Sign Up Successful!
You now have access to more from Realmo!
    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

    28034 Us Highway 27 Leesburg, FL 34748

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $599,900

    4.65 acres of uplands entitled for assisted living.

    Lot size:
    7.88 Acres

    Property Features for 28034 Us Highway 27

    General Information

    Lot size
    7.88 Acres

    We can help!

    Listing Contact
    Jeffrey Carlino
    Source: Elliman

    Listing Agent: Jeffrey Carlino

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Land Suitable for Assisted Living

    This property, located off S. Hwy 27 in Leesburg, has been annexed and rezoned to PUD for assisted living within the City of Leesburg. The site offers city utilities and comprises approximately 4.65 acres of uplands. The property is entitled to 18.6 residential units, each permitting 6 beds, for a total of approximately 111 beds.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Realty agency Restaurant Spa & Massage Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Pharmacy Wholesale Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Leesburg
    County
    Lake
    State
    Florida
    Longitude
    -81.879927
    Latitude
    28.761139

    Nearby Similar for Sale

    • New
      $1,295,000
      Pending

      Private Island Multi-Family Investment

      Unique island property with diverse income opportunities on Haines Creek.
      11325 Ocklawaha Dr, Leesburg, FL 34788
      View Details
    • $356,000
      1,242 SF

      Leesburg Commercial Building on US-441

      Partially renovated 1,242 SF building on high-traffic corridor.
      1821 Us Highway 441, Leesburg, FL 34748
      View Details
    • $6,500,000
      Pending

      Leesburg Multifamily Investment Opportunity

      48-unit apartment complex near downtown Leesburg, fully leased by college.
      600 W Oak Terrace Dr, Leesburg, FL 34748
      View Details
    • $950,000
      22.50 Acres

      Equestrian Estate on 22.5 Acres

      22.5 acre Leesburg estate ideal for horse enthusiasts or investors.
      41204 Emeralda Island Rd, Leesburg, FL 34788
      View Details
    • $2,500,000
      Pending

      Leesburg Mobile Home/RV Park

      41-unit mobile home and RV park in Leesburg, Florida.
      28313 Us Highway 27, Leesburg, FL 34748
      View Details
    • $599,000
      2,968 SF

      Downtown Leesburg Professional Office Building

      Well-maintained office building in downtown Leesburg with tenant in place.
      1029 W Magnolia St, Leesburg, FL 34748
      View Details
    • $449,900
      3,382 SF

      Income-Generating Leesburg Multifamily Property

      Fully occupied 6-unit multifamily property near downtown Leesburg.
      1120 Webster St, Leesburg, FL 34748
      View Details
    • $485,000
      2,622 SF

      New Leesburg Duplex Under Construction

      New construction duplex near schools, designed for long-term renters.
      2108 South St, Leesburg, FL 34748
      View Details
    • New
      $500,000
      4,356 SF

      Leesburg Quadruplex Investment Opportunity

      Income-producing quadruplex near Beacon College, UF Hospital, and historic downtown.
      643 W Oak Terrace Dr, Leesburg, FL 34748
      View Details
    • $595,000
      Pending

      Leesburg Multifamily Investment Opportunity

      55+ mobile home community with 12 lots for sale.
      10212 County Road 44, Leesburg, FL 34788
      View Details
    • $450,000
      1,454 SF

      Leesburg Triplex Investment Opportunity

      Fully rented triplex in Leesburg, Florida, with immediate rental income.
      1611 Indian Trl, Leesburg, FL 34748
      View Details
    • $595,000
      Pending

      Leesburg Multifamily Investment Opportunity

      55+ mobile home community with 12 lots for passive income.
      10212 County Road 44, Leesburg, FL 34788
      View Details

    FAQs

    What type of property is this?
    Land - 4.65 acres of uplands entitled for assisted living.
    Where is this land located?
    The property is located at 28034 Us Highway 27 Leesburg, FL.
    What is the asking price?
    The asking price for this property is $599,900.
    What are key features of this property?
    This property features: - Rezoned to PUD for assisted living in the City of Leesburg.; - Entitled for approximately 111 beds (18.6 residential units permitting 6 beds each).; - Approximately 4.65 acres of uplands.
    (352) 406-2149
    Request Owner's contact information
    28034 Us Highway 27 Leesburg, FL 34748
    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.
    28034 Us Highway 27
    Leesburg, FL 34748
    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
    28034 Us Highway 27 Leesburg, FL 34748
    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
    Jeffrey Carlino
    Real Estate License ID: 3219854
    (352) 406-2149
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.