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Multi-Family

Royal Palms Apartment Site

755 South Lake Street, Leesburg, FL 34748

Listing Price: $2,500,000

Lot Size
34.68 acres
Price/Acre
$72,088
Land Type
Land

Investment Overview

Royal Palms Apartment Site is an approved PUD (Planned Unit Development) multifamily site that contains approximately 34.68 gross acres in Leesburg, Florida. The site is approved for 250 apartment units with approximately 2,000 linear feet of frontage on Lake Harris. The site is adjacent to the Venetian Isle PUD, containing approximately 54.56 gross acres, 49.08 usable acres. The Venetian Isle property is approved for retail buildings, medical office buildings, approximately 250 bed senior housing facilities, including ILF, ALF and memory care, a 148 room hotel, townhomes and single family lots.

Located in Lake County, Leesburg, Florida is in the heart of Florida on Lake Harris, approximately one hour north of Orlando. The population has sustained continued growth over the last fifteen years and forecasts predict an annual increase of 2% per year over the next five years. Projections for 2017 predict that 60.5% of the population will be over the age of 55.

The property is ideally located just southeast of the Leesburg Regional Medical Center (LRMC), a 322 bed acute care hospital, which is the 4th largest hospital in central Florida. In 2011 the hospital made a $5,000,000 renovation to their facility, which included a new roof, windows and upgrading patient private rooms. The LRMC serves a vast number of residents from Lake, Sumter and Marion counties, specializing in Cardiac, Oncology and Orthopedic services. The LRMC has been a catalyst for a large concentration of medical service and ancillary medical providers within the region, including Mid Florida Prosthetics & Orthopedics, Central Florida Oncology & Hematology, MRI of Central Florida, Clare Bridge Alzheimer & Dementia Care and Davita Leesburg Dialysis Centers.

Royal Palms is an excellent opportunity for a developer to acquire an approved mixed use PUD in a growing market for the development of 250 apartments.

Investment Highlights

  • Adjacent to Approved Venetian Isle PUD
  • Proposed Boardwalk & Docks on Lake Harris
  • Approved PUD for 250 Apartments
  • 2,000 Feet Frontage on Lake Harris

Exclusively Listed By

Multi-Family

Royal Palms Apartment Site

Listing Price: $2,500,000

Lot Size
34.68 acres
Price/Acre
$72,088
Land Type
Land

Investment Highlights

  • Adjacent to Approved Venetian Isle PUD
  • Proposed Boardwalk & Docks on Lake Harris
  • Approved PUD for 250 Apartments
  • 2,000 Feet Frontage on Lake Harris

Investment Overview

Royal Palms Apartment Site is an approved PUD (Planned Unit Development) multifamily site that contains approximately 34.68 gross acres in Leesburg, Florida. The site is approved for 250 apartment units with approximately 2,000 linear feet of frontage on Lake Harris. The site is adjacent to the Venetian Isle PUD, containing approximately 54.56 gross acres, 49.08 usable acres. The Venetian Isle property is approved for retail buildings, medical office buildings, approximately 250 bed senior housing facilities, including ILF, ALF and memory care, a 148 room hotel, townhomes and single family lots.

Located in Lake County, Leesburg, Florida is in the heart of Florida on Lake Harris, approximately one hour north of Orlando. The population has sustained continued growth over the last fifteen years and forecasts predict an annual increase of 2% per year over the next five years. Projections for 2017 predict that 60.5% of the population will be over the age of 55.

The property is ideally located just southeast of the Leesburg Regional Medical Center (LRMC), a 322 bed acute care hospital, which is the 4th largest hospital in central Florida. In 2011 the hospital made a $5,000,000 renovation to their facility, which included a new roof, windows and upgrading patient private rooms. The LRMC serves a vast number of residents from Lake, Sumter and Marion counties, specializing in Cardiac, Oncology and Orthopedic services. The LRMC has been a catalyst for a large concentration of medical service and ancillary medical providers within the region, including Mid Florida Prosthetics & Orthopedics, Central Florida Oncology & Hematology, MRI of Central Florida, Clare Bridge Alzheimer & Dementia Care and Davita Leesburg Dialysis Centers.

Royal Palms is an excellent opportunity for a developer to acquire an approved mixed use PUD in a growing market for the development of 250 apartments.

Exclusively Listed By

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