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Multi-Family

Royal Palms Apartment Land

755 S Lake St, 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 a previously approved PUD (Planned Unit Development) multifamily site that contains approximately 34.68 gross acres located at 755 South Lake Street, Leesburg, Florida 34748. The site was approved for 250 apartment units with approximately 2,000 linear feet of frontage on Lake Harris. The PUD has expired and will need to be reinstated. Royal Palms is adjacent to the Venetian Isle PUD, containing approximately 49.52 gross 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 105 room hotel, townhomes and single family lots. Located in Lake County, Leesburg, Florida, The Lakefront City, is in the heart of Florida between Lake Harris and Lake Griffin, 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. 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 and they recently completed a $29,000,000 expansion of their emergency department. 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 a multifamily site in a growing market for the development of 250 apartments.

Investment Highlights

  • Previously Approved for 250 Apartment Units
  • 2,000 Feet Frontage on Lake Harris
  • Adjacent to Approved Venetian Isle PUD
  • Proposed Boardwalk, Docks & Wet Boat Slips on Lake Harris

Exclusively Listed By

Multi-Family

Royal Palms Apartment Land

Listing Price: $2,500,000

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

Investment Highlights

  • Previously Approved for 250 Apartment Units
  • 2,000 Feet Frontage on Lake Harris
  • Adjacent to Approved Venetian Isle PUD
  • Proposed Boardwalk, Docks & Wet Boat Slips on Lake Harris

Investment Overview

Royal Palms Apartment Site is a previously approved PUD (Planned Unit Development) multifamily site that contains approximately 34.68 gross acres located at 755 South Lake Street, Leesburg, Florida 34748. The site was approved for 250 apartment units with approximately 2,000 linear feet of frontage on Lake Harris. The PUD has expired and will need to be reinstated. Royal Palms is adjacent to the Venetian Isle PUD, containing approximately 49.52 gross 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 105 room hotel, townhomes and single family lots. Located in Lake County, Leesburg, Florida, The Lakefront City, is in the heart of Florida between Lake Harris and Lake Griffin, 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. 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 and they recently completed a $29,000,000 expansion of their emergency department. 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 a multifamily site in a growing market for the development of 250 apartments.

Exclusively Listed By

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