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    4700 NW 157Th Ct Morriston, FL 32668

    View on Map
    Sponsored
    For Sale
    $2,400,000

    Farm - MORRISTON, FL

    Type:Farm
    Property size:
    2,410 SF
    Lot size:
    27.00 Acres
    Days on Market:
    1
    Last Refresh:
    Mar 9 at 8:06 pm

    Property Features for 4700 NW 157Th Ct

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Active
    Security features
    Smoke Detector(s)
    Zoning
    A1
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Kitchen, Living Room
    Bedrooms
    3
    Bathrooms
    2
    APN
    12236-001-00
    Parking features
    Carport, Garage, Workshop
    Pool private
    1
    Interior features
    Ceiling Fans(s), Primary Bedroom Main Floor, Split Bedroom, Vaulted Ceiling(s), Walk-in Closet(s)
    Exterior features
    Fencing, Misting System, Outdoor Shower, Sliding Doors, Storage, Pool
    Fencing
    Fenced
    Appliances
    Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
    Size
    2,410 SF
    Lot size
    27.00 Acres

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    2004
    Flooring type
    Tile
    Building materials
    Concrete, Stucco
    Roof type
    Shingle
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Mary O'Neal
    Mary O'Neal

    Showcase Properties of Central Florida (352) 351-4718

    Listing agent Mary O'Neal (352) 351-4718 License #3090915

    Listing date Mar 9, 2026

    MLS# OM719562 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 Horse Farm on 27 Acres

    Located in Marion County, this 27-acre horse farm features space and functionality for equestrians. The property is fenced and gated with board and cross fencing, accessed via a long, winding driveway leading to the main areas. It is situated 12 minutes from HITS and 20 minutes from the World Equestrian Center (WEC). Two residences are on the property: a 3-bedroom, 2-bath main home with approximately 2,410 square feet of living space, and an additional farm manager or guest home. The main home has a split-bedroom layout with vaulted ceilings, tile flooring, and a kitchen with a full appliance package including a range, refrigerator, microwave, dishwasher, washer, and dryer. The primary suite includes a walk-in closet and a spacious bath, with sliding doors leading to a screened rear porch. There are five 16x16’ stalls, each with its own walled, covered structure that features water access, gates, and red clay lining topped with bedding shavings. Each paddock includes water and misting systems, with gated catch/feed pens and covered run-in sheds in the larger back pastures. A concrete barn structure with a clean area for vets is in place, complete with a utility sink, hot and cold water station, electrical, lighting, and fans. An additional round-pen is available for training. There is open land that could be further developed for an arena, additional paddocks, or a formal barn. Feed, hay, and supplies are contained within a protected covered barn structure next to the workshop area. The workshop/garage is a tall structure with 3 bays with secure roll-top doors, ventilated with lighting, and includes water and electric (220 amp panel).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    Veterinary Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Morriston
    County
    Levy
    State
    Florida
    Longitude
    -82.384607
    Latitude
    29.236755

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    FAQs

    What type of property is this?
    Horse & equestrian property - Well-appointed horse farm with two residences near equestrian venues.
    Where is this horse & equestrian property located?
    The property is located at 4700 NW 157Th Ct Morriston, FL.
    What is the asking price?
    The asking price for this property is $2,400,000.
    What are key features of this property?
    This property features: - Prime Location: Just 12 minutes from HITS and 20 minutes from the World Equestrian Center (WEC).; - 27-acre horse farm featuring 5 stalls, paddocks with water and misting systems, and a round pen.; - Two residences including a 3-bedroom, 2-bath main home and a separate guest/farm manager home.
    (352) 351-4718
    Request Owner's contact information
    4700 NW 157Th Ct 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
    4700 NW 157Th Ct Morriston, FL 32668
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    We can help!
    Listing Contact
    Mary O'Neal
    Mary O'Neal
    Real Estate License ID: 3090915
    (352) 351-4718 (352) 553-7324
    Learn more
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