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    198 NE Blackjack Loop Lee, FL 32059

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    LAND - Lee, FL

    Lot size:
    1.03 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 10 at 2:06 am

    Property Features for 198 NE Blackjack Loop

    General Information

    Special listing conditions
    Standard
    Property type
    Land
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Vegetation
    Cleared, Wooded
    APN
    12079-21-1N-11-6203-T56-000
    Lot size
    1.03 Acres

    Utilities

    Sewer type
    Septic Needed
    Water source
    Well Needed, Well

    Building Details

    Additional Structures
    Shed(s)

    We can help!

    Listing Contact
    Jerrod Trainer

    Jerrod A Trainer & Associates (229) 498-6324

    Listing agent Jerrod Trainer (229) 232-5327 License #3468700

    Listing date Mar 8, 2026

    MLS# 397035

    Copyright © 2026 Tallahassee Board 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.

    Learn more

    Property Insight Report

    Overview

    Land Near Withlacoochee River

    This property is a 1.03+/- acre lot located near the Withlacoochee River in Madison County, FL. It features a 16x12 building that has been converted into a furnished cabin; all items visible in the property photos are included in the sale. Power is available on the property, including a 30 amp connection for RV hookup. The lot is a mixture of cleared and wooded land, with the area around the cabin and the driveway cleared, while the rest of the land remains wooded. The property is located on a dirt road, a few minutes from the paved road. Recreational opportunities are available in the area, including fishing and boating on the Withlacoochee River, with a public boat ramp nearby. The area is also suitable for ATVs and side-by-sides. Madison Blue Spring State Park is located nearby. Mobile homes are allowed on the lot. There is no well or septic system currently in place. The property is located entirely within flood zone AE due to its proximity to the river, and an aerobic septic system may be required. Madison, FL is 20 minutes away, and Valdosta, GA is about 45 minutes away.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Recreation land

    Suggested Use

    Hair Salon Auto Repair Shop Hotel & Motel Parking Lot & Garage

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

    Location Insight

    • Map
    • Local Demand
    City
    Lee
    County
    Madison
    State
    Florida
    Longitude
    -83.230319
    Latitude
    30.466927

    Nearby Similar for Sale

    • $129,900
      1,728 SF

      Lee County Business Opportunity

      High-Visibility Commercial Space, Owner Financing Available
      3138 Corinth Church Rd, Lee, FL 32059
      View Details

    FAQs

    What type of property is this?
    Recreation land - 1.03+/- acre lot with cabin near Withlacoochee River.
    Where is this recreation land located?
    The property is located at 198 NE Blackjack Loop Lee, FL.
    What is the asking price?
    The asking price for this property is $29,400.
    What are key features of this property?
    This property features: - 1.03+/- acre lot with furnished 16x12 cabin included.; - Power in place with 30 amp RV hookup.; - Mixture of cleared and wooded land for privacy.
    (850) 869-9872
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    198 NE Blackjack Loop Lee, FL 32059
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    Lee, FL 32059
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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
    198 NE Blackjack Loop Lee, FL 32059
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    We can help!
    Listing Contact
    Jerrod Trainer
    Real Estate License ID: 3468700
    (850) 869-9872 (229) 232-5327
    Learn more
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