Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Half Acre Vacant Land Title is generated by Realmo AI

    Palm Avenue, Indian Lake Estates, FL 33855

    View on Map
    Claim this Listing
    Picture of Residential land & home lots at Palm Avenue, Indian Lake Estates, FL
    For Sale
    Under Contract
    Contact for pricing

    LAND - Indian Lake Estates, FL

    Lot size:
    0.50 Acres
    Added:
    Feb 4, 2026
    Days on Market:
    119
    Last Refresh:
    Jun 3 at 4:06 am

    Property Features for Palm Avenue

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    res
    Standard status
    Active Under Contract
    APN
    073130994050019405
    Lot size
    0.50 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    INDIAN LAKE ESTS UNIT 5 SEC 7 31 30 PB 39 PG 31 BLK 194 LOT 5
    Tax Annual Amount
    106

    We can help!

    Listing Contact
    James T Madalone

    Listing agent James T Madalone License #3409534

    Listing office Compass Florida LLC 5370 Donald Ross Road, Miami Beach, FL

    Listing date Feb 4, 2026

    MLS# R11161005 Listing URL

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

    HighLights

    • Half‑acre vacant lot in Indian Lake Estates, ideal for building a custom home with outdoor living space and storage.
    • Access to Lake Walk‑in‑Water, Florida's largest freshwater fishing pier, for fishing and boating.
    • Low HOA fees include access to golf, tennis, clubhouse, fitness center, marina boat slips, and more.
    • Located in a peaceful community offering nature, privacy, and a relaxed country lifestyle.
    • Opportunity to create an ideal retreat with easy access to nearby towns.
    • Motivated seller; property appraised at $11,000.

    Overview

    This half-acre vacant lot in Indian Lake Estates, Florida, offers an opportunity to build a custom residence with outdoor living space and storage for boats or recreational equipment. Located in a peaceful community, the property provides access to golf, fishing, boating, and clubhouse amenities. Residents can enjoy Florida's largest freshwater fishing pier on Lake Walk-in-Water, surrounded by scenery and open skies. The low HOA includes basketball, clubhouse, fitness center, golf and tennis courses, a gated entrance, marina boat slips, a pier, and a library. The property is located in BLK 194 LOT 5. The parcel ID is 073130994050019405.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Indian Lake Estates
    County
    Polk
    State
    Florida
    Longitude
    -81.361865
    Latitude
    27.799234

    Nearby Similar for Sale

    • $225,000
      1,940 SF

      Unique Duplex on Large Lot

      Duplex on 2.5 acres, formerly a church, with rental potential.
      52 DELAND AVENUE, INDIAN LAKE ESTATES, FL 33855
      View Details
    • $105,000

      Cleared Canal Lot Ready to Build

      Cleared canal lot in Indian Lake Estates ready for construction.
      9 AVOCADO DRIVE, INDIAN LAKE ESTATES, FL 33855
      View Details
    • $185,000

      Acre Canal-Front Land Parcel

      One-acre land parcel with canal frontage in Indian Lake Estates.
      28 And 30 AMARYLLIS DRIVE, INDIAN LAKE ESTATES, FL 33855
      View Details
    • $130,000

      Waterfront Lot on Lake Weohyakapka

      Half-acre lot with direct access to a renowned fishing lake.
      2 AMARYLLIS DRIVE, INDIAN LAKE ESTATES, FL 33855
      View Details
    • $14,900

      Half Acre Vacant Lot

      Vacant lot in gated community with many amenities.
      1020 ALTHEA DRIVE, INDIAN LAKE ESTATES, FL 33855
      View Details
    • $23,000

      Acre Land in Gated Community

      Two side-by-side lots in Indian Lake Estates, Florida.
      915 LAGUNA DR, INDIAN LAKE ESTATES, FL 33855
      View Details
    • $19,999

      Corner Lot in Gated Community

      0.60-acre corner lot in Indian Lake Estates, Florida.
      402 LAGUNA DRIVE, INDIAN LAKE ESTATES, FL 33855
      View Details
    • $18,500

      Residential Lot in Indian Lake

      Spacious 0.5-acre lot in Central Florida's Indian Lake Estates.
      219 Magnolia Drive, Indian Lake Estates, FL 33855
      View Details
    • $19,999

      Corner Lot in Gated Community

      0.60-acre corner lot in Indian Lake Estates, Florida.
      402 LAGUNA Drive, Indian Lake Estates, FL 33855
      View Details
    • $21,900

      Cleared Lot with Water Connection

      Half-acre lot in waterfront golf community, no septic needed.
      513 PALM AVENUE, INDIAN LAKE ESTATES, FL 33855
      View Details
    • $19,900

      Half-Acre Lot in Lake Community

      Spacious lot in Central Florida's lakefront community, ideal for building.
      6 EL DORADO DRIVE, INDIAN LAKE ESTATES, FL 33855
      View Details
    • $28,000

      Oversized Corner Lot in Lake Community

      0.55 acre buildable lot with lake access and amenities.
      3250 PLUMOSA DRIVE, INDIAN LAKE ESTATES, FL 33855
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Vacant half-acre lot in Indian Lake Estates, Florida.
    Where is this residential land & home lot located?
    The property is located at Palm Avenue Indian Lake Estates, 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: Half‑acre vacant lot in Indian Lake Estates, **ideal for building a custom home with outdoor living space and storage.**; **Access to Lake Walk‑in‑Water, Florida's largest freshwater fishing pier, for fishing and boating.**; Low HOA fees include access to golf, tennis, clubhouse, fitness center, marina boat slips, and more.
    (561) 373-5114
    We can help!
    Listing Contact
    James T Madalone
    Real Estate License ID: 3409534
    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

    Thank You for Inquiry
    Palm Avenue, Indian Lake Estates, FL 33855
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!