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    Two Development Projects in Marion County Title is generated by Realmo AI

    11965 SE US Hwy 301, Belleview, FL 34420

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    Two manufactured housing development projects in fast-growing Marion County.

    Type:Land, Multifamily
    Property size:
    1,500 SF
    Lot size:
    15.77 Acres
    Price / SF:
    $1,663/SF
    Added:
    Dec 23, 2025
    Days on Market:
    159
    Last Refresh:
    Mar 17 at 1:19 pm

    Property Features for 11965 SE US Hwy 301

    General Information

    Standard status
    Active
    Size
    1,500 SF
    Lot size
    15.77 Acres
    Property subtype
    Land, Multifamily

    We can help!

    Listing Contact
    Jon Fisher
    Jon Fisher

    Listing agent Jon Fisher License #IA B68919000

    Listing office Mr. Landman

    Listing date Dec 23, 2025

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Mr. Landman

    HighLights

    • Shovel‑ready Belleview project with signed permits and utilities in place for immediate development.
    • High‑growth Marion County location, minutes from The Villages.
    • Combined 80 planned double‑wide homesites across two projects.
    • Significant value upside with a pro forma $8M estimated value.
    • Summerfield project with approved concept plan and utilities.
    • Flexible exit strategies including land‑lease, home sales, and/or rentals.

    Overview

    Two manufactured housing development projects are available in Marion County, located minutes from The Villages. The properties, offered together, include 80 planned double-wide homesites on 15.77 acres across Belleview and Summerfield, Florida. The Belleview project, located at 11987 S US Hwy 301, Belleview, FL 34420, features 31 pads on a PMH-zoned site. This shovel-ready site is fully entitled with signed permits, public water and sewer, Duke Energy, and frontage on US-301. An existing ~1,500 sq ft home is present, suitable for a future clubhouse. The Summerfield project, located at 9345 SE 140th Pl, Summerfield, FL 34491, includes 49 pads on a 10-acre cleared site with public utilities. The site is PMH-zoned with an approved concept plan, near US-441 and The Villages. These sites are approximately 10 minutes apart, allowing for shared crews, staging, home orders, and management to reduce per-pad construction and operating costs. A phased strategy is possible to stabilize Belleview first and potentially refinance it to help fund infrastructure and home rollout at Summerfield. Flexible exit options include land-lease, home sales, and/or rentals.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Belleview
    County
    Marion
    State
    Florida
    Longitude
    -82.044525
    Latitude
    29.048267

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    FAQs

    What type of property is this?
    Commercial land - Two manufactured housing development projects in fast-growing Marion County.
    Where is this commercial land located?
    The property is located at 11965 SE US Hwy 301 Belleview, FL.
    What is the asking price?
    The asking price for this property is $2,495,000.
    What are key features of this property?
    This property features: Shovel‑ready Belleview project with signed permits and utilities in place for immediate development.; High‑growth Marion County location, minutes from The Villages.; Combined 80 planned double‑wide homesites across two projects.
    (217) 202-0924 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jon Fisher
    Jon Fisher
    Real Estate License ID: IA B68919000
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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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    11965 SE US Hwy 301, Belleview, FL 34420
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