Heller was one of 18 bidders at the outdoor auction, 40 miles north of Downtown Orlando. Heller couldn't be reached for comment. But brokers who have worked with him in the past tell GlobeSt.com the 46-year-old retired Winter Park, FL millionaire expected Orlando area developer representatives to easily outbid him.

Heller bought the 54-year-old, former dairy farm from Anthony and Jeannette Basile who sold the property because they are retiring at age 70. The Basiles purchased the ranch in 1989 for an undisclosed sum. Saratoga Standardbred Inc., which has managed the property since 1986, will continue to operate the asset for Heller. He has told associates he has no plans to convert the site to a commercial-industrial-residential development.

Land brokers familiar with the Volusia County industrial submarkets tell GlobeSt.com the 148-acre property has a potential development value of at least $7.4 million or about $50,000 per acre. Spring Garden Ranch has a restaurant, lounge and a recreational area with a pool, tennis, basketball and raquetball courts.