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38020 CHERRY LAKE ROAD, FRUITLAND PARK, FL 34731
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$699,900
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Home Details for 38020 CHERRY LAKE ROAD
Price
$699,900
Type
Lots/Land
Lot Size
9.81
County
Lake
Tax
$4,162
MLS®️ Listing#
G5089561
On exitrealty.com
331 days
Property Description
MOTIVATED SELLER.. BRING US AN OFFER!!!!THIS IS THE PERFECT PLACE FOR AN RV STORAGE OR SELF STORAGE DEVELOPMENT DIRECTLY ADJACENT TO THE VILLAGES MASSIVE RETIREMENT COMMUNITY AND THE HAMMOCK OAKS DEVELOPMENT ON 466 AND CHERRY LAKE ROAD WHERE THE NEIGHBORHOOD WAL MART IS BEING BUILT. PRIME FOR DEVELOMENT AT A GREAT PRICE PER ACRE.
This 10-acre parcel of vacant land represents a prime opportunity for development, offering an exceptional price per acre. Situated in a promising area poised for growth, this expansive property provides the perfect canvas for a variety of development possibilities. Whether you're envisioning a residential community, commercial enterprise, or a mixed-use project, the spaciousness and strategic location of this land can accommodate your plans. Additionally, the favorable price point enhances the investment potential, making it an attractive option for developers looking to capitalize on emerging market trends. With the right vision and planning, this land could transform into a thriving development, offering long-term value and success.
Market Context & Rent Assumptions
• Average rent per unit in Fruitland Park is around $120/month, across a mix of sizes and climate-controlled options .
• Climate-controlled units average about $136/month, while non-climate looks closer to $130/month .
• Specialty vehicle/RV/boat storage units average $95–$99/month .
Facility Specs & Revenue Scenarios
Rentable Area Potential
A comparable market asset in Fruitland Park spans ~60,880 rentable sqft on 10 acres, depending on layout and building coverage, a similar size is feasible.
Unit Mix Example
Non climate units: 45,000 sqft
Climate controlled units: 10,00 0sqft
Vehicle/RV/boat storage: 5,000 sq ft
Monthly Gross Income Estimate
Non climate units: 45,000?sq?ft × ($130 / tenant? better convert by unit)
Let’s approximate units: an average unit 100 sqft 450 units × $130 = $58,500/month
Climate controlled: 100 units × $136 = $13,600/month
Vehicle/RV/boat spots (50 spots) × $95 = $4,750/month
Total estimated monthly gross $76,850
Annual gross revenue ˜ $922,200
Revenue Ranges
Depending on density and enhancements:
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- Water Features
- Private
- Well
- Utilities
- Electricity Available
Listing Courtesy: BLACK TIE REALTY, INC. - 352-751-7888
Listings courtesy of Stellar MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listing information is provided for consumers? personal, non-commercial use, solely to identify prospective properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Information deemed reliable but not guaranteed. Copyright ©2025 MLS GRID. All Rights Reserved.
Last Updated: 2025-09-10 08:00:29
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Market statistics compiled from data from Stellar MLS.
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