Mixed-Use Development Site For
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15551 W Colonial Dr, Oakland, FL 34787
Shovel-ready mixed-use development site in high-traffic commercial corridor.
Property Size32,000 SF
Price / SF$153.13
Days on Market267
Property Features for 15551 W Colonial Dr
General Information
Standard status
Active
Size
32,000 SF
Property subtype
Land, Multifamily, Retail
Zoning
PD
Listing Agency:
Saunders Real Estate
(863) 272-7156
Listed By:
Clayton Taylor · License #SL3613472
Source:
Crexi
Added: Nov 19, 2025
Changed: Aug 8
Last Checked: Aug 12 at 8:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Saunders Real Estate
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$422,400
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.62%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$8,448,000
$8.4M
Cap Rate 7%
$6,034,286
$6.0M
Cap Rate 9%
$4,693,333
$4.7M
Market Conditions
NOI Build-Up for 32,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$768.0K $24.00/SF
− Vacancy
−$92.2K −$2.88/SF
EGI
$675.8K $21.12/SF
− OpEx
−$253.4K −$7.92/SF
NOI
$422.4K $13.20/SF
Area
Orange County, FL
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$8,448,000
Cap Rate 7%
$6,034,286
Cap Rate 9%
$4,693,333
Alternative Uses
Best Use
Retail
$8.98M
$7.85M – $10.47M
NOI $628,379 @ 7.0% cap · market cap 12.82%
Second Best
Mixed Use
$6.03M
$5.28M – $7.04M
NOI $422,400 @ 7.0% cap · market cap 8.62%
Theoretical Best
Office A
$9.11M
$7.97M – $10.62M
NOI $637,440 @ 7.0% cap · market cap 13.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
330
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
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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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
