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    Waterfront Lot with Boat Slip Title is generated by Realmo AI

    12331 Anchor Cove Dr, Cedar Key, FL 32625

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    Claim this Listing
    Pending
    $179,000

    LAND - Cedar Key, FL

    Lot size:
    0.15 Acres
    Added:
    Oct 11, 2025
    Days on Market:
    233
    Last Refresh:
    May 31 at 10:06 am

    Property Features for 12331 Anchor Cove Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    APN
    2163800000
    Lot size
    0.15 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    30-15-13 ANCHOR COVE S/D LOT 2 W/BOAT SLIP 5 OR BOOK 1589 PAGE 67
    Tax Annual Amount
    2438

    Utilities

    Water front
    1

    We can help!

    Listing Contact
    Melinda Allen

    Listing agent Melinda Allen

    Listing office Pelican Realty 618 2nd Street, Cedar Key, FL

    Listing date Oct 11, 2025

    MLS# 795860 Listing URL

    Copyright © 2026 Dixie-Gilchrist-Levy Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Waterfront lot with SPECTACULAR Gulf views and sunrises in desirable Anchor Cove.
    • Includes an assigned boat slip providing direct access to protected waters and the Gulf.
    • Architectural plans and a current survey are available, streamlining the building process.
    • Located in a quiet, well‑maintained community with underground utilities, community dock, and private boat basin.
    • Minutes from Cedar Key's restaurants, art shops, and laid‑back coastal lifestyle.
    • Ideal for building a full‑time home, vacation getaway, or investment property.

    Overview

    This waterfront lot is located in Anchor Cove in Cedar Key. It offers the opportunity to build a home and enjoy sunrises over the Gulf. The property provides privacy, scenery, and access to fishing and boating. It includes an assigned boat slip, providing direct access to protected waters and the open Gulf. The location allows for watching dolphins and ospreys, and exploring flats, creeks, and islands. Architectural plans and a current survey are available. Anchor Cove is a community featuring underground utilities, a community dock, and a private boat basin. It is located minutes from Cedar Key, with restaurants, art shops, and a coastal lifestyle. This lot is suitable for a full-time home, a vacation getaway, or an investment property. It offers water views, outdoor adventures, and waterfront living in Anchor Cove. The property is one of the area's waterfront building sites and includes a boat slip, plans, and survey. The lot size is 0.15 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Cedar Key
    County
    Levy
    State
    Florida
    Longitude
    -83.041261
    Latitude
    29.147698

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    FAQs

    What type of property is this?
    Waterfront Land - Waterfront lot in Cedar Key with assigned boat slip.
    Where is this waterfront land located?
    The property is located at 12331 Anchor Cove Dr Cedar Key, FL.
    What is the asking price?
    The asking price for this property is $179,000.
    What are key features of this property?
    This property features: Waterfront lot with SPECTACULAR Gulf views and sunrises in desirable Anchor Cove.; Includes an assigned boat slip providing direct access to protected waters and the Gulf.; Architectural plans and a current survey are available, streamlining the building process.
    (352) 222-8585
    We can help!
    Listing Contact
    Melinda Allen
    Request Owner's contact information
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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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