Umatilla Investment Opportunity For
37415 STATE ROAD 19 Umatilla, FL 32784
37415 STATE ROAD 19, Umatilla, FL, 32784
$899,000
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 Market279
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
Listing Agency
GRIZZARD COMMERCIAL REALESTATE
(352) 787-6966
Listed by
DANIEL TATRO · License #3190991
Source
Corcoran
Added: Oct 16, 2025 Updated: Jul 6 at 9:51 am Checked: Jul 20 at 5:59 am
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
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.
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
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
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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.
