10-Unit Downtown Mixed-Use
80 N Central Avenue, Umatilla, FL 32784
For Sale
New
$1,250,000
Four commercial storefronts are leased, alongside six residential apartments.
Property Size10,000 SF
Price / SF$125
Days on Market4
Property Features for 80 N Central Avenue
General Information
Standard status
Size
Zoning
Additional Details
Mixed-Use Components
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
2
true
10150
50 x 100
0.23
false
Paved
Slab
Alley,Business District,City Street
10000
1
Building Details
Building Size
Year Built
Buildings
Stories
Tenancy
Listing Agency:
SIMPLY MANAGED FLORIDA, INC
(407) 567-0682
Listed By:
Diane Barclay
Source:
Perfectchoicerealty
Added: Nov 7
Last Checked: Nov 10 at 2:18AM
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 SIMPLY MANAGED FLORIDA, INC
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Investment Insights
Based on property information with market context.
This mixed-use property in downtown Umatilla combines 6 residential apartments with 4 commercial storefronts. The commercial spaces are leased, and a major renovation was completed approximately 2 years ago. The building dates to 1952 and is zoned C-1.
Located at 80 N Central Avenue, the property is in a business district and has access from a city street and alley. The parcel is 0.23 acres, with dimensions of 50 x 100 feet.
Located at 80 N Central Avenue, the property is in a business district and has access from a city street and alley. The parcel is 0.23 acres, with dimensions of 50 x 100 feet.
Key Highlights
- 10 units: 6 residential apartments and 4 commercial storefronts
- Commercial storefronts are leased
- Major renovation completed approximately 2 years ago
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$104,570
Cap Rate
8.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,091,400
$2.1M
Cap Rate 7%
$1,493,857
$1.5M
Cap Rate 9%
$1,161,889
$1.2M
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$204.0K $20.40/SF
− Vacancy
−$13.9K −$1.39/SF
EGI
$190.1K $19.01/SF
− OpEx
−$85.6K −$8.56/SF
NOI
$104.6K $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%
$2,091,400
Cap Rate 7%
$1,493,857
Cap Rate 9%
$1,161,889
Alternative Uses
Best Use
Mixed Use
$1.77M
$1.55M – $2.07M
NOI $124,200 @ 7.0% cap · market cap 9.94%
Second Best
Retail
$1.69M
$1.48M – $1.97M
NOI $118,314 @ 7.0% cap · market cap 9.47%
Theoretical Best
Office A
$3.22M
$2.82M – $3.76M
NOI $225,720 @ 7.0% cap · market cap 18.06%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
329
Businesses Nearby
Explore this area
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
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four commercial storefronts are leased, alongside six residential apartments.
Where is this mixed-use property located?
The property is located at 80 N Central Avenue Umatilla, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 10 units: 6 residential apartments and 4 commercial storefronts; Commercial storefronts are leased; Major renovation completed approximately 2 years ago
