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    11851 SW 38Th St Ocala, FL 34481

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    Sponsored
    For Sale
    $1,599,000

    Ranch, Farm - OCALA, FL

    Type:Farm
    Property size:
    2,985 SF
    Lot size:
    12.71 Acres
    Days on Market:
    3
    Last Refresh:
    Mar 18 at 7:06 am

    Property Features for 11851 SW 38Th St

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Active
    Zoning
    A1
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Kitchen, Living Room
    Bedrooms
    3
    Bathrooms
    2
    APN
    21300-002-00
    Parking features
    Garage, Garage - Attached, RV
    Pool private
    1
    Interior features
    Built-in Features, Cathedral Ceiling(s), Eat-in Kitchen, High Ceilings, Living Room/Dining Room Combo, Open Floorplan, Split Bedroom
    Exterior features
    Paved, Fencing, French Doors, Lighting, Private Mailbox, Rain Gutters, Pool
    Fencing
    Fenced
    Fireplace
    1
    Appliances
    Dishwasher, Dryer, Range, Refrigerator, Refrigerator - Wine Storage, Washer
    Size
    2,985 SF
    Lot size
    12.71 Acres

    Utilities

    Heating system
    Fireplace(s), Heat Pump (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1985
    Flooring type
    Bamboo, Tile
    Building materials
    Brick
    Roof type
    Shingle
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Claire Khuen

    Showcase Properties of Central Florida (352) 351-4718

    Listing agent Claire Khuen (352) 351-4718 License #3248465

    Listing date Mar 16, 2026

    MLS# OM711661 Listing URL

    Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Ocala Equestrian Farm Near WEC

    Located in Marion County's Horse Country, this 12.71-acre farm is situated 4 miles from the World Equestrian Center (WEC). The property features a gated entry and a paved driveway, leading to a center aisle barn and five paddocks with board fencing. The nine-stall concrete block center-aisle barn includes wash stalls, grooming stalls, an equipment and work area, and a new tack room/riders lounge with a full bath and laundry area. A newly constructed two-stall concrete block barn near the main home includes its own wash area and tack/feed room. A 30-amp RV hookup with septic connection is available. The updated three-bedroom, two-bath home, built in 1985, spans just under 3,000 square feet and features a split-bedroom floor plan, tall ceilings, and engineered hardwood flooring and tile in the kitchen and baths. The great room includes a brick accent wall with fireplace, large windows, cathedral ceilings, and a formal dining area. The kitchen is equipped with stainless steel appliances, extensive cabinet storage, quartz countertops, and a large center island with breakfast bar. An additional breakfast nook with built-in shelving and window seat offers views of the farm and pool. The primary suite includes an extra-large layout, walk-in closet, and private en-suite bathroom with an overflow tub and dual vanities. Additional features include a dedicated office and a spacious garage. At the back of the home is a large screen-enclosed pool deck with a resurfaced in-ground pool and spa, a covered seating area, and an adjacent open-air covered deck. A climate-controlled flex building with covered carport is also on the property, suitable for a gym, workshop, studio, or office. The property is zoned A1.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Heaven's Edge Stables Equestrian Facility

    Suggested Use

    Big Box & Wholesale Store HVAC Service Electrical Service Home Appliance Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ocala
    County
    Marion
    State
    Florida
    Longitude
    -82.316111
    Latitude
    29.152905

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    FAQs

    What type of property is this?
    Horse & equestrian property - 12.71-acre farm with equestrian facilities and updated home near WEC.
    Where is this horse & equestrian property located?
    The property is located at 11851 SW 38Th St Ocala, FL.
    What is the asking price?
    The asking price for this property is $1,599,000.
    What are key features of this property?
    This property features: - Prime location: Just 4 miles from the World Equestrian Center (WEC) in Marion County's Horse Country; - Turnkey equestrian facilities: Featuring a 9-stall center-aisle barn and 2-stall barn; - Updated and spacious home: Boasting a 3-bedroom, 2-bath home (just under 3,000 sqft) with modern amenities
    (352) 351-4718
    Request Owner's contact information
    11851 SW 38Th St Ocala, FL 34481
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    Ocala, FL 34481
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    11851 SW 38Th St Ocala, FL 34481
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    We can help!
    Listing Contact
    Claire Khuen
    Real Estate License ID: 3248465
    (352) 351-4718 (352) 362-0293
    Learn more
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