Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Umatilla Investment Opportunity For Sale Title is generated by Realmo AI

    37415 STATE ROAD 19, Umatilla, FL 32784

    View on Map
    Claim this Listing
    For Sale
    $899,000

    Two buildings, almost fully leased, on 1.17 acres.

    Type:Commercial
    Property size:
    4,721 SF
    Lot size:
    1.10 Acres
    Price / SF:
    $190/SF
    Added:
    Oct 16, 2025
    Days on Market:
    233
    Last Refresh:
    Apr 5 at 9:06 pm

    Property Features for 37415 STATE ROAD 19

    General Information

    Standard status
    Active
    Size
    4,721 SF
    Lot size
    1.10 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1953

    We can help!

    Listing Contact
    DANIEL TATRO

    Listing agent DANIEL TATRO License #3190991

    Listing office GRIZZARD COMMERCIAL REALESTATE

    Listing date Oct 16, 2025

    Source Corcoran

    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

    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.
    • High Traffic Location: Commercial building fronts SR 19, offering excellent visibility.
    • Large Lot Size: Property sits on 1.17 +/- acres, providing ample space.
    • Flexible Zoning: Zoned C‑2/R‑6, allowing for various commercial and residential uses.

    Overview

    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.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $112.7k $23.88
    − Vacancy −$7.3k −$1.55
    EGI $105.4k $22.33
    − OpEx −$47.4k −$10.05
    NOI $58.0k $12.28
    4,721 SF · lease $23.88/SF/yr · vacancy 6.50% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $828.2K
    $724.7K – $966.3K (±1% cap)
    NOI $57,975 @ 7.0% cap · market cap 6.45%
    Second Best
    Retail
    $797.9K
    $698.2K – $930.9K (±1% cap)
    NOI $55,856 @ 7.0% cap · market cap 6.21%
    Theoretical Best
    Office A
    $1.34M
    $1.18M – $1.57M (±1% cap)
    NOI $94,042 @ 7.0% cap · market cap 10.46%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Restaurant Dental Office Hair Salon Building Supply Auto Repair Shop Gym & Fitness Center Hotel & Motel Kitchen & Bath Showroom Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Umatilla
    County
    Lake
    State
    Florida
    Longitude
    -81.6876
    Latitude
    28.8934

    Nearby Similar for Sale

    • $474,000
      3,921 SF

      Mixed-Use Property in Downtown Umatilla

      Versatile mixed-use property with residential and commercial components in Umatilla.
      61 N CENTRAL AVENUE, UMATILLA, FL 32784
      View Details
    • $415,000
      2,160 SF

      Turnkey Duplex with Income

      Income-producing duplex with lake views in Umatilla, Florida.
      260 S CENTRAL AVENUE, UMATILLA, FL 32784
      View Details
    • $372,500
      3,216 SF

      Versatile Mixed-Use Property in Umatilla

      Flexible commercial property with C-1 zoning and income potential.
      55 GUERRANT STREET, UMATILLA, FL 32784
      View Details
    • $598,000
      1,961 SF

      Lakefront Mixed-Use Property in Umatilla

      Historic lakefront property suitable for residential and professional use.
      243 S CENTRAL AVENUE, UMATILLA, FL 32784
      View Details
    • $610,000

      Lakefront Professional/Residential Property in Umatilla

      Unique lakefront property suitable for residential or professional use.
      243 S CENTRAL Ave, Umatilla, FL 32784
      View Details
    • $365,000
      2,360 SF

      High-Visibility Mixed-Use Opportunity

      Flexible mixed-use property with income potential on a main road.
      311 S CENTRAL AVENUE, UMATILLA, FL 32784
      View Details
    • $375,000
      1,550 SF

      Equestrian Property on Ocala Trails

      6-acre horse property with direct access to Ocala trails.
      29175 SE HIGHWAY 42, UMATILLA, FL 32784
      View Details
    • $3,750,000
      2,997 SF

      Waterfront Ranch and Home Opportunity

      240-acre Lake County ranch with home, lakes, and pasture.
      13800 COUNTY ROAD 450, Umatilla, FL 32784
      View Details
    • $598,000
      1,961 SF

      Downtown Umatilla Retail Opportunity

      Retail property located on Central Avenue in downtown Umatilla.
      243 S CENTRAL AVENUE, UMATILLA, FL 32784
      View Details
    • $2,500,000
      1,155 SF

      Ocala Forest Adventure Ranch Club

      17.33-acre adventure retreat in the Ocala National Forest.
      14181 SE 211TH COURT, UMATILLA, FL 32784
      View Details
    • $389,999
      1,886 SF

      Log Cabin Style Office

      Office space with storage in Umatilla, Florida.
      541 BLANCHE AVENUE, UMATILLA, FL 32784
      View Details
    • $299,000
      1,135 SF

      Umatilla Triplex Investment Opportunity

      Triplex in Umatilla, FL, near the lake and amenities.
      30 LAKESIDE AVENUE, UMATILLA, FL 32784
      View Details

    FAQs

    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.
    (352) 787-6966
    We can help!
    Listing Contact
    DANIEL TATRO
    Real Estate License ID: 3190991
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    37415 STATE ROAD 19, UMATILLA, FL 32784
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!