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    The Largest CRE Database in the US with Over 1 Million Listings

    3731 SE 117Th Ter Morriston, FL 32668

    Sponsored
    For Sale
    $376,000

    Farm - MORRISTON, FL

    Type:Farm
    Property size:
    840 SF
    Lot size:
    15.67 Acres
    Days on Market:
    13
    Last Refresh:
    Jan 24 at 6:06 pm

    Property Features for 3731 SE 117Th Ter

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Active
    Zoning
    AG/RR
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Kitchen, Living Room
    Bedrooms
    3
    Bathrooms
    3
    APN
    06777-014-00
    Parking features
    Carport
    Interior features
    Living Room/Dining Room Combo, Primary Bedroom Main Floor, Split Bedroom
    Exterior features
    Fencing, Private Mailbox
    Fencing
    Fenced
    Appliances
    Refrigerator
    Size
    840 SF
    Lot size
    15.67 Acres

    Building Details

    Year built
    1985
    Flooring type
    Laminate
    Building materials
    Metal Siding
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Dale McCurdy

    Harriett Downs Real Estate LLC (352) 528-4400

    Listing agent Dale McCurdy (352) 528-4400 License #3515739

    Listing date Jan 12, 2026

    MLS# OM709464 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 Farm with Great Pastures

    This 15.67-acre farm features pastures with three-board fencing in one paddock and wire perimeter fencing around the entire property. The farm includes a remodeled single-wide mobile home with 2 bedrooms and 2 bathrooms, featuring new kitchen cabinets, countertops, refrigerator, range, fresh paint, new electric, and laminate flooring throughout. A 5-year-old metal roof has been installed. The mobile home does not have A/C. The well was replaced in July 2025. There are two septic systems, one for the mobile home and one for the accessory dwelling home, which includes 2 lofts, 1 bedroom, and 1 bathroom, suitable as a mother-in-law suite, guest house, or farmhand quarters. Duke Energy provides electric service, and high-speed internet is available via Central Florida Broadband. Verizon provides cell service in the area. Behind the home is a carport with dryer and washer hookups and an RV hookup; the well is located directly behind it. A large 17' x 36' center-aisle barn includes 3 stalls and a tack room. The property is located near Blk. Prong, Goethe State Forest, the World Equestrian Center (WEC) in Ocala, and Horses In The Sun (HITS) near Williston, FL, and is within 30 minutes of Ocala, Williston, and Gainesville. The property is high and dry, with no HOA and no flood zone. The property is zoned AG/RR.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Suggested Use

    Restaurant Auto Repair Shop Garden Center Steakhouse

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

    Location Insight

    • Map
    • Local Demand
    City
    Morriston
    County
    Levy
    State
    Florida
    Longitude
    -82.57746279
    Latitude
    29.28025175

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    FAQs

    What type of property is this?
    Farm - 15.67 acre farm with remodeled mobile home and accessory dwelling.
    Where is this farm located?
    The property is located at 3731 SE 117Th Ter Morriston, FL.
    What is the asking price?
    The asking price for this property is $376,000.
    What are key features of this property?
    This property features: - 15.67 acre farm featuring great pastures, perimeter fencing, and livestock potential.; - Accessory dwelling with 2 lofts, 1 bedroom, and 1 bathroom. Ideal as a mother-in-law suite or guest house.; - Large 17' x 36' center-aisle barn boasts 3 stalls and a tack room.
    (352) 528-4400
    Request Owner's contact information
    3731 SE 117Th Ter 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
    3731 SE 117Th Ter Morriston, FL 32668
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    We can help!
    Listing Contact
    Dale McCurdy
    Real Estate License ID: 3515739
    (352) 528-4400
    Learn more
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