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

    978 Archie Summers Road Lake Placid, FL 33852

    View on Map
    For Sale
    Contact for pricing

    LAND - Lake Placid, FL

    Lot size:
    0.24 Acres
    Added:
    Nov 20, 2025
    Days on Market:
    132
    Last Refresh:
    Apr 1 at 11:06 am

    Property Features for 978 Archie Summers Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    C-14-37-29-160-1740-0100
    Lot size
    0.24 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxDescription
    PLACID LAKES SEC 16 PB 8 PG 18 LOT 10 BLK 174
    TaxAnnualAmount
    193

    We can help!

    Listing Contact
    Billee Silva
    Billee Silva

    Listing agent Billee Silva License #258023439

    Listing office Century 21 AllPoints Realty 1342 COLONIAL BLVD SUITE H59, Naples, FL

    Listing date Nov 20, 2025

    MLS# 2025021504

    Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Residential Land in Lake Placid

    This 0.23-acre lot presents an opportunity to build a home on a paved road, located outside any flood zone. Situated a short drive from the center of Lake Placid, the location provides access to shops, dining, and a small-town atmosphere. Lake August is nearby, offering opportunities for fishing and boating. This location is suitable for immediate construction or future development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Big Box & Wholesale Store Department Store Kitchen & Bath Showroom Storage Facility Garden Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Placid
    County
    Highlands
    State
    Florida
    Longitude
    -81.4185349
    Latitude
    27.2778493

    Nearby Similar for Sale

    • $875,000
      3,181 SF

      Lake Placid Commercial Investment Opportunity

      Spacious building on 1.68 acres with income potential.
      405 W INTERLAKE Boulevard, Lake Placid, FL 33852
      View Details
    • $27,900

      Spacious Corner Lot in Lake Placid

      Over half-acre corner lot, ideal for building a dream home.
      143 PATTON AVENUE, LAKE PLACID, FL 33852
      View Details
    • $25,000

      Cleared Homesite in Sun 'N Lakes

      0.25-acre lot ready to build in Lake Placid, FL.
      539 S Sun N Lakes Boulevard, Lake Placid, FL 33852
      View Details
    • $799,900
      3,919 SF

      Lake Placid Multi-Unit Home

      Spacious, furnished 6-bedroom home/duplex with lake views and rental potential.
      3389 Placid View Dr, Lake Placid, FL 33852
      View Details
    • $15,999

      Residential Lot in Lake Placid

      Oversized residential lot near lakes, shopping, and dining.
      3044 AZALEA LANE, LAKE PLACID, FL 33852
      View Details
    • $19,900

      Residential Land in Lake Placid

      Vacant lot in the heart of Florida's 'Town of Murals'.
      1632 WASHINGTON BOULEVARD NE, LAKE PLACID, FL 33852
      View Details
    • $8,500

      Commercial Land in Lake Placid

      Commercial land suitable for various retail and service businesses.
      961 COUNTY ROAD 29, LAKE PLACID, FL 33852
      View Details
    • $20,000

      Residential Lot in Lake Placid

      Residential building lot suitable for single-family or mobile home.
      401 Fawnwood Avenue, Lake Placid, FL 33852
      View Details
    • $15,000

      Residential Lots in Lake Placid

      Two adjacent residential lots in a peaceful Lake Placid area.
      3341 & 3343 PHEASANT AVENUE, LAKE PLACID, FL 33852
      View Details
    • $65,000

      Residential Land in Lake Placid

      Homesite in Sun 'N Lakes area, near freshwater destinations.
      433 GLORIA BOULEVARD, LAKE PLACID, FL 33852
      View Details
    • $14,900

      Vacant Lot in Lake Placid

      Vacant lot in the heart of Florida's 'Town of Murals'.
      3262 PLOVER AVENUE, LAKE PLACID, FL 33852
      View Details
    • $7,500

      Residential Lot in Lake Placid

      Residential lot in a peaceful area, ideal for investment.
      3341 PHEASANT AVENUE, LAKE PLACID, FL 33852
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 0.23-acre lot for dream home near Lake August.
    Where is this residential land & home lot located?
    The property is located at 978 Archie Summers Road Lake Placid, 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: .23‑acre lot ideal for building a custom home.; Located outside any flood zone, ensuring safety and peace of mind.; Close proximity to Lake Placid's shops, dining, and small‑town atmosphere.
    (239) 247-2490
    We can help!
    Listing Contact
    Billee Silva
    Billee Silva
    Real Estate License ID: 258023439
    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!