Single-Story Apartment
33230 Ryan Drive, Leesburg, FL 34788
For Sale
Contact for pricing
Garden-style rental community with varied floor plans, patios, laundry facilities, and on-site management and maintenance.
Property Size40,320 SF
Lot Size6.57 Acres
Price / SF$193.95
Days on Market101
Property Features for 33230 Ryan Drive
General Information
Standard status
Size
Net Rentable
Class
Lot size
Property subtype
Occupancy
Investment Type
Net Operating Income
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Amenities
air conditioning
washer/dryer hookups
dishwashers
storage space
semi-private patios
laundry facilities
on-site management
on-site maintenance
Building Details
Year Built
Buildings
Stories
Units
Construction
Listing Agency:
Colliers - Tampa, Florida
Listed By:
Luis Baez · License FL BK3038581
(813) 221-2079
Source:
Crexi
Added: Aug 4
Changed: Nov 8
Last Checked: Nov 12 at 8:22AM
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 Colliers - Tampa, Florida
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 68-unit, single-story garden-style apartment community occupies 6.57 acres and contains approximately 40,320 rentable square feet. Built in 1985, the property includes 64 one-bedroom/one-bathroom units averaging 576 square feet, two two-bedroom/one-bathroom units averaging 864 square feet, and two two-bedroom/two-bathroom units averaging 864 square feet. Individual residences feature air conditioning, washer/dryer hookups, dishwashers, storage space, and semi-private patios. Community improvements include laundry facilities, on-site management, and on-site maintenance.
The property is located in Leesburg, Florida, within Lake County’s Silver Lake area, with access to U.S. Highway 441. The surrounding area includes retail, restaurants, healthcare facilities, schools, parks, lakes, and regional employment centers. Leesburg is part of the Orlando-Kissimmee-Sanford MSA and is near The Villages and major Lake County employers across healthcare, education, retail, logistics, construction, hospitality, and service industries.
The property is located in Leesburg, Florida, within Lake County’s Silver Lake area, with access to U.S. Highway 441. The surrounding area includes retail, restaurants, healthcare facilities, schools, parks, lakes, and regional employment centers. Leesburg is part of the Orlando-Kissimmee-Sanford MSA and is near The Villages and major Lake County employers across healthcare, education, retail, logistics, construction, hospitality, and service industries.
Key Highlights
- 68‑unit apartment community on 6.57 acres
- Approximately 40,320 rentable square feet; constructed in 1985
- Unit mix includes 64 one‑bedroom/one‑bathroom units and 4 two‑bedroom units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$421,628
Cap Rate
5.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,432,560
$8.4M
Cap Rate 7%
$6,023,257
$6.0M
Cap Rate 9%
$4,684,756
$4.7M
Market Conditions
NOI Build-Up for 40,320 SF
Gross rent
$822.5K $20.40/SF
− Vacancy
−$55.9K −$1.39/SF
EGI
$766.6K $19.01/SF
− OpEx
−$345.0K −$8.56/SF
NOI
$421.6K $10.46/SF
Area
Lake County, FL
Vacancy
6.80%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,432,560
Cap Rate 7%
$6,023,257
Cap Rate 9%
$4,684,756
Alternative Uses
Best Use
Apartment 5plus
$6.02M
$5.27M – $7.03M
NOI $421,628 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.00M
$11.38M – $15.17M
NOI $910,103 @ 7.0% cap · market cap 11.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
68
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
222
Businesses Nearby
Explore this area
Business Placement
Demographics for 34788, FL
19,409
Population
11,294
Households
1.7
Avg Household Size
58
Median Age
20%
College-Educated
91%
High-School Grad
36.1 sq mi
ZIP Area
538
Density / Sq Mi
$57,477
Median Household Income
$35,879
Median Earnings
$1,384
Median Rent
$168,900
Median Home Value
Market
Average Price Trend$/SF for Apartment buildings in Lake County, FL
Properties on Market for Apartment buildings in Lake County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Garden-style rental community with varied floor plans, patios, laundry facilities, and on-site management and maintenance.
Where is this apartment building located?
The property is located at 33230 Ryan Drive Leesburg, FL.
What is the asking price?
The asking price for this property is $7,820,000.
What are key features of this property?
This property features: 68‑unit apartment community on 6.57 acres; Approximately 40,320 rentable square feet; constructed in 1985; Unit mix includes 64 one‑bedroom/one‑bathroom units and 4 two‑bedroom units
