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    Secluded Pasture and Hardwood Property Title is generated by Realmo AI

    5310 Chestnut Lane, Greenwood, FL 32443

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    Claim this Listing
    For Sale
    $564,000

    20 acres pasture, 17 acres hardwoods, barn/shop, convenient location.

    Type:Land or Vacant Lot
    Lot size:
    36.66 Acres
    Added:
    Sep 7, 2024
    Days on Market:
    637
    Last Refresh:
    May 10 at 10:07 pm

    Property Features for 5310 Chestnut Lane

    General Information

    Standard status
    Active
    Lot size
    36.66 Acres
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    CYNTHIA WILLIS

    Listing agent CYNTHIA WILLIS License #3105745

    Listing office CLEAR CHOICE REALTY GROUP, INC

    Listing date Sep 7, 2024

    Source Corcoran

    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 CLEAR CHOICE REALTY GROUP, INC

    HighLights

    • 1.37 Acres: Boasting 20 acres of improved pasture and 17 acres of native live oak hardwoods.
    • New (2022) Barn/Shop: Well‑built with insulated, climate‑controlled area and large rollup doors.
    • Excellent Location: Enjoy the convenience of a 10‑minute drive to Marianna, FL, 30 minutes to Dothan, AL, and 1 hour to beaches.
    • Water Well (2022): Features a new, excellent‑quality water well.
    • Fully Fenced: Property is fully fenced for livestock and includes a fenced garden area.
    • RV Ready: Complete with 30- and 50‑amp electric service for an RV.

    Overview

    This secluded property features a mix of approximately 20 acres of improved pasture and nearly 17 acres of native live oak hardwoods. A well-constructed barn/shop, completed in 2022, includes a fully insulated area equipped with a minisplit system for heating and cooling. The barn features an expansive shop area with large rollup doors and concrete floors throughout, suitable for equipment storage. The property is an ideal location for a new home. Commuting to Marianna, approximately 10 minutes away, is convenient. Dothan, AL, is about a 30-minute drive, and the beaches are approximately an hour south. The property includes 30- and 50-amp electric service for an RV and is fully fenced for livestock. A new water well was installed in 2022. The fenced garden area is suitable for growing produce. Deed restrictions require site-built homes with a minimum of 1800 sq ft of heated and cooled space. Owner financing is available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    Real Estate Agency Furniture & Home Goods

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenwood
    County
    Jackson
    State
    Florida
    Longitude
    -85.1544
    Latitude
    30.9018

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    FAQs

    What type of property is this?
    Horse & equestrian property - 20 acres pasture, 17 acres hardwoods, barn/shop, convenient location.
    Where is this horse & equestrian property located?
    The property is located at 5310 Chestnut Lane Greenwood, FL.
    What is the asking price?
    The asking price for this property is $564,000.
    What are key features of this property?
    This property features: 1.37 Acres: Boasting 20 acres of improved pasture and 17 acres of native live oak hardwoods.; New (2022) Barn/Shop: Well‑built with insulated, climate‑controlled area and large rollup doors.; Excellent Location: Enjoy the convenience of a 10‑minute drive to Marianna, FL, 30 minutes to Dothan, AL, and 1 hour to beaches.
    (800) 253-9230
    We can help!
    Listing Contact
    CYNTHIA WILLIS
    Real Estate License ID: 3105745
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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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