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

    42415 Big Oak Rd Altoona, FL 32702

    Sponsored
    For Sale
    $420,000

    Land - ALTOONA, FL

    Lot size:
    6.30 Acres
    Days on Market:
    33
    Last Refresh:
    Feb 2 at 4:06 am

    Property Features for 42415 Big Oak Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    AE
    APN
    32-17-27-0003-000-03300
    Exterior features
    Fencing
    Fencing
    Fenced
    Lot size
    6.30 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jon Grimstad

    LPT Realty, LLC. (877) 366-2213

    Listing agent Jon Grimstad (877) 366-2213 License #3556822

    Listing date Jan 1, 2026

    MLS# V4944466 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

    Altoona Land with Barn Living

    Located in Altoona, Florida, this 6.3-acre parcel in Lake County offers a versatile piece of land. Situated on Big Oak Road, the property combines privacy and natural surroundings. The existing barn includes a finished 1-bedroom, 1-bathroom living space, complete with air conditioning and full utilities. With utilities already in place, including electric and water, the property is ready for development. Zoned AE, the property supports a range of uses including residential construction, small-scale farming, equestrian facilities, or a private retreat. The zoning allows for single-family residences, accessory buildings, livestock, and other agricultural activities. The land features a blend of open clearings and wooded areas, offering both usable space and natural privacy. The terrain is primarily level and has road frontage on Big Oak Road. The property has a well and septic system. There is no HOA and no known deed restrictions. Nearby public schools include Umatilla Elementary School, Umatilla Middle School, and Umatilla High School. The property is also a short drive from the Ocala National Forest, Alexander Springs, and multiple nearby lakes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Agricultural land

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Hotel & Motel Auto Parts Store Department Store Kitchen & Bath Food Market Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Altoona
    County
    Lake
    State
    Florida
    Longitude
    -81.639065
    Latitude
    28.966822

    Nearby Similar for Sale

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    • $420,000
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      Altoona Farm with Finished Barn

      6.3-acre Altoona, Florida parcel with barn and living space.
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    FAQs

    What type of property is this?
    Agricultural land - 6.3-acre Altoona, Florida parcel with barn and living space.
    Where is this agricultural land located?
    The property is located at 42415 Big Oak Rd Altoona, FL.
    What is the asking price?
    The asking price for this property is $420,000.
    What are key features of this property?
    This property features: - Existing barn with finished 1-bedroom, 1-bathroom living space, including air conditioning and full utilities.; - 6.3-acre parcel with utilities (electric and water), well and septic already in place.; - Zoned AE, allowing for residential construction, small-scale farming, equestrian facilities, and other agricultural activities.
    (877) 366-2213
    Request Owner's contact information
    42415 Big Oak Rd Altoona, FL 32702
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    Altoona, FL 32702
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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
    42415 Big Oak Rd Altoona, FL 32702
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    We can help!
    Listing Contact
    Jon Grimstad
    Real Estate License ID: 3556822
    (877) 366-2213
    Learn more
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