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    21741 149Th Ln Umatilla, FL 32784

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    21741 149Th Ln Umatilla, FL 32784

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    • Small apartment buildings
    Off-Market
    Property ID
    US18-8752832
    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

    • Small apartment buildings

    Property Details for 21741 149Th Ln

    Property type
    Small apartment buildings

    Description

    This exceptional 0.28-acre (18,762 sq ft) parcel of land, located at 21741 SE 149th Lane in Umatilla, Florida (zip code 32784), presents a compelling investment opportunity. Situated within the Forest Lake Campsites, this property boasts R4 zoning, allowing for versatile development options. The zoning permits a mix of single-family, double-wide manufactured homes, duplexes, or conventional homes, catering to a range of development strategies. According to the property appraiser's records, a well and septic system are present on the site; however, the seller does not have firsthand knowledge of their condition or functionality. Prospective buyers are strongly encouraged to conduct their own due diligence to verify the accuracy of tax roll measurements and all other information pertaining to the property's infrastructure and suitability for their intended development plans. The asking price for this multifamily development opportunity is $13,000. This land offers significant potential for investors seeking to capitalize on the growing demand for residential housing in the Umatilla area. The property's location within Forest Lake Campsites provides additional advantages, including access to existing amenities and infrastructure. This is a rare opportunity to acquire a well-located, versatile parcel of land in a desirable area.

    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
    Umatilla
    County
    Marion
    State
    Florida
    Longitude
    -81.7951625
    Latitude
    29.0048814

    Comparable in this City

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      Umatilla Investment Opportunity For Sale

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    • $299,000
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      Umatilla Triplex Investment Opportunity

      Triplex in Umatilla, FL, near the lake and amenities.
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    • $415,000
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      Turnkey Duplex with Income

      Income-producing duplex with lake views in Umatilla, Florida.
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    • $610,000
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      Lakefront Mixed-Use Property in Umatilla

      Historic lakefront property suitable for residential and professional use.
      243 S Central Ave, Umatilla, FL 32784
      View Details

    Similar Nearby for Sale

    • $899,000
      4,721 SF

      Umatilla Investment Opportunity For Sale

      Two buildings, almost fully leased, on 1.17 acres.
      37415 State Road 19, Umatilla, FL 32784
      View Details
    • $299,000
      1,135 SF

      Umatilla Triplex Investment Opportunity

      Triplex in Umatilla, FL, near the lake and amenities.
      30 Lakeside Ave, Umatilla, FL 32784
      View Details
    • $415,000
      2,160 SF

      Turnkey Duplex with Income

      Income-producing duplex with lake views in Umatilla, Florida.
      260 S Central Ave, Umatilla, FL 32784
      View Details
    • $610,000
      1,961 SF

      Lakefront Mixed-Use Property in Umatilla

      Historic lakefront property suitable for residential and professional use.
      243 S Central Ave, Umatilla, FL 32784
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Umatilla Retail Spaces For Lease

      Retail and office spaces available for lease in Umatilla, Florida.
      749 S Central Ave, Umatilla, FL 32784
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    • $2,500 /Mo
      600 SF

      Versatile Retail/Live-Work Space in Umatilla

      Flexible retail or live/work space in Umatilla, close to amenities.
      55 Guerrant St, Umatilla, FL 32784
      View Details
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    Umatilla, FL 32784
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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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