Umatilla Investment Opportunity For
37415 STATE ROAD 19, Umatilla, FL 32784
For Sale
$899,000
Two buildings, almost fully leased, on 1.17 acres.
Property Size4,721 SF
Lot Size1.10 Acres
Price / SF$190.43
Days on Market387
Property Features for 37415 STATE ROAD 19
General Information
Standard status
Size
Lot size
Property subtype
Building Details
Year Built
Listing Agency:
GRIZZARD COMMERCIAL REALESTATE
(352) 787-6966
Listed By:
DANIEL TATRO · License #3190991
(352) 396-9136
Source:
Corcoran
Added: Oct 16, 2025
Changed: Jul 6
Last Checked: Nov 6 at 9:15AM
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 GRIZZARD COMMERCIAL REALESTATE
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Investment Insights
Based on property information with market context.
This property presents an investment and income opportunity, featuring two buildings that are almost 100% leased. It includes a recently remodeled 7-unit apartment complex, with each unit containing 1 bedroom and 1 bathroom. Additionally, there is a commercial building with a 1,920 square foot pole barn or covered carport area. The property is located fronting State Road 19 in Umatilla, Florida, a growing area within Lake County. Situated on approximately 1.17 acres, the property is currently zoned C-2/R-6. The total property size is 4,721 square feet.
Key Highlights
- Almost 100% Leased: Provides immediate income stream.
- Two Buildings: Includes a 7‑unit apartment complex and a commercial building.
- Recently Remodeled Apartment Complex: Offers modern living spaces and potentially lower maintenance costs.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,975
Cap Rate
6.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,159,500
$1.2M
Cap Rate 7%
$828,214
$828.2K
Cap Rate 9%
$644,167
$644.2K
Market Conditions
NOI Build-Up for 4,721 SF
Gross rent
$112.7K $23.88/SF
− Vacancy
−$7.3K −$1.55/SF
EGI
$105.4K $22.33/SF
− OpEx
−$47.4K −$10.05/SF
NOI
$58.0K $12.28/SF
Area
Lake County, FL
Vacancy
6.50%
Lease Rate
$23.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,159,500
Cap Rate 7%
$828,214
Cap Rate 9%
$644,167
Alternative Uses
Best Use
Apartment 5plus
$828.2K
$724.7K – $966.3K
NOI $57,975 @ 7.0% cap · market cap 6.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.34M
$1.18M – $1.57M
NOI $94,042 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
80
Businesses Nearby
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Business Placement
Demographics for 32784, FL
11,212
Population
4,971
Households
2.3
Avg Household Size
45
Median Age
12%
College-Educated
88%
High-School Grad
92.8 sq mi
ZIP Area
121
Density / Sq Mi
$69,633
Median Household Income
$40,247
Median Earnings
$1,082
Median Rent
$237,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 - Two buildings, almost fully leased, on 1.17 acres.
Where is this apartment building located?
The property is located at 37415 STATE ROAD 19 Umatilla, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Almost 100% Leased: Provides immediate income stream.; Two Buildings: Includes a 7‑unit apartment complex and a commercial building.; Recently Remodeled Apartment Complex: Offers modern living spaces and potentially lower maintenance costs.
