Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    10487 SE HIGHWAY 42 Summerfield, FL 34491

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $725,000

    Three-acre commercial land parcel with highway frontage and multiple structures.

    Type:Commercial
    Lot size:
    3.00 Acres
    Added:
    Apr 24, 2026
    Days on Market:
    6
    Last Refresh:
    Apr 24 at 4:35 pm

    Property Features for 10487 SE HIGHWAY 42

    General Information

    Standard status
    Active
    Lot size
    3.00 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1925

    We can help!

    Listing Contact
    Toni Chapman

    Listing agent Toni Chapman License #697860

    Listing office

    Listing date Apr 24, 2026

    Source Elliman

    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 Toni Chapman

    Overview

    Highway Frontage Commercial Land Opportunity

    This three-acre commercial property, zoned B2, is located north of The Villages and near Lake Weir. The corner lot includes four structures: a historic two-story home suitable for office use, a garage, and two barns. The property fronts Highway 42, which experiences a traffic count exceeding 15,000 vehicles per day. The house is equipped with air conditioning and wired for surveillance. The additional structures are suitable for service businesses or storage. The property is partially fenced and features a large rolling gate for truck access. Public utilities are available in front of the property, though it currently uses well and septic systems. This property offers numerous applications for business ventures or company expansion.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center 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
    Summerfield
    County
    Marion
    State
    Florida
    Longitude
    -81.97946
    Latitude
    28.982954

    Nearby Similar for Sale

    • $975,000
      3,176 SF

      Updated Farm Near Equestrian Center

      7.84-acre farm with updated home, equestrian amenities, and guest apartment.
      1960 SE 150TH STREET, SUMMERFIELD, FL 34491
      View Details
    • $2,500,000

      Corner Land Parcel in Summerfield

      8.89 acres with frontage on CR 42 near The Villages.
      7415 SE HIGHWAY 42, SUMMERFIELD, FL 34491
      View Details
    • $579,900
      936 SF

      Equestrian/Agricultural Opportunity in Marion County

      14-acre equestrian/agricultural property in Southeast Marion County.
      9900 SE SUNSET HARBOR ROAD, SUMMERFIELD, FL 34491
      View Details
    • $945,000

      Equestrian Farm Near Florida Horse Park

      12.97 acre equestrian farm near Florida Horse Park and WEC.
      815 SE 145TH STREET, SUMMERFIELD, FL 34491
      View Details
    • $1,250,000
      1,632 SF

      Equestrian Property with Two Residences

      10-acre equestrian property with two residences and horse facilities.
      4495 SE 150TH STREET, SUMMERFIELD, FL 34491
      View Details
    • $235,000

      Commercial Lot Near Oxford Downs

      Commercial lot with easy access and few limitations.
      00 S US HWY 301, SUMMERFIELD, FL 34491
      View Details
    • $474,900

      A-1 Zoned Land Opportunity

      11.95 acres of A-1 zoned land in Summerfield, FL.
      15153 SE 73RD AVENUE, SUMMERFIELD, FL 34491
      View Details
    • $1,250,000
      1,440 SF

      High Profile Corner Property

      Corner property ideal for retail or service-oriented business.
      13121 S US HIGHWAY 441, SUMMERFIELD, FL 34491
      View Details
    • $470,000
      1,840 SF

      Summerfield Farm with Equestrian Features

      2.6-acre property with main residence, stable, and mobile home.
      3334 SE 138TH PLACE, SUMMERFIELD, FL 34491
      View Details
    • $36,000

      Summerfield, FL Vacant Land

      Vacant 0.40 acre lot in a serene Summerfield neighborhood.
      2034 SE 178th St, Summerfield, FL 34491
      View Details
    • $65,000

      Corner Lot in Growing Area

      Oversized corner lot ready for immediate development near The Villages.
      0 SE 159TH ST, SUMMERFIELD, FL 34491
      View Details
    • $144,999

      Residential Estate Lot Near Villages

      1.88-acre residential estate lot near The Villages.
      0 SE 99TH AVENUE, SUMMERFIELD, FL 34491
      View Details

    FAQs

    What type of property is this?
    Commercial land - Three-acre commercial land parcel with highway frontage and multiple structures.
    Where is this commercial land located?
    The property is located at 10487 SE HIGHWAY 42 Summerfield, FL.
    What is the asking price?
    The asking price for this property is $725,000.
    What are key features of this property?
    This property features: Prime commercial location with **high traffic (15,000+ vehicles/day) on Highway 42**.; Zoned B2 on 3 acres, suitable for various business applications.; Proximity to The Villages and Lake Weir, centrally located between Orlando and Ocala.
    (352) 409-0082
    We can help!
    Listing Contact
    Toni Chapman
    Real Estate License ID: 697860
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!