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    2048 Miller Blvd Fruitland Park, FL 34731
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    2048 Miller Blvd, Fruitland Park, FL 34731

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    • Commercial real estate
    • 4.00 lot acres
    For Sale
    $874,900
    View Listing →
    Prime 4-Acre Fruitland Park Land For Sale
    $874,900

    Prime 4-Acre Fruitland Park Land

    High-visibility commercial land near The Villages.

    2048 Miller Blvd, Fruitland Park, FL 34731
    View Listing
    Property ID
    US18-3659407
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2048 Miller Blvd

    Lot size
    4.00 lot acres
    Property type
    Commercial real estate
    APN
    04-19-24-000300004000

    Description

    This exceptional 4-acre parcel, located at 2048 Miller Blvd in Fruitland Park, Florida (Lake County, zip code 34731), presents a compelling investment opportunity. Zoned AG, the property boasts an impressive 364+ feet of frontage along CR 466A, a major retail and hospitality thoroughfare within The Villages, connecting US Hwy 441 to Hwy 301. This high-traffic location offers excellent visibility and accessibility, making it ideal for a variety of commercial ventures. The Villages, one of the largest retirement communities in the US, continues to experience significant growth, with a current population exceeding 130,000 residents. This robust population base and ongoing expansion create a strong demand for commercial properties in the area. The asking price is $874,900. The property includes an existing residence, which can be viewed during due diligence

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fruitland Park
    County
    Lake
    State
    Florida
    Longitude
    -81.9186743
    Latitude
    28.8611856

    Comparable in this City

    • $65,000
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      Fruitland Park Land Investment Opportunity

      Thirteen individual lots available in Lake Myrtle Breezes community.
      1004 Myrtle Breezes Ct, Fruitland Park, FL 34731
      View Details
    • $65,000
      0.34 Acres

      Fruitland Park Land Investment

      Thirteen individual lots in deed-restricted Lake Myrtle Breezes community.
      1013 Myrtle Breezes Ct, Fruitland Park, FL 34731
      View Details
    • $2,500,000
      Pending

      Prime Commercial Outparcel in Fruitland

      2.62-acre commercial outparcel in a rapidly growing area.
      305 County Road 466A, Fruitland Park, FL 34731
      View Details
    • $550,000

      Prime Commercial Land in Fruitland

      4 acres of C-2 zoned land in Fruitland Park.
      747 County Road 466A, Fruitland Park, FL 34731
      View Details

    Similar Nearby for Sale

    • $65,000
      0.45 Acres

      Fruitland Park Land Investment Opportunity

      Thirteen individual lots available in Lake Myrtle Breezes.
      1005 Myrtle Breezes Ct, Fruitland Park, FL 34731
      View Details
    • $65,000
      0.35 Acres

      Fruitland Park Land Investment Opportunity

      Thirteen individual lots available in Lake Myrtle Breezes.
      1115 Myrtle Breezes Ct, Fruitland Park, FL 34731
      View Details
    • $65,000
      0.34 Acres

      Fruitland Park Land Investment Opportunity

      Thirteen individual lots in deed-restricted Lake Myrtle Breezes community.
      1112 Myrtle Breezes Ct, Fruitland Park, FL 34731
      View Details

    Similar Nearby for Lease

    • $48,000
      605,048 SF

      Fruitland Park Industrial Ground Lease

      14-Acre Industrial Land Lease in Florida
      2363 Us-441, Fruitland Park, FL 34731
      View Details
    • Contact for pricing
      100,000 SF

      Fruitland Park Mixed-Use Development

      68-acre mixed-use opportunity in Lake County
      0 Timbertop Ln, Fruitland Park, FL 34731
      View Details
    • Contact for pricing

      Retail Development Land Opportunity

      11 acres for retail development at lighted intersection.
      Fruitland St, Fruitland Park, FL 34731
      View Details
    • Contact for pricing

      Industrial Land For Lease

      Industrial land available for outside storage and various uses.
      2363 Us Highway 441/27, Fruitland Park, FL 34731
      View Details
    • Contact for pricing

      Mixed-Use Project with Commercial Land

      68 AC mixed-use project with commercial and multi-family development.
      1236 County Road 466A, Fruitland Park, FL 34731
      View Details
    • Contact for pricing
      18,300 SF

      Mixed-Use Development Land Available

      68 AC mixed-use project with commercial and multi-family phases.
      Timbertop Ln, Fruitland Park, FL 34731
      View Details
    View Listing
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    Fruitland Park, FL 34731
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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.

    More about this property
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