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    Old Pasco Rd Wesley Chapel, FL 33544

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    For Sale
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    64 acres of agricultural land with future development potential.

    Lot size:
    64.00 Acres

    Property Features for Old Pasco Rd

    General Information

    Lot size
    64.00 Acres

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    Listing Contact
    Jesse King
    Source: Corfac

    Listing Agency: First Capital Property Group Listing Agent: Jesse King

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

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    Overview

    64 Acres Agricultural Land Opportunity

    This 64-acre parcel is zoned for Agriculture (AC) with a Future Land Use (FLU) designation that currently allows 3 units per acre. A New Urban Overlay update, scheduled to take effect in 2025, will permit 6 units per acre by right. The property is located approximately 1 mile from the planned Double Branch mixed-use development, which is expected to bring 6,000 jobs and a $600 million economic impact to San Antonio, featuring 4 million square feet of industrial space, 400,000 square feet of retail, 3,500 housing units, and a 300-bed hotel. The site is within walking distance of Cypress Middle School and High School, both graded "A". It offers convenient access to I-75, providing a drive of less than 30 minutes to Downtown Tampa. Additionally, the property is located 1 mile from the planned 365,000 square foot John Hopkins All Children’s Hospital and across I-75 from the planned 7,800-acre “Connected City,” which anticipates 96,000 residents in 37,000 housing units and the creation of 65,000 jobs over the next 50 years.
    Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Map

    City
    Wesley Chapel
    County
    Pasco
    State
    Florida
    Longitude
    -82.355475
    Latitude
    28.248059

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    FAQs

    What type of property is this?
    Agricultural land / Farmland - 64 acres of agricultural land with future development potential.
    Where is this agricultural land / farmland located?
    The property is located at Old Pasco Rd Wesley Chapel, FL.
    What are key features of this property?
    This property features: - High-density development potential: Zoned Agriculture (AC) with Future Land Use (FLU) allowing 3 units/acre, increasing to 6 units/acre by right in 2025 under New Urban Overlay.; - Proximity to Double Branch mixed-use development: Located ±1 mile away, offering 6,000 jobs and a $600M economic impact.; - Strategic location near major developments: Across I-75 from the planned 7,800-acre "Connected City" with projected 96,000 residents and 65,000 jobs.
    (407) 872-0209
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    Old Pasco Rd Wesley Chapel, FL 33544
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    Wesley Chapel, FL 33544
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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.

    More about this property
    Old Pasco Rd Wesley Chapel, FL 33544
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    We can help!
    Listing Contact
    Jesse King
    Real Estate License ID: SL3545010
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