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    15057 16TH DRIVE E Bradenton, FL 34212

    View on Map
    Pending
    $5,250,000

    Land - BRADENTON, FL

    Lot size:
    36.63 Acres
    Added:
    Aug 25, 2023
    Days on Market:
    958
    Last Refresh:
    Apr 8 at 4:06 am

    Property Features for 15057 16TH DRIVE E

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    A
    Exterior features
    Corner Lot, Level, Fencing
    Fencing
    Fenced
    Standard status
    Pending
    APN
    562901256
    Lot size
    36.63 Acres

    Taxes and HOA fees

    Tax Year
    2022
    Tax Annual Amount
    939

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Rian Carver
    Rian Carver

    Listing agent Rian Carver License #3069534

    Listing office FINE PROPERTIES 5220 Paylor Lane, SARASOTA, FL

    Listing date Aug 25, 2023

    MLS# A4580727 Listing URL

    Copyright © 2026 Sarasota Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Equestrian Land Near Lakewood Ranch

    This 36-acre property in Bradenton, Florida, presents an opportunity for equestrian enthusiasts or developers. Located less than 5 miles from I-75, the land offers a blend of rural tranquility and convenient access to amenities. The property is near Lakewood Ranch, UTC Shopping Center, Costco, Lakewood Ranch High School, LECOM, TerraNova Equestrian Center, and Rye Preserve Park, which includes 143 acres for horse riding and hiking. The current zoning is Agricultural, with a future use designation of Urban Fringe 3 (3 units/acre). The site features majestic oaks, pastures, and a lake. Preliminary studies are available to potential buyers. The property includes a 4-acre privately owned access road, 16th Drive, and consists of 5 parcels. Options for the property include creating an equestrian facility, building a dream home on the existing 16.5-acre parcel and selling three subdivided five-acre parcels, or developing an exclusive residential community. The location is north of State Road 64 and the Rye Road Roundabout, providing access to Bradenton, Sarasota, Lakewood Ranch, and Tampa, as well as shopping, beaches, and airports.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    Hair Salon Real Estate Agency Kitchen & Bath Showroom Storage Facility Accounting Firm Bar & Pub Garden Center Department Store Cafe & Coffee Shop (Bike/Boat/Book/etc) Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Bradenton
    County
    Manatee
    State
    Florida
    Longitude
    -82.390172
    Latitude
    27.48492

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    FAQs

    What type of property is this?
    Horse & equestrian property - 36-acre Bradenton land suitable for equestrian or residential development.
    Where is this horse & equestrian property located?
    The property is located at 15057 16TH DRIVE E Bradenton, FL.
    What is the asking price?
    The asking price for this property is $5,250,000.
    What are key features of this property?
    This property features: 36‑acre property ideal for equestrian enthusiasts or development.; Prime location less than 5 miles from I‑75, near Lakewood Ranch amenities, UTC Shopping Center, Costco, and Lakewood Ranch High School.; Multiple options: equestrian facility, build and sell subdivided parcels, or develop an exclusive community.
    (941) 782-0000
    We can help!
    Listing Contact
    Rian Carver
    Rian Carver
    Real Estate License ID: 3069534
    Learn More
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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
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