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    24439 Sorrento Ave Sorrento, FL 32776

    For Sale
    $1,000,000

    1.37 Acres, R-6 Zoned, Shovel Ready

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional 1.37-acre commercial land parcel presents a rare shovel-ready opportunity in Lake County, Florida. Located at the hard corner of a signalized intersection of SR 46 and CR 437 in Sorrento, this property boasts 709 feet of combined frontage. Zoned R-6, it allows for a wide range of commercial uses permitted under Lake County's Land Development Code, with maximum allowable impervious coverage and minimal setbacks. The site is already graded to road level, minimizing site preparation costs and expediting development. This prime location benefits from high traffic counts (14,500 AADT on SR 46 and 13,200 AADT on CR 437), placing it within the rapidly growing Orlando-Kissimmee MSA, the third largest in Florida. The area is experiencing significant population growth and boasts a low unemployment rate. Furthermore, the property's strategic location is enhanced by ongoing road development projects, including the Wekiva Parkway expansion, which will significantly improve regional connectivity and accessibility. This is an ideal investment for developers seeking a prime location with minimal development hurdles in a thriving market. The property is offered at $1,000,000 and is held in fee simple. The APN is 30-19-28-0400-008-01400. The property consists of four lots creating a hard corner on the northwest side of the intersection.

    Property Features for 24439 Sorrento Ave

    General Information

    Property type
    Land
    Lot Size
    59,677 SF

    HighLights

    • Shovel‑ready 1.37‑acre commercial land site.
    • R‑6 zoned, four‑lot assemblage forming a hard corner at a signalized intersection.
    • 709 feet of total frontage along Craig Ave, CR 437, and SR 46.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Sorrento
    County
    Lake
    State
    Florida
    Longitude
    -81.5522749
    Latitude
    28.8081229

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    FAQs

    What type of property is this?
    Land - 1.37 Acres, R-6 Zoned, Shovel Ready
    Where is this land located?
    The property is located at 24439 Sorrento Ave Sorrento, FL.
    What is the asking price?
    The asking price for this property is $1,000,000.
    What are key features of this property?
    This property features: Shovel-ready 1.37-acre commercial land site.; R-6 zoned, four-lot assemblage forming a hard corner at a signalized intersection.; 709 feet of total frontage along Craig Ave, CR 437, and SR 46.
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    Realmo Value Estimation

    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.

    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.

    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
    24439 Sorrento Ave Sorrento, FL 32776
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