Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    5830 Drew Rd Belleview, FL 34420
    Back to Search
    Property profile & analytics

    5830 Drew Rd, Belleview, FL 34420

    View on Map
    • Commercial real estate
    • 10,500 SF
    • 1.22 lot acres
    Off-Market
    Property ID
    US18-4272542
    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 5830 Drew Rd

    Year built
    1974
    Lot size
    1.22 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional value-add opportunity presents a 20-unit apartment building situated on a 1.22-acre lot in Belleview, Florida. The property, known as Serenity Gardens @ Belleview, consists of five one-story, concrete block quadplexes, each unit offering 525 square feet with one bedroom and one bathroom. Built in 1974, the property boasts recently updated roofs on all buildings and fresh exterior paint. All units are individually metered for utilities, with tenants responsible for water, sewer, and electricity; the owner covers trash removal. Currently operating at 95% occupancy, the property generates a Net Operating Income (NOI) of $127,968, representing a 6.74% cap rate. Pro-forma projections indicate a significant increase in NOI to $160,768 and an 8.46% cap rate, highlighting the substantial upside potential. The asking price is $1,900,000, or $95,000 per unit. The property's strategic location, 1.5 miles from the Belleview Regional Shopping Center (including a new Publix), provides convenient access to retail, dining, and community parks. Belleview's robust growth trajectory, fueled by nearby Ocala and The Villages expansions, positions this investment for long-term appreciation. The property is zoned for multifamily use and offers significant potential for increased rental income through strategic property management and capital improvements. This is a rare opportunity to acquire a well-located, multifamily asset in a high-growth market with immediate upside potential. The property's strong cash flow and projected growth make it an attractive investment for both seasoned and emerging real estate investors.

    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
    Belleview
    County
    Marion
    State
    Florida
    Longitude
    -82.051767316051
    Latitude
    29.064741403932

    Comparable in this City

    • $475,000

      Belleview Multifamily Investment Opportunity

      Six-unit multifamily property with income and value-add potential.
      11585 SE 59Th Ave, Belleview, FL 34420
      View Details
    • $465,000
      2,406 SF

      Belleview Multi-Family Investment Opportunity

      Seven-unit mobile home park near shopping and dining in Belleview.
      5433 SE 113Th St, Belleview, FL 34420
      View Details
    • $650,000
      5.00 Acres

      Mobile Home Park Zoned Land

      5 acre lot zoned for mobile home park use.
      10389 SE 50Th Ave, Belleview, FL 34420
      View Details
    • $1,800,000

      Belleview Mixed-Use Development Opportunity

      7.95 acres for commercial and multi-family development on 441/301.
      4799 SE 106Th Place Rd, Belleview, FL 34420
      View Details

    Similar Nearby for Sale

    • $465,000
      2,406 SF

      Belleview Multi-Family Investment Opportunity

      Seven-unit mobile home park near shopping and dining in Belleview.
      5433 SE 113Th St, Belleview, FL 34420
      View Details
    • $475,000

      Belleview Multifamily Investment Opportunity

      Six-unit multifamily property with income and value-add potential.
      11585 SE 59Th Ave, Belleview, FL 34420
      View Details
    • $650,000
      5.00 Acres

      Mobile Home Park Zoned Land

      5 acre lot zoned for mobile home park use.
      10389 SE 50Th Ave, Belleview, FL 34420
      View Details
    • $1,500,900
      10,884 SF

      Belleview Mobile Home Park

      Mobile home park with stable rental history near The Villages.
      12656 SE 78Th Ter, Belleview, FL 34420
      View Details
    • $389,900

      Belleview Quadruplex Investment Opportunity

      Cash-flowing Belleview quadruplex with updated features and convenient location.
      11551 SE 57Th Ct, Belleview, FL 34420
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,200 SF

      Retail Space with B5 Zoning

      Retail space available for rent with versatile B5 zoning.
      12021 SE County Highway 484, Belleview, FL 34420
      View Details
    • $600 /Mo
      245 SF

      Belleview Retail Space For Rent

      Retail space in a high-traffic location with utilities included.
      4849 SE 110Th St, Belleview, FL 34420
      View Details
    • $23,400

      Retail Space For Lease

      1650 sq ft commercial space in busy area.
      5304 SE Abshier Blvd, Belleview, FL 34420
      View Details
    • Contact for pricing

      Belleview Warehouse with Office Space

      7,200 SF warehouse with office space for lease.
      9732 Us Highway 441, Belleview, FL 34420
      View Details
    • Contact for pricing
      15,000 SF

      Restaurant/Retail Space For Rent

      Restaurant and retail spaces available in grocery anchored center.
      10737-10845 Us Highway 441 SE, Belleview, FL 34420
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5830 Drew Rd
    Belleview, FL 34420
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    5830 Drew Rd, Belleview, FL, 34420
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!