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6801 Hwy 17-92 Loughman, FL 33896
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For Sale
$449,000
2.32 Acres, Prime Development Site
Description
Added:
Dec 11, 2024
Days on Market:
415
This exceptional 2.32-acre parcel in Davenport, Florida, presents a compelling residential development opportunity. Located on US Hwy 17-92 N, this cleared land boasts convenient access to major thoroughfares, including the I-4 Expressway, providing easy commutes to Orlando and beyond. The property is zoned RL-4X, allowing for single-family development, with potential for upzoning to RMX for increased density and multifamily or townhome construction. All utilities—electric, cable, internet, water, sewer, trash, and recycling—are readily available. The site benefits from its strategic location near recently constructed planned communities, a future 288-unit apartment complex, and the Publix-anchored Loughman Crossing shopping center, indicating strong growth potential. Traffic counts on Ronald Reagan Parkway, where the property fronts, have increased by over 50% in four years. The area offers excellent schools within a short drive, including Loughman Oaks Elementary, Mater Academy Charter School, Davenport School of the Arts, and Davenport High School. Loughman Park, with playgrounds and sports courts, is within walking distance. Residents will enjoy proximity to numerous dining, shopping, and entertainment options, as well as world-class resorts, theme parks (Walt Disney World is just 10 miles away), and beaches within a reasonable driving distance. The property consists of three parcels (APN: 28-26-06-000000-042040, 28-26-06-932800-006093, 28-26-06-932800-006092) and is not located within a Community Redevelopment Area (CRA). This is an ideal investment for developers seeking a prime location in a rapidly expanding market. The asking price is $449,000.
Property Features for 6801 Hwy 17-92
General Information
Property type
Land
Lot Size
101,059 SF
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Listing Contact
Britney Mroczkowski
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HighLights
2.32‑acre cleared lot in Davenport, FL, on US Hwy 17‑92 N, offering excellent access to I‑4.
Currently zoned RL‑4X, with potential for upzoning to RMX for increased density. All utilities available.
Prime location near new communities, a planned 288‑unit apartment complex, and Loughman Crossing shopping center. Excellent schools and Loughman Park nearby.
The property is located at 6801 Hwy 17-92 Loughman, FL.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 2.32-acre cleared lot in Davenport, FL, on US Hwy 17-92 N, offering excellent access to I-4.; Currently zoned RL-4X, with potential for upzoning to RMX for increased density. All utilities available.; Prime location near new communities, a planned 288-unit apartment complex, and Loughman Crossing shopping center. Excellent schools and Loughman Park nearby.
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6801 Hwy 17-92 Loughman, FL 33896
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Realmo Value Estimations
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.
Realmo CapRate Calculation
Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.
How We Calculate Cap Rate
Cap Rate Formula: Cap Rate (%) = (Net Operating Income / Property Value) × 100
Net Operating Income (NOI) Formula: NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)
Components
Net Operating Income (NOI) represents the annual income a property generates after operating expenses:
Area: Building square footage from property records
Lease Rate: Annual $/sqft based on market data for the property type and geographic location
Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
Operating Expense Ratio: Operating costs as a percentage of income, varies by property type
Property Value is derived from:
Recent sale price (if available)
Statistical models using comparable sales
AI-powered valuation estimates
Example Calculation
For a 100,000 sqft Office Building:
Lease Rate: $25.00/sqft/year (market data for Office in this area)
Vacancy Rate: 8% (market data for Office in this area)
Operating Expense Ratio: 35% (typical for Office properties)
Property Value: $15,000,000
Step 1: Calculate NOI
NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35) NOI = 100,000 × $25.00 × 0.92 × 0.65 NOI = $1,495,000/year
Step 2: Calculate Cap Rate
Cap Rate = ($1,495,000 / $15,000,000) × 100 Cap Rate = 9.97%
Property Type Considerations
Net Operating Income calculations vary by property type due to different operating expense ratios:
Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
Retail: Moderate expenses (25-35%) for common area maintenance
Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
Multifamily: Moderate expenses (35-45%) including property management
Self-Storage: Lower expenses (25-35%) due to minimal maintenance
Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.
Disclaimer
These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.
Cap Rate calculations depend on market data that may change over time
Actual operating expenses, lease rates, and vacancy rates may differ from market averages
Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
Property value estimates are approximations and not official appraisals
Cap rates vary widely by market, property condition, and investment risk profile
Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.
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.
Stat Estimate
This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.
Ranges - area data calculated by industry standard IQR Outlier Removal Method
Range-from: 75% of all similar sales ($/sqft) are above this value
Range-to: 75% of all similar sales ($/sqft) are below this value
AI Estimate
This method estimates value based on AI market estimation of comparable properties around by location and property type.
Ranges - area data calculated by industry standard IQR Outlier Removal Method
Range-from: 75% of all estimations ($/sqft) are above this value
Range-to: 75% of all estimations ($/sqft) are below this value
Alternative use
Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.
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6801 Hwy 17-92 Loughman, FL 33896
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6801 Hwy 17-92, Loughman, FL
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6801 Hwy 17-92, Loughman, FL
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Real Estate License ID: FL BK3241479
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