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    9450 NW 150Th Ave Morriston, FL 32668

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    For Lease
    $5,950 /Mo

    10-acre farm near HITS and World Equestrian Center.

    Lot size:
    10.01 Acres

    Property Features for 9450 NW 150Th Ave

    General Information

    Property type
    Farm and Ranch Properties
    Standard status
    Active
    Lot size
    10.01 Acres

    Building Details

    Year built
    2008

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    Listing Contact
    Steven Alexander Saumell
    Steven Alexander Saumell
    Source: Elliman

    Listing Agent: Steven Alexander Saumell

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

    Learn more

    Overview

    Equestrian Paradise Near HITS & WEC

    This 10-acre farm offers privacy and convenience, situated minutes from HITS and the World Equestrian Center. The property features a gated entrance and a tree-lined driveway leading to a meticulously maintained 7-stall center aisle barn, built in 2008. The barn includes tongue and groove interiors, 12 x 12 matted stalls, a full bathroom, a rider's lounge with a kitchenette, and a tongue and groove tack room. The rental includes a zero-turn mower, a full set of jumps, a tractor, and an arena drag. A spacious overhang provides storage for equipment, hay, or shavings. The property also features a large sand riding arena with an irrigation sprinkler system and four spacious paddocks with ample shade. The front of the property is shaded and suitable for trail rides. This farm is intended for equestrian living. Rental rates for an annual term (12 months) are $5,950 monthly, including the zero turn, arena drag, and jumps. Available May 1 - October.
    Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    Real Estate Agency Law Firm Arcade & Gaming Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Morriston
    County
    Levy
    State
    Florida
    Longitude
    -82.3739732
    Latitude
    29.2898127

    Nearby Similar for Lease

    • $5,950 /Mo

      Morriston Agricultural Property For Rent

      Agricultural property available for rent in Morriston, Florida.
      9450 NW 150Th Ave, Morriston, FL 32668
      View Details
    • $7,500 /Mo

      Morriston Agricultural Property for Rent

      Agricultural property available for rent in Morriston, Florida.
      5391 NW 153Rd Ct, Morriston, FL 32668
      View Details
    • $13,500 /Mo
      1,000 SF

      Equestrian Farm Near HITS, WEC

      20-acre equestrian farm with 10-stall barn, arena, and apartment.
      6170 NW 135Th Ave, Morriston, FL 32668
      View Details

    FAQs

    What type of property is this?
    Horse & equestrian property - 10-acre farm near HITS and World Equestrian Center.
    Where is this horse & equestrian property located?
    The property is located at 9450 NW 150Th Ave Morriston, FL.
    What is the lease rate?
    The lease rate is $5,950 /Mo.
    What are key features of this property?
    This property features: - Prime Location: Minutes from HITS and the World Equestrian Center (WEC).; - 10-Acre Equestrian Farm: Offers privacy and ample space for horses.; - 7-Stall Center Aisle Barn (Built in 2008): Features tongue and groove interiors, matted 12x12 stalls, full bathroom, rider's lounge with kitchenette, and tack room.
    (786) 804-1224
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    9450 NW 150Th Ave Morriston, FL 32668
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    Morriston, FL 32668
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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
    9450 NW 150Th Ave Morriston, FL 32668
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    We can help!
    Listing Contact
    Steven Alexander Saumell
    Steven Alexander Saumell
    Real Estate License ID: 3317618
    (786) 804-1224 (561) 653-6195
    Learn more
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