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    Residential Land in Rainbow Lakes Title is generated by Realmo AI

    0 SW SHOREWOOD DRIVE, Dunnellon, FL 34431

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    Claim this Listing
    For Sale
    $38,000

    Land - DUNNELLON, FL

    Lot size:
    0.34 Acres
    Added:
    May 11, 2026
    Days on Market:
    27
    Last Refresh:
    Jun 6 at 7:06 am

    Property Features for 0 SW SHOREWOOD DRIVE

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R1
    Standard status
    Active
    APN
    1813-002-390
    Lot size
    0.34 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    358.62

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Alexandra Walker

    Listing agent Alexandra Walker License #3466944

    Listing office KELLER WILLIAMS REALTY- PALM H 30522 US HWY 19 N, Suite 107, Palm Harbor, FL

    Listing date May 11, 2026

    MLS# TB8507470 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.

    HighLights

    • Access to Rainbow Lakes Estates Municipal Services District amenities: lakes, parks, docks, picnic areas, and recreation facilities for fishing, kayaking, and hiking.
    • R1‑zoned residential parcel suitable for site‑built homes or DCA‑approved modular construction (no mobile homes).
    • No HOA fees.
    • Convenient location near Rainbow Springs State Park, the Withlacoochee River, and Dunnellon, with easy access to Ocala.
    • Electric service available to the lot.
    • Peaceful, wooded setting in a nature‑rich community.

    Overview

    This 0.34-acre residential parcel, zoned R1, is located in Rainbow Lakes Estates in Marion County, Florida, offering an opportunity for a single-family home site. Permitted uses include site-built homes or DCA-approved modular construction. Electric service is available to the lot, while a private well and septic system will be required. Residents of Rainbow Lake Estates have access to community amenities through the Rainbow Lakes Estates Municipal Services District, including lakes, parks, docks, picnic areas, and recreation facilities suitable for fishing, kayaking, hiking, and outdoor relaxation. There are no HOA fees. The property is located near Rainbow Springs State Park, the Withlacoochee River, and the town of Dunnellon, with convenient access to Ocala, major roadways, shopping, and dining. This wooded setting offers rural Florida living.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Dunnellon
    County
    Citrus
    State
    Florida
    Longitude
    -82.516909
    Latitude
    29.138058

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    FAQs

    What type of property is this?
    Residential land & home lot - Residential parcel for a single-family home near Rainbow Springs.
    Where is this residential land & home lot located?
    The property is located at 0 SW SHOREWOOD DRIVE Dunnellon, FL.
    What is the asking price?
    The asking price for this property is $38,000.
    What are key features of this property?
    This property features: Access to Rainbow Lakes Estates Municipal Services District amenities: lakes, parks, docks, picnic areas, and recreation facilities for fishing, kayaking, and hiking.; R1‑zoned residential parcel suitable for site‑built homes or DCA‑approved modular construction (no mobile homes).; No HOA fees.
    (727) 326-4806
    We can help!
    Listing Contact
    Alexandra Walker
    Real Estate License ID: 3466944
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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.

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