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    5-Acre Ready-to-Build Geneva Oasis Title is generated by Realmo AI

    2321 WACCASSA STREET, Geneva, FL 32732

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    Claim this Listing
    For Sale
    $279,000

    Land - GENEVA, FL

    Lot size:
    5.02 Acres
    Added:
    Mar 7, 2026
    Days on Market:
    73
    Last Refresh:
    May 19 at 2:06 am

    Property Features for 2321 WACCASSA STREET

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    A-5
    Pets allowed
    Yes
    Standard status
    Active
    APN
    01-20-32-3AP-001Z-0000
    Lot size
    5.02 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    728.98

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jorge Zea
    Jorge Zea

    Listing agent Jorge Zea License #3015804

    Listing office BLUE LIGHTHOUSE REALTY INC 2234 N Federal Hwy, BOCA RATON, FL

    Listing date Mar 7, 2026

    MLS# O6388727 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.

    HighLights

    • 5.02‑acre buildable parcel with well, septic, and underground power (30/50‑amp RV hookup) already in place.
    • Impact fees are already paid, saving significant time and money on new construction.
    • Zoned A5, allowing for livestock, agricultural buildings, custom build or manufactured home.
    • Located in Flood Zone X (high and dry).
    • High‑speed internet options (Spectrum 1G or Starlink) available.
    • Proximity to St. Johns River boat ramps, wilderness trails, and top‑rated Seminole County schools.

    Overview

    This 5.02-acre parcel in Geneva offers a blend of rural tranquility and modern convenience. The property is high, dry, cleared, and located in Flood Zone X. It includes an established well, septic system, and underground power routed to a 30/50-amp RV hookup. Zoned A5 in Seminole County, the land is suitable for livestock, agricultural buildings, a custom build, or a new manufactured home. Impact fees are already paid. High-speed Spectrum (1G) or Starlink internet are available. The property is near St. Johns River boat ramps and local wilderness trails. It is located within the Grade A Seminole County School District and a short drive to the dining and shopping of Oviedo and Sanford. An existing non-habitable mobile home is present on the property and is to be removed by the buyer.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Suggested Use

    Real Estate Agency Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Electronics & Wireless Store Travel Agency Pet Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Geneva
    County
    Seminole
    State
    Florida
    Longitude
    -81.081859
    Latitude
    28.769061

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    FAQs

    What type of property is this?
    Agricultural land / Farmland - 5.02-acre buildable parcel in Geneva with paid impact fees.
    Where is this agricultural land / farmland located?
    The property is located at 2321 WACCASSA STREET Geneva, FL.
    What is the asking price?
    The asking price for this property is $279,000.
    What are key features of this property?
    This property features: 5.02‑acre buildable parcel with well, septic, and underground power (30/50‑amp RV hookup) already in place.; Impact fees are already paid, saving significant time and money on new construction.; Zoned A5, allowing for livestock, agricultural buildings, custom build or manufactured home.
    (786) 268-9772
    We can help!
    Listing Contact
    Jorge Zea
    Jorge Zea
    Real Estate License ID: 3015804
    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.

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    2321 WACCASSA STREET, GENEVA, FL 32732
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