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

    SW ML KING JR DRIVE Madison, FL 32340

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Land - MADISON, FL

    Lot size:
    0.23 Acres
    Added:
    May 22, 2025
    Days on Market:
    342
    Last Refresh:
    Apr 28 at 9:06 pm

    Property Features for SW ML KING JR DRIVE

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RESI
    Standard status
    Active
    APN
    28-1N-09-3909-000-000
    Lot size
    0.23 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    163.25

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Milan Candela

    Listing agent Milan Candela License #3505531

    Listing office LOKATION 1500 E. Atlantic Blvd., Pompano Beach, FL

    Listing date May 22, 2025

    MLS# TB8389203 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

    Corner Lot in Madison, FL

    This vacant corner lot is located in Madison, Florida. The lot measures 11,000 square feet and is zoned R2, allowing for the construction of either a single-family home or a duplex. Situated at the corner of MLK Jr. Drive and SW Smith, the property is located one mile south of the main road, which features local stores, restaurants, and gas stations. It also provides convenient access to I-10. This property presents an opportunity for building a home or creating an investment property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Madison
    County
    Madison
    State
    Florida
    Longitude
    -83.419924
    Latitude
    30.4665

    Nearby Similar for Sale

    • $525,000

      Turnkey Restaurant Property in Madison, FL

      Fully equipped restaurant with highway frontage and flexible future use.
      5806 NE Colin Kelly Highway, Madison, FL 32340
      View Details
    • $235,000

      Turnkey Bar and Grill Business

      Thriving bar and grill with licenses and equipment included.
      8144 S CR 53, Madison, FL 32340-0000
      View Details
    • $145,000
      11,381 SF

      Downtown Madison Two-Story Commercial Building

      Two-story commercial building in downtown Madison, Florida, with development potential.
      179 E BASE STREET, Madison, FL 32340
      View Details
    • $460,000

      47 Acres in Madison County

      Multi-use property ideal for farming, homesteading, hunting, or ventures.
      1701 SW Moseley Hall Road, Madison, FL 32340
      View Details
    • $540,000

      Madison County Recreational and Residential Land

      216 acres in Madison County, Florida, ideal for recreation.
      8412 SW Tower Road, Madison, FL 32340
      View Details
    • $49,000

      Residential Lots Near Madison, Florida

      Two combined lots totaling 1.57 acres near Madison, Florida.
      293 NW WILLIE DEAS ROAD, Madison, FL 32340
      View Details
    • $130,000

      Prime Hunting and Recreation Land

      13 acres of North Florida land perfect for outdoor adventures.
      652 NW Flowers Road, Madison, FL 32340
      View Details
    • $550,000
      11,875 SF

      Established Auto Mechanic Shop For Sale

      Turn-key auto mechanic shop with real estate and equipment.
      115 SW Bunker Street, MADISON, FL 32340
      View Details
    • $49,000

      Madison, FL Residential Homesite

      2.5-acre homesite in a quiet subdivision near Madison, Florida.
      TBD NW APPALOOSA WAY, Madison, FL 32340
      View Details
    • $69,000

      Madison, FL Residential Acreage

      5.42 acre residential lot with pond frontage near Madison.
      000 NW APPALOOSA WAY, Madison, FL 32340
      View Details
    • $120,000

      12 Acres of Prime Land

      12 acres in Madison, FL, perfect for homesite or recreation.
      6511 NW Flowers Road, Madison, FL 32340
      View Details
    • $360,000

      Prime Hunting and Recreation Land

      36 acres of North Florida land perfect for outdoor adventures.
      651 NW Flowers Rd., Madison, FL 32340
      View Details

    FAQs

    What type of property is this?
    Land - Vacant corner lot suitable for single-family home or duplex.
    Where is this land located?
    The property is located at SW ML KING JR DRIVE Madison, FL.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Vacant corner lot in Madison, FL.; Zoned R2, allowing for a Single Family Home or Duplex.; Lot size: 11,000 sqft.
    (954) 545-5583
    We can help!
    Listing Contact
    Milan Candela
    Real Estate License ID: 3505531
    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!