Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    21230 SE 55Th St Morriston, FL 32668

    Sponsored
    Picture of Land at SE 55Th St 21230, Morriston, FL
    For Sale
    $1,080,000

    Land - MORRISTON, FL

    Lot size:
    40.00 Acres
    Days on Market:
    52
    Last Refresh:
    Jan 22 at 6:06 pm

    Property Features for 21230 SE 55Th St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    A/RR
    APN
    05396-000-01
    Lot size
    40.00 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Glen Shepherd

    Busch Realty (352) 690-1909 [email protected]

    Listing agent Glen Shepherd, Jr. (352) 690-1909 License #0605407

    Listing date Dec 2, 2025

    MLS# OM714438 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

    Morriston Land Near Equestrian Center

    This approximately 40-acre property, located on NW HWY 464 in Morriston, Florida, presents opportunities for investors and developers. The location is approximately a 17-minute drive from the World Equestrian Center, making it suitable for equestrian-related businesses or a countryside retreat. The property offers options for future development and can be divided for residential, commercial, or agricultural purposes. The location is high and dry. The front and top approximately 30 acres are also available for purchase together or separately.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Morriston
    County
    Levy
    State
    Florida
    Longitude
    -82.414603
    Latitude
    29.245905

    Nearby Similar for Sale

    • $450,000
      2,320 SF

      Former Saloon on Highway 41

      2.5 acres with indoor/outdoor bar, mobile home, outbuildings on HWY 41.
      2451 Hwy 41 SE, Morriston, FL 32668
      View Details
    • New
      $2,950,000
      5,472 SF

      Turnkey Equestrian Facility Near WEC

      17-acre equestrian facility with extensive stabling and residential accommodations.
      4450 SE 216Th Ave, Morriston, FL 32668
      View Details
    • $1,800,000
      3,174 SF

      Morriston Farm with Modern Amenities

      Turnkey farm retreat with smart features and expansive amenities.
      6570 SE 175Th Ct, Morriston, FL 32668
      View Details
    • $1,790,000
      2,427 SF

      Morriston Farm Near Equestrian Centers

      9.45-acre farm near HITS/Post Time Farm and World Equestrian Center.
      14525 Highway 464B NW, Morriston, FL 32668
      View Details
    • $575,000
      2,726 SF

      Equestrian-Ready Farmhouse Near Ocala

      Charming farmhouse on 6+ acres, equestrian amenities, near Ocala.
      13651 SE 73Rd Ln, Morriston, FL 32668
      View Details
    • $959,900
      2,052 SF

      Morriston Farm with Equestrian Features

      43.8-acre farm with equestrian facilities and spacious home.
      14050 SE 50Th St, Morriston, FL 32668
      View Details
    • $999,000
      1,047 SF

      Morriston Farm in Equine Community

      20+ acre farm in gated equine community near Ocala.
      3670 SE 148Th Ter, Morriston, FL 32668
      View Details
    • $1,595,900
      2,755 SF

      Equestrian Paradise with Modern Charm

      10-acre equestrian estate featuring remodeled home, barns, and equine amenities.
      4750 SE 216Th Ave, Morriston, FL 32668
      View Details
    • $1,498,000
      2,755 SF

      Morriston Equestrian Paradise Farm Estate

      Equestrian estate on 10 acres with barns and modern amenities.
      4750 SE 216Th Ave, Morriston, FL 32668
      View Details
    • $376,000
      840 SF

      Morriston Farm with Great Pastures

      15.67 acre farm with remodeled mobile home and accessory dwelling.
      3731 SE 117Th Ter, Morriston, FL 32668
      View Details
    • New
      $1,595,000
      2,936 SF

      Morriston Equestrian Estate Opportunity

      Pristine 40-acre farm near World Equestrian Center and HITS.
      10880 NW 160Th Ave, Morriston, FL 32668
      View Details
    • $449,000
      1,092 SF

      Equestrian-Ready Farm on 5 Acres

      Charming 2BR/2BA home with equestrian facilities on 5 acres.
      6550 SE 143Rd Ct, Morriston, FL 32668
      View Details

    FAQs

    What type of property is this?
    Land - Approximately 40-acre property suitable for development near World Equestrian Center.
    Where is this land located?
    The property is located at 21230 SE 55Th St Morriston, FL.
    What is the asking price?
    The asking price for this property is $1,080,000.
    What are key features of this property?
    This property features: - Approximately 40 acres of land with development potential.; - Located just 17 minutes from the World Equestrian Center.; - Suitable for equestrian businesses, residential, commercial, or agricultural development.
    (352) 843-6763
    Request Owner's contact information
    21230 SE 55Th St Morriston, FL 32668
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    21230 SE 55Th St
    Morriston, FL 32668
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    21230 SE 55Th St Morriston, FL 32668
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Glen Shepherd
    Real Estate License ID: 0605407
    (352) 843-6763
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.