Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    7670 NW 137TH AVENUE Morriston, FL 32668

    View on Map
    Claim this Listing
    For Sale
    $795,000

    Land - MORRISTON, FL

    Lot size:
    25.04 Acres
    Added:
    Feb 6, 2025
    Days on Market:
    427
    Last Refresh:
    Apr 9 at 1:06 pm

    Property Features for 7670 NW 137TH AVENUE

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    A1
    Pets allowed
    Yes
    Standard status
    Active
    APN
    12449-001-00
    Lot size
    25.04 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    5217

    Utilities

    Water front features
    Pond, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Robert Arnold, Jr

    Listing agent Robert Arnold, Jr License #627826

    Listing office SAND DOLLAR REALTY GROUP INC 801 W State Road 436 Ste 2065, Altamonte Springs, FL

    Listing date Feb 6, 2025

    MLS# O6278217 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.

    Overview

    25 Acres in Horse Country

    This 25.04-acre property is located in the heart of horse country, offering a place to build a private estate. Situated on a paved road and surrounded by farms, the land features privacy, rich soil, and a pond. A working well is present on the property. The land is partially cleared, with areas of old forest and riding trails. The property has existing natural buffer of trees, open spaces, and several building sites. Stately oaks are in place, and ancient oaks are located throughout the land. The zoning is A1. The property is located near HITS.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Suggested Use

    Real Estate Agency Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Morriston
    County
    Levy
    State
    Florida
    Longitude
    -82.3500033
    Latitude
    29.2676449

    Nearby Similar for Sale

    • $469,900

      Wooded Land with Mobile Home

      19.53 acres with mobile home near Dunnellon and Ocala.
      20140 NW 27TH STREET, MORRISTON, FL 32668
      View Details
    • $779,000
      4,394 SF

      Equestrian Farm Ready to Go

      Turn-key equestrian farm with multi-generational home on 5.85 acres.
      1351 SE 196TH COURT, MORRISTON, FL 32668
      View Details
    • $469,000
      1,590 SF

      5-Acre Countryside Retreat

      5-acre property with a 3-bed, 2-bath home and pool.
      5130 SE 137TH AVENUE, MORRISTON, FL 32668
      View Details
    • $599,000
      1,603 SF

      Equestrian Farm in Steeplechase

      Turnkey 5-acre farm with equestrian amenities and spacious shop.
      2351 SE 114TH AVENUE, MORRISTON, FL 32668
      View Details
    • $450,000
      2,320 SF

      Former Saloon on Highway 41

      2.5 acres with indoor/outdoor bar, mobile home, outbuildings.
      2451 SE HIGHWAY 41, MORRISTON, FL 32668
      View Details
    • $1,295,000
      2,936 SF

      Morriston 40-Acre Gentleman's Farm

      Exceptional farm in Florida's 'Black Belt' with lush pastures.
      10880 NW 160TH AVENUE, MORRISTON, FL 32668
      View Details
    • $1,475,000
      1,400 SF

      Turnkey Show Farm in Morriston

      Equestrian property on 10 acres near HITS and WEC.
      21051 SE 42ND STREET, MORRISTON, FL 32668
      View Details
    • $575,000
      2,726 SF

      Equestrian Farmhouse Near Ocala

      Charming farmhouse on 6+ acres, equestrian-ready near Ocala.
      13651 SE 73RD LANE, MORRISTON, FL 32668
      View Details
    • $2,400,000
      2,410 SF

      Equestrian Property in Horse Country

      Well-equipped equestrian property near Ocala's premier competition venues.
      4700 NW 157TH COURT, MORRISTON, FL 32668
      View Details
    • $1,498,000
      2,755 SF

      Morriston Equestrian Paradise Farm Estate

      Equestrian estate on 10 acres with barns and modern amenities.
      4750 SE 216th Ave, Morriston, FL 32668
      View Details
    • $565,000

      Morriston Land Near HITS Stadium

      10 acres of vacant land near HITS Stadium and Showgrounds.
      8245 NW 137TH AVENUE, MORRISTON, FL 32668
      View Details
    • $2,000,000
      2,736 SF

      Equestrian Estate Under Construction

      Luxury equestrian estate with barn and residence, near WEC.
      7824 NW 167TH COURT, MORRISTON, FL 32668
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - Gorgeous 25-acre land parcel in the heart of horse country.
    Where is this agricultural land / farmland located?
    The property is located at 7670 NW 137TH AVENUE Morriston, FL.
    What is the asking price?
    The asking price for this property is $795,000.
    What are key features of this property?
    This property features: 25 acres in the heart of horse country, ideal for building a private estate.; Includes a pond and a working well.; Located on a paved road near HITS, surrounded by stunning farms.
    (407) 389-7318
    We can help!
    Listing Contact
    Robert Arnold, Jr
    Real Estate License ID: 627826
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!