12120 53Rd Terrace Rd Belleview, FL 34420
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 12120 53Rd Terrace Rd
- Year built
- 1984
- Property type
- Commercial real estate
- APN
- 38523-001-00
Description
Laurel Village presents a compelling investment opportunity in the thriving Belleview, Florida rental market. This multifamily property comprises 15 units – six duplexes and one triplex – totaling 6,849 net rentable square feet, situated on a single parcel with an address of 12120 SE 53rd Terrace Rd, Belleview, FL 34420. Built between 1984 and 1988, the seven buildings are zoned R3 and boast 100% occupancy. The unit mix includes twelve two-bedroom, one-bathroom units and three one-bedroom, one-bathroom units. All two-bedroom units feature washer/dryer hookups. The property's strong pro-forma NOI of $114,124, coupled with an asking price of $1,950,000 ($130,000 per unit), indicates significant potential for return on investment. Its strategic location between Ocala and The Villages, Florida's rapidly expanding "Friendliest Hometown," provides exceptional access to a robust rental demand. Furthermore, its proximity to the Florida Crossroads Commerce Park, a major distribution hub, further enhances its appeal. Current rents are below market, presenting a clear value-add opportunity for the astute investor. The property's APN is 38523-001-00. This is a rare chance to acquire a well-located, high-occupancy multifamily complex in a rapidly growing area.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Belleview
- County
- Marion
- State
- Florida
- Longitude
- -82.0601243
- Latitude
- 29.0460626
