Updated Jul 28, 2025
Kaveh Albekord Purchases Development Site From Donna Welton In Clermont For $1.3M
17215 Grassy Lake Road
$1,300,000
$6/SF
Building Size
198,633 SF
Asset Type
Development Site
Closing
Feb 3, 2025
About this deal
AI
A development site located at 17215 Grassy Lake Road in Clermont has been sold for $1,300,000. The property spans approximately 198,633 square feet, equating to a price per square foot of $6. The site is poised for a healthcare/medical office development, designed to cater to the expanding medical service needs in the area.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $1,300,000
- Buyer: Kaveh Albekord
- Seller: Donna Welton
- Broker: Christopher Settineri - Settineri Group
- Market: Clermont
- Square Footage: 198,633
- Price Per Square Foot: $6
The Settineri Group successfully facilitated this transaction, highlighting the strategic importance of the site in alignment with the nearby AdventHealth Minneola Hospital and the associated Hills of Minneola development. This transaction reflects a significant step in fulfilling the region's evolving healthcare demands.
On the Map
$1,300,000
$6/SF
Development Site
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Minneola Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
12.20%
Cash-on-Cash
-3.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93