Lakefront Resort with Expansion
33737 SHADY ACRES ROAD, Leesburg, FL 34788
For Sale
New
$1,799,000
An operating hospitality property combines guest bungalows, boating facilities, and an approved path to add lodging units.
Property Size6,415 SF
Lot Size2.79 Acres
Price / SF$280.44
Days on Market4
Property Features for 33737 SHADY ACRES ROAD
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Business Included
Mixed-Use Components
Currently Operating
Amenities
boat ramp/launch
boat slips/moorings
waterfront dock
retail store
live bait shop
Building Details
Year Built
Listing Agency:
ROCK SPRINGS REALTY, LLC
(877) 333-2811
Listed By:
Joel Bornstein · License #3211229
(407) 252-8092
Source:
Dennisrealty
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 5:16AM
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 ROCK SPRINGS REALTY, LLC
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Investment Insights
Based on property information with market context.
Set on 2.79 acres along Lake Griffin, this operating resort includes an owner’s residence, four rental bungalows, a boat launch, dock, boat slips and moorings, and boat, trailer, and vehicle storage. Additional improvements include a retail building, live bait shop, pump house, and a 24' x 60' steel building. The property has been renovated and updated, with established lodging and boating operations.
More than 600 feet of shoreline provides access to Lake Griffin and the Harris Chain of Lakes. An approved Conditional Use Permit allows construction of six additional rental bungalows, which would bring the total to ten. Existing boating facilities include 15 covered and uncovered slips and moorings.
The retail building could be adapted for guest lodging or boater-oriented retail, while the steel building may support marine repair or storage uses, subject to approved permitting. The bungalows can be operated as short-term rentals, furnished monthly rentals, annual leases, or a combination.
More than 600 feet of shoreline provides access to Lake Griffin and the Harris Chain of Lakes. An approved Conditional Use Permit allows construction of six additional rental bungalows, which would bring the total to ten. Existing boating facilities include 15 covered and uncovered slips and moorings.
The retail building could be adapted for guest lodging or boater-oriented retail, while the steel building may support marine repair or storage uses, subject to approved permitting. The bungalows can be operated as short-term rentals, furnished monthly rentals, annual leases, or a combination.
Key Highlights
- 2.79‑acre resort property on Lake Griffin
- More than 600' of shoreline with access to the Harris Chain of Lakes
- Four rental bungalows; approved Conditional Use Permit for 6 additional units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,082
Cap Rate
3.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,341,640
$1.3M
Cap Rate 7%
$958,314
$958.3K
Cap Rate 9%
$745,356
$745.4K
Market Conditions
NOI Build-Up for 6,415 SF
Gross rent
$130.9K $20.40/SF
− Vacancy
−$8.9K −$1.39/SF
EGI
$122.0K $19.01/SF
− OpEx
−$54.9K −$8.56/SF
NOI
$67.1K $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%
$1,341,640
Cap Rate 7%
$958,314
Cap Rate 9%
$745,356
Alternative Uses
Best Use
Apartment 5plus
$958.3K
$838.5K – $1.12M
NOI $67,082 @ 7.0% cap · market cap 3.73%
Second Best
Hotel Hospitality
$744.4K
$651.3K – $868.4K
NOI $52,106 @ 7.0% cap · market cap 2.90%
Theoretical Best
Office A
$2.07M
$1.81M – $2.41M
NOI $144,799 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
95
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Resort - An operating hospitality property combines guest bungalows, boating facilities, and an approved path to add lodging units.
Where is this resort located?
The property is located at 33737 SHADY ACRES ROAD Leesburg, FL.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: 2.79‑acre resort property on Lake Griffin; More than 600' of shoreline with access to the Harris Chain of Lakes; Four rental bungalows; approved Conditional Use Permit for 6 additional units
