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

    716 Newell Hill Rd Leesburg, FL 34748

    Sponsored
    For Sale
    $535,000

    Land - LEESBURG, FL

    Lot size:
    0.74 Acres
    Days on Market:
    6
    Last Refresh:
    Feb 1 at 6:06 pm

    Property Features for 716 Newell Hill Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    24 19 24 1300 000 00501
    Pets allowed
    Yes
    Exterior features
    Dock
    Dock
    1
    Lot size
    0.74 Acres

    Taxes and HOA fees

    Expense value
    2.5
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Monthly

    Utilities

    Water front features
    Lake Front, Lake Privileges, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Judith Kilgus

    Carlino Real Estate Group, Inc. (352) 326-2662

    Listing agent Judith Kilgus (352) 326-2662 License #634777

    Listing date Jan 27, 2026

    MLS# G5106474 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 on Harris Chain

    This 0.74-acre buildable lot is located on the Harris Chain of Lakes and features 107 feet of lakefront with panoramic views across 7 miles of open water. It is one of the last two available lots directly on the lake within this gated community, which features custom-built homes. The property includes a complete set of architectural and engineering plans approved by the City of Leesburg. Deed restrictions are in place, and city water and sewer services are available. Mature oak trees are present on the lot. Majestic Oaks is a private, deed-restricted community in Central Florida, located minutes from the Hospital, UF Health at Leesburg, and downtown. Utilities are available. Lake Griffin spans over 9,327 acres and is the last lake in the Harris Chain. The nine lakes of the Harris Chain total approximately 76,000 acres. Water flows into Lake Griffin through Haines Creek and exits into the Ocklawaha River, flowing north through the Ocala National Forest to the St. Johns River and out to the Atlantic Ocean. The property is located an hour from Orlando or Ocala and minutes from The Villages. The dock requires repair on the existing posts. The property has been recently mowed.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Leesburg
    County
    Lake
    State
    Florida
    Longitude
    -81.85615
    Latitude
    28.821208

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    FAQs

    What type of property is this?
    Residential land & home lot - 0.74 acre lot with 107 feet of lakefront.
    Where is this residential land & home lot located?
    The property is located at 716 Newell Hill Rd Leesburg, FL.
    What is the asking price?
    The asking price for this property is $535,000.
    What are key features of this property?
    This property features: - Buildable 0.74 acre lakefront lot with **107 feet of frontage on the Harris Chain of Lakes, offering panoramic views**.; - Includes a complete set of Architectural & Engineering Plans approved by the City of Leesburg.; - Located in a gated community with million-dollar custom-built homes.
    (352) 326-2662
    Request Owner's contact information
    716 Newell Hill Rd Leesburg, FL 34748
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    Leesburg, FL 34748
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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
    716 Newell Hill Rd Leesburg, FL 34748
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    We can help!
    Listing Contact
    Judith Kilgus
    Real Estate License ID: 634777
    (352) 326-2662
    Learn more
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