Build your single family home in Rainbow Lakes, Dunnellon, Levy County, Florida.rn0.25 acre. 10,890 sq.ft.rnVacant residential land for sale in Rainbow Lakes, Dunnellon. Paved road. Close to Tiger Lake (0.61 miles), Romeo Elementary School (6 miles) Ocala (32 miles), the World Equestrian Center in Ocala (27 miles), the Rainbow River (20 miles).