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    2351 SE 114Th Ave Morriston, FL 32668

    Sponsored
    For Sale
    $649,990

    Farm, Custom - MORRISTON, FL

    Type:Farm
    Property size:
    1,603 SF
    Lot size:
    5.00 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 26 at 3:06 am

    Property Features for 2351 SE 114Th Ave

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Active
    Zoning
    0100
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Kitchen, Laundry, Living Room
    Bedrooms
    3
    Bathrooms
    2
    APN
    20009-000-00
    Parking features
    Boat, Carport, Covered, Driveway, Garage, Garage - Attached, Guest, Open, Oversized, Underground/Basement
    Pets allowed
    Cats OK, Dogs OK
    Pool private
    1
    Interior features
    Ceiling Fans(s), Eat-in Kitchen, Solid Surface Counters, Solid Wood Cabinets, Split Bedroom, Stone Counters, Walk-in Closet(s), Window Treatments
    Exterior features
    Paved, Fencing, French Doors, Kennel, Outdoor Grill, Rain Gutters, Sidewalk, Storage, Pool
    Fencing
    Fenced
    Fireplace
    1
    Appliances
    Dishwasher, Dryer, Freezer, Microwave, Range, Refrigerator, Washer, Water - Softener
    Size
    1,603 SF
    Lot size
    5.00 Acres

    Utilities

    Heating system
    Central, Electric (Heating), Fireplace(s)
    Cooling system
    Central Air

    Building Details

    Year built
    2005
    Flooring type
    Carpet, Tile
    Building materials
    Block, Concrete
    Roof type
    Shingle
    Architectural style
    Other
    Additional Structures
    Storage
    BuilderName
    Reed Homes of Central Fl, INC

    We can help!

    Listing Contact
    Clarissa Rainey

    LPT Realty, LLC. (877) 366-2213

    Listing agent Clarissa Rainey (877) 366-2213 License #3348006

    Listing date Feb 25, 2026

    MLS# G5108688 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

    Equestrian Farm with Workshop

    Located in the Steeplechase equestrian community, this 5-acre farm is equipped for horse enthusiasts. The property is fully fenced with a remote-controlled gate and horse wire combination. It provides direct access for horse and carriage driving to Black Prong Equestrian Village and Goethe State Forest, which features over 100 miles of trails. The residence includes a split floor plan, solid wood cabinetry, upgraded appliances, and French doors. Additional square footage has been added to the master bedroom and garage. A screened lanai contains a solar-heated inground pool. A pet door offers convenient access for pets to the outside pool area. The property features a 40 x 60 shop with an office area, rolling metal doors, and a covered rear area suitable for equipment or hay storage. A lean-to can be converted into horse stalls or a barn. The attached garage provides vehicle and storage space. Additional features include a dog kennel, a full-house Generac generator, a complete irrigation system, a water softener, a carport, and two storage sheds. The home has a new roof as of 2026. The property is located between Gainesville and Ocala, with access to the World Equestrian Center and HITS.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Suggested Use

    Law Firm Department Store Storage Facility Garden Center Bakery

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

    Location Insight

    • Map
    • Local Demand
    City
    Morriston
    County
    Levy
    State
    Florida
    Longitude
    -82.582886
    Latitude
    29.299921

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    FAQs

    What type of property is this?
    Farm - Turnkey 5-acre farm with workshop, pool, and equestrian amenities.
    Where is this farm located?
    The property is located at 2351 SE 114Th Ave Morriston, FL.
    What is the asking price?
    The asking price for this property is $649,990.
    What are key features of this property?
    This property features: - Turnkey 5-acre equestrian property with direct access to Black Prong Equestrian Village and Goethe State Forest trails.; - Large 40 X 60 shop with office, rolling metal doors, covered rear area, and lean-to (convertible to horse stalls).; - Enjoy the inground pool with solar heating within a large screened lanai.
    (352) 266-0982
    Request Owner's contact information
    2351 SE 114Th Ave Morriston, FL 32668
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    Morriston, FL 32668
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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
    2351 SE 114Th Ave Morriston, FL 32668
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    We can help!
    Listing Contact
    Clarissa Rainey
    Real Estate License ID: 3348006
    (352) 266-0982 (352) 259-4900 (877) 366-2213
    Learn more
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