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    Montclair Rd Leesburg, FL 34748

    For Sale
    $761,800

    96-Unit Potential, 6+ Acres in Leesburg, FL

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional multifamily development opportunity in Leesburg, Florida, presents a compelling investment prospect. Situated on just under six acres, with an additional three acres available, this property is ideally positioned for a thriving 55+ community. The site has already received entitlements for a 96-unit multifamily development, boasting an approved density of 15.6 units per acre within the City of Leesburg. This pre-approved plan significantly streamlines the development process, reducing time and potential hurdles. The asking price for this prime parcel is $761,800. Prospective buyers are advised to independently verify Planned Unit Development (PUD) details with Lake County. The property's location on Montclair Road, Leesburg, FL 34748 (28.817434, -81.9012477), offers convenient access to local amenities and infrastructure. This is a rare chance to acquire a ready-to-develop site with significant upside potential in a growing Florida market. The existing approvals and substantial acreage make this an attractive investment for experienced developers seeking a high-return multifamily project. The property is classified as an apartment building and is being offered as a multifamily investment. Don't miss this opportunity to capitalize on the strong demand for senior living communities in this desirable location.

    Property Features for 0 Montclair Rd

    General Information

    Property type
    Multifamily properties

    HighLights

    • Exceptional multifamily development opportunity in Leesburg, FL, on nearly six acres with an additional three acres available.
    • Pre‑approved entitlements for a 96‑unit, 55+ community (15.6 units per acre).
    • Streamlined development process due to existing approvals.
    • Asking price: $761,800.
    • Located on Montclair Road, Leesburg, FL 34748.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Leesburg
    County
    Lake
    State
    Florida
    Longitude
    -81.9012477
    Latitude
    28.817434

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    FAQs

    What type of property is this?
    Multifamily property - 96-Unit Potential, 6+ Acres in Leesburg, FL
    Where is this multifamily property located?
    The property is located at Montclair Rd Leesburg, FL.
    What is the asking price?
    The asking price for this property is $761,800.
    What are key features of this property?
    This property features: Exceptional multifamily development opportunity in Leesburg, FL, on nearly six acres with an additional three acres available.; Pre-approved entitlements for a 96-unit, 55+ community (15.6 units per acre).; Streamlined development process due to existing approvals.
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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
    Montclair Rd Leesburg, FL 34748
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