickleball, a fishing dock, and expansive open green spaces. The property is located 15 minutes from Florida Turnpike entrances and near U.S. Highway 27, providing access to Central Florida destinations.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Groveland
    County
    Lake
    State
    Florida
    Longitude
    -81.900457
    Latitude
    28.7168

    Nearby Similar for Sale

    • $985,000
      1,419 SF

      Turn-Key Restaurant on Highway 50

      Profitable restaurant with drive-through, dine-in, and buffet options.
      299 E Broad St, Groveland, FL 34736
      View Details
    • $690,000
      2,872 SF

      Historic Groveland Office/Retail Opportunity

      Two-story historic building suitable for office or retail use.
      1218 W Broad St, Groveland, FL 34736
      View Details
    • $299,900
      5.38 Acres

      Equestrian Estate Waterfront Parcel

      5.38-acre waterfront parcel in gated Ranch Club community.
      Cutting Horse Way, Groveland, FL 34736
      View Details
    • $2,000,000

      Groveland Specialty Property For Sale

      Specialty property available for purchase in Groveland, Florida.
      12500 State Road 33, Groveland, FL 34736
      View Details
    • $1,000,000
      1,320 SF

      Groveland Restaurant - Hwy 50

      Busy Hwy 50 restaurant, great location.
      299 Broad St, Groveland, FL 34736
      View Details
    • $650,000

      Groveland, FL: 10-Acre Development Land

      Prime 10-acre lot near major shopping & Turnpike.
      24939 County Road 33, Groveland, FL 34736
      View Details

    FAQs

    What type of property is this?
    Land - 5+ acre waterfront lot in Groveland's Clearwater Reserve.
    Where is this land located?
    The property is located at 3117 Bright Lake Cir Groveland, FL.
    What is the asking price?
    The asking price for this property is $199,900.
    What are key features of this property?
    This property features: - **5.24-acre waterfront lot with 2.09 acres of high and dry buildable land.**; - Located in the gated Clearwater Reserve community, offering privacy and exclusivity.; - No required timeframe to build and the freedom to choose your own builder.
    (407) 927-1698
    Request Owner's contact information
    3117 Bright Lake Cir Groveland, FL 34736
    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.
    3117 Bright Lake Cir
    Groveland, FL 34736
    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
    3117 Bright Lake Cir Groveland, FL 34736
    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

    We can help!
    Listing Contact
    Lisa Pownall
    Lisa Pownall
    Real Estate License ID: 0613161
    (407) 927-1698 (407) 500-5472 (352) 242-0082
    Learn more
    Google sign-in failed. Please try again or use another login method.