15551 W Colonial Dr, Oakland, FL 34787

Building Details

Building Size 32,117 SF More

Year Built 2025 More

Units 72 More

Listing Agency: Saunders Real Estate

Listed By: Clay Taylor, ALC · License FL #3189841 Show Phone

Source: Commercialcafe

Added: Mar 27 Changed: Nov 7 Last Checked: Nov 10 at 5:21AM

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Investment Insights

Based on property information with market context.

This shovel-ready mixed-use development site is located in a high-traffic commercial corridor connecting Lake and Orange County, Florida. The project is planned to include two 3-story buildings totaling over 32,000 square feet of commercial space and 72 apartment units. A pedestrian and golf cart path will connect the project to The Grove neighborhood.

Key Highlights

• Shovel‑ready mixed‑use development site
• High‑traffic commercial corridor location connecting Lake and Orange County, Florida
• Boasts over 32,000 SF of commercial space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$441,600

Cap Rate

9.01%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$8,832,000 $8.8M

Cap Rate 7%

$6,308,571 $6.3M

Cap Rate 9%

$4,906,667 $4.9M

Is this asking price fair?

Market Conditions

NOI Build-Up for 32,000 SF

Gross rent

$768.0K $24.00/SF

− Vacancy

−$61.4K −$1.92/SF

EGI

$706.6K $22.08/SF

− OpEx

−$265.0K −$8.28/SF

NOI

$441.6K $13.80/SF

Area

Orange County, FL

Vacancy

8.00%

Lease Rate

$24.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$8,832,000

Cap Rate 7%

$6,308,571

Cap Rate 9%

$4,906,667

Alternative Uses

Best Use

Mixed Use

$6.31M

$5.52M – $7.36M (±1% cap)

NOI $441,600 @ 7.0% cap · market cap 9.01%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$9.62M

$8.42M – $11.22M (±1% cap)

NOI $673,263 @ 7.0% cap · market cap 13.74%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Commercial land

Suggested Use

Top Pick Restaurant Law Firm Dental Office Real Estate Agency Big Box & Wholesale Store Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

363

Businesses Nearby

Explore this area Business Placement

Demographics for 34787, FL

88,636

Population

33,141

Households

2.7

Avg Household Size

36

Median Age

49%

College-Educated

94%

High-School Grad

67.3 sq mi

ZIP Area

1,317

Density / Sq Mi

$114,988

Median Household Income

$53,995

Median Earnings

$1,994

Median Rent

$475,000

Median Home Value

Market

Properties on Market for Commercial land in Orange County

Jul

Aug

Sep

Oct

Frequently Asked Questions

What type of property is this?

Commercial land - Shovel-ready mixed-use development site in high-traffic commercial corridor.

Where is this commercial land located?

The property is located at 15551 W Colonial Dr Oakland, FL.

What is the asking price?

The asking price for this property is $4,900,000.

What are key features of this property?

This property features: Shovel‑ready mixed‑use development site; High‑traffic commercial corridor location connecting Lake and Orange County, Florida; Boasts over 32,000 SF of commercial space