Two-Building Mixed-Use Income
For Sale
$899,000
37415 State Road 19 UMATILLA, Umatilla, FL 32784
Remodeled 7-unit apartments plus 1,920 SF pole barn/covered carport commercial space on SR 19.
Property Size6,723 SF
Price / SF$190.43
Days on Market97
Property Features for 37415 State Road 19 UMATILLA
General Information
Standard status
Active
Size
6,723 SF
Zoning
C-2 & R-6
Taxes and HOA fees
Annual Taxes
$12,123
Amenities
1
Public Records
true
1.1019
400 x 100
1.1
false
Asphalt
Slab
Divided Highway,State Road
6723
2
Building Details
Building Size
6,723 SF
Year Built
1953
Buildings
2
Stories
1
Listing Agency:
THE REAL ESTATE COLLECTION LLC
Listed By:
Lisa Mahjoub · License #SL3533505
(407) 656-7814
Source:
Therealestatecollection
Added: Jul 3
Changed: Sep 29
Last Checked: Oct 5 at 3:42PM
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 THE REAL ESTATE COLLECTION LLC
Investment Insights
Based on property information with market context.
This two-building mixed-use property includes a recently remodeled 7-unit apartment complex and a separate commercial structure. The apartments are configured as 1BR/1BA units, providing a straightforward residential income component within the same ownership. The second building is described as a 1,920 SF pole barn/covered carport area, offering covered space in a simple, functional format that can support a range of commercial uses.
The property is located in Umatilla, Florida, fronting SR 19, according to the provided information. It sits on 1.17 +/- acres and is located in Lake County. The property is currently zoned C-2/R-6, which supports both commercial and residential considerations under the stated classification.
As presented, the offering is an investment and income opportunity, with the two buildings described as almost 100% leased. For tenants and operators, the combination of on-site residential units and a dedicated covered commercial space can support users seeking an income-producing setup where both components are under one roofline. For buyers, the zoning, acreage, and frontage described here may be especially relevant when evaluating flexibility and day-to-day operational continuity across both buildings.
The property is located in Umatilla, Florida, fronting SR 19, according to the provided information. It sits on 1.17 +/- acres and is located in Lake County. The property is currently zoned C-2/R-6, which supports both commercial and residential considerations under the stated classification.
As presented, the offering is an investment and income opportunity, with the two buildings described as almost 100% leased. For tenants and operators, the combination of on-site residential units and a dedicated covered commercial space can support users seeking an income-producing setup where both components are under one roofline. For buyers, the zoning, acreage, and frontage described here may be especially relevant when evaluating flexibility and day-to-day operational continuity across both buildings.
Key Highlights
- 7‑unit apartment complex, all 1BR/1BA, recently remodeled
- 2 buildings on a 1.1‑acre lot (400 x 100) with asphalt road surface and slab foundation
- Commercial building includes 1,920 SF pole barn/covered carport fronting SR 19
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.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
6
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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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Remodeled 7-unit apartments plus 1,920 SF pole barn/covered carport commercial space on SR 19.
Where is this apartment building located?
The property is located at 37415 State Road 19 UMATILLA 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: 7‑unit apartment complex, all 1BR/1BA, recently remodeled; 2 buildings on a 1.1‑acre lot (400 x 100) with asphalt road surface and slab foundation; Commercial building includes 1,920 SF pole barn/covered carport fronting SR 19
