Renovated Triplex With
For Sale
$435,000
2387 Sheridan Road, Mount Dora, FL 32757
Three-unit multifamily property with two renovated residences and a third unit undergoing improvements.
Property Size2,500 SF
Price / SF$174
Days on Market469
Property Features for 2387 Sheridan Road
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Amenities
7
3
1
Listing Agency:
For sale by owner, please contact
Listed By:
Fizber
Source:
Compass
Added: Jul 5, 2025
Changed: Oct 10
Last Checked: Oct 15 at 12:59AM
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 For sale by owner, please contact
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Investment Insights
Based on property information with market context.
Located at 2387 Sheridan Road in Mount Dora, this 2,500-square-foot triplex contains three residential units. Two units have been renovated, including one that is ready for occupancy and another leased to a long-term tenant with more than six months remaining on the current lease.
The third and largest residence is undergoing renovation, leaving work in progress for the next owner to complete. The property combines existing rental income with two distinct improvement conditions: one renovated unit ready for placement and one larger unit still being finished.
The third and largest residence is undergoing renovation, leaving work in progress for the next owner to complete. The property combines existing rental income with two distinct improvement conditions: one renovated unit ready for placement and one larger unit still being finished.
Key Highlights
- Three‑unit triplex totaling 2,500 square feet
- Two units have been renovated
- One renovated unit is rent‑ready
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,344
Cap Rate
7.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$666,880
$666.9K
Cap Rate 7%
$476,343
$476.3K
Cap Rate 9%
$370,489
$370.5K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$51.0K $20.40/SF
− Vacancy
−$3.4K −$1.35/SF
EGI
$47.6K $19.05/SF
− OpEx
−$14.3K −$5.72/SF
NOI
$33.3K $13.34/SF
Area
Lake County, FL
Vacancy
6.60%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$666,880
Cap Rate 7%
$476,343
Cap Rate 9%
$370,489
Alternative Uses
Best Use
Multifamily LT 5
$476.3K
$416.8K – $555.7K
NOI $33,344 @ 7.0% cap · market cap 7.67%
Second Best
Apartment 5plus
$438.6K
$383.8K – $511.7K
NOI $30,701 @ 7.0% cap · market cap 7.06%
Theoretical Best
Office A
$711.4K
$622.5K – $830.0K
NOI $49,800 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
317
Businesses Nearby
Explore this area
Business Placement
Demographics for 32757, FL
30,315
Population
14,625
Households
2.1
Avg Household Size
49
Median Age
36%
College-Educated
92%
High-School Grad
35.3 sq mi
ZIP Area
859
Density / Sq Mi
$73,327
Median Household Income
$40,565
Median Earnings
$1,474
Median Rent
$325,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit multifamily property with two renovated residences and a third unit undergoing improvements.
Where is this triplex located?
The property is located at 2387 Sheridan Road Mount Dora, FL.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Three‑unit triplex totaling 2,500 square feet; Two units have been renovated; One renovated unit is rent‑ready
