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    Lakefront Homesite Land Parcel Title is generated by Realmo AI

    15620 ESPALIER WAY, Winter Garden, FL 34787

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    Claim this Listing
    New
    For Sale
    $879,000

    Land - WINTER GARDEN, FL

    Lot size:
    1.70 Acres
    Added:
    Jun 3, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 4 at 2:06 pm

    Property Features for 15620 ESPALIER WAY

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    P-D
    Pets allowed
    Cats OK, Dogs OK
    Standard status
    Active
    APN
    21-23-27-8132-11-440
    Lot size
    1.70 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    8814
    Expense value
    195
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Monthly

    Utilities

    Water front features
    Lake Front, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Shelley Dawson
    Shelley Dawson

    Listing agent Shelley Dawson License #3308982

    Listing office COMPASS FLORIDA LLC 851 W Morse Blvd, FL, FL

    Listing date Jun 3, 2026

    MLS# O6413631 Listing URL

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

    HighLights

    • Vacant lakefront homesite on Lake Hancock in the Independence community
    • Lakefront with waterfront and lake views, including panoramic water views
    • Private, navigable lake setting for lake lifestyle activities like boating and paddleboarding
    • Opportunity to build a private dock for a custom waterfront setup
    • Located just minutes from Hamlin’s shopping, dining, and entertainment

    Overview

    This offering is a vacant land parcel positioned for residential development. The site is described as a luxury lakefront homesite with panoramic water views on Lake Hancock, intended for buyers looking to build a custom estate. The seller’s remarks note the opportunity to design a private dock for lake access, supporting indoor-outdoor living that centers on the waterfront setting. The property is presented as part of the Independence community.

    The parcel is located in Winter Garden, Florida, within Orange County, with access to nearby shopping, dining, and entertainment described as being just minutes away at Hamlin. The surrounding area is characterized in the remarks as being among larger multi-million dollar residences, indicating a high-end residential environment. The lake is described as private and navigable in the listing materials.

    For prospective buyers, this is a straightforward land opportunity to plan and build a single custom residence on a waterfront lot with significant views. The stated ability to include a private dock may be an important consideration for users planning boating or similar lake activities. As with any waterfront build, buyers should conduct due diligence on dock design and site-specific permitting requirements to align their plans with the property’s conditions and the community framework.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Winter Garden
    County
    Orange
    State
    Florida
    Longitude
    -81.614681
    Latitude
    28.46668

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    FAQs

    What type of property is this?
    Waterfront Land - Vacant lakefront lot in a residential community, sized for building a custom estate with water views.
    Where is this waterfront land located?
    The property is located at 15620 ESPALIER WAY Winter Garden, FL.
    What is the asking price?
    The asking price for this property is $879,000.
    What are key features of this property?
    This property features: Vacant lakefront homesite on Lake Hancock in the Independence community; Lakefront with waterfront and lake views, including panoramic water views; Private, navigable lake setting for lake lifestyle activities like boating and paddleboarding
    (407) 492-1900
    We can help!
    Listing Contact
    Shelley Dawson
    Shelley Dawson
    Real Estate License ID: 3308982
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    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.

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