Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Residential Land in Spring Hill Title is generated by Realmo AI

    11121 Captain Drive, Spring Hill, FL 34608

    View on Map
    Claim this Listing
    Pending
    $63,500

    LAND - Spring Hill, FL

    Lot size:
    0.30 Acres
    Added:
    May 19, 2026
    Days on Market:
    16
    Last Refresh:
    Jun 3 at 3:06 am

    Property Features for 11121 Captain Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    PDP
    Standard status
    Pending
    APN
    R32 323 17 5090 0516 0140
    Lot size
    0.30 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    638

    Utilities

    Utilities
    Cable Available

    We can help!

    Listing Contact
    Frances Meyer

    Listing agent Frances Meyer License #3128842

    Listing office REMAX Marketing Specialists 3377 Mariner Blvd, Spring Hill, FL

    Listing date May 19, 2026

    MLS# 2259421 Listing URL

    Copyright © 2026 Hernando County Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Great Location on Major Hwy
    • Rustic and Ready
    • Various types of businesses will fit
    • Over 2 Acres
    • Fully furnished with equipment, tables, chairs etc.
    • Turn Key Operations

    Overview

    This 0.32-acre corner lot presents an opportunity to build a home in an established area of Spring Hill, Florida, near Brooksville. The location has no HOA, CDD, or flood risk. Shopping and dining options are conveniently located nearby. Recreational opportunities are available at Weeki Wachee, Pine Island Park, and Roger's Park. The Suncoast Parkway provides access to the airport, Tampa, Clearwater, and St. Pete Beaches, as well as the Tarpon Springs Sponge Docks. The location provides access to the Downtown Riverwalk, beaches, boating, fishing, golfing, cultural entertainment, and museums.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Spring Hill
    County
    Pasco
    State
    Florida
    Longitude
    -82.542694
    Latitude
    28.464593

    Nearby Similar for Sale

    • $1,799,000
      3,327 SF

      Assisted Living Facility For Sale

      Newly constructed assisted living facility with expansion potential.
      13031 PARTRIDGE STREET, SPRING HILL, FL 34608
      View Details
    • $6,995,000
      14,953 SF

      Premium Car Wash Investment Opportunity

      High-visibility car wash and detail center with additional income-producing buildings.
      1108 Commercial Way, Spring Hill, FL 34606
      View Details
    • $495,000
      1,943 SF

      Medical/Retail Office in Prime Location

      Freestanding medical/retail office building in a high-traffic area.
      11151 SPRING HILL DRIVE, SPRING HILL, FL 34609
      View Details
    • $775,000
      121,968 SF

      Prime Commercial Land Opportunity

      2.9-acre commercial parcel in high-growth area near Suncoast Parkway.
      0000 COUNTY LINE ROAD, SPRING HILL, FL 34609
      View Details
    • $3,700,000

      Commercial Land Near Growing Intersection

      6.9 acres of vacant commercial land in Spring Hill.
      QUALITY DRIVE, SPRING HILL, FL 34608
      View Details
    • $4,400,000
      14,978 SF

      Silverthorn Golf Course Opportunity

      Premier 18-hole championship golf course on nearly 200 acres.
      4460 GOLF CLUB LANE, SPRING HILL, FL 34609
      View Details
    • $4,400,000
      14,978 SF

      Silverthorn Golf Course Opportunity

      Premier 18-hole golf course on nearly 200 acres in Florida.
      4460 GOLF CLUB LANE, SPRING HILL, FL 34609
      View Details
    • $3,200,000
      3,500 SF

      Towing Business with Real Estate

      Towing and recovery business with real estate for sale.
      13818 & 13836 US HIGHWAY 41, SPRING HILL, FL 34610
      View Details
    • $355,000
      2,020 SF

      Spring Hill Duplex For Sale

      Duplex on 0.23 acres with rental income potential.
      1284 London Avenue, Spring Hill, FL 34606
      View Details
    • $355,000
      2,020 SF

      Spring Hill Duplex with Income Potential

      Duplex in Spring Hill near parks and amenities.
      1284 LONDON AVENUE, SPRING HILL, FL 34606
      View Details
    • $6,995,000
      6,500 SF

      Premium Car Wash Investment Opportunity

      Full-service car wash and detail center with income-producing commercial buildings.
      1108 COMMERCIAL Way, Spring Hill, FL 34606
      View Details
    • $1,800,000

      Assisted Living Facility Development Opportunity

      4.6-acre parcel for Assisted Living Facility development in Spring Hill.
      15022 GAR STREET, SPRING HILL, FL 34609
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 0.32-acre corner lot in established Spring Hill area.
    Where is this residential land & home lot located?
    The property is located at 11121 Captain Drive Spring Hill, FL.
    What is the asking price?
    The asking price for this property is $63,500.
    What are key features of this property?
    This property features: Great Location on Major Hwy; Rustic and Ready; Various types of businesses will fit
    (352) 686-0540
    We can help!
    Listing Contact
    Frances Meyer
    Real Estate License ID: 3128842
    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

    Thank You for Inquiry
    11121 Captain Drive, Spring Hill, FL 34608
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!