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    Waterfront Land on Canal Title is generated by Realmo AI

    18625 NE 238TH Ter, Fort Mc Coy, FL 32134

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    Claim this Listing
    For Sale
    $145,000

    Private waterfront land ideal for recreation and potential homestead.

    Type:Land
    Lot size:
    0.41 Acres
    Added:
    Apr 12, 2026
    Days on Market:
    52
    Last Refresh:
    Apr 12 at 5:55 am

    Property Features for 18625 NE 238TH Ter

    General Information

    Standard status
    Active
    Lot size
    0.41 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Carey Cyr

    Listing agent Carey Cyr License #3245906

    Listing office Adams, Cameron & Co. REALTORS

    Listing date Apr 12, 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 Adams, Cameron & Co. REALTORS

    HighLights

    • Direct canal access to a freshwater lake with personal boat launch.
    • Private and secluded location perfect for a weekend getaway or permanent home.
    • Enjoy outdoor activities: ATV trails, horseback riding, hiking, and more.
    • Conveniently located: only 8 miles to Salt Springs.
    • Includes 4 lots (2 parcel IDs) totaling approximately 200' x 90'.
    • Permitted demolition of a previous home in 2013; capped well on property.

    Overview

    This property offers a private piece of land directly on a canal that leads to a freshwater lake, suitable for fishing and recreation. It includes a personal small boat launch. The location is near ATV trails, horseback riding trails, hiking, hunting, kayaking, Lake Kerr, Lake George, Palatka, St John's River, and Ocala National Forest. It is located approximately 8 miles from Salt Springs and less than 2 hours from both the Gulf and Atlantic coasts. The property is comprised of 4 lots under parcel ID's 05665-106-01 and 05664-106-04, totaling approximately 200' x 90'. A small home on the property underwent a permitted demolition in 2013. The well has been capped off, and the septic tank status is unknown. This property could serve as a weekend getaway, a secondary residence, or an income-producing opportunity. It also presents the possibility of building a homestead for a quiet lifestyle with boating, hunting, and horseback riding. The location offers seclusion with convenient access to shopping, dining, larger cities, and airports.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Fort Mc Coy
    County
    Marion
    State
    Florida
    Longitude
    -81.7598077
    Latitude
    29.4239694

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    FAQs

    What type of property is this?
    Waterfront Land - Private waterfront land ideal for recreation and potential homestead.
    Where is this waterfront land located?
    The property is located at 18625 NE 238TH Ter Fort Mc Coy, FL.
    What is the asking price?
    The asking price for this property is $145,000.
    What are key features of this property?
    This property features: Direct canal access to a freshwater lake with personal boat launch.; Private and secluded location perfect for a weekend getaway or permanent home.; Enjoy outdoor activities: ATV trails, horseback riding, hiking, and more.
    (386) 562-1961
    We can help!
    Listing Contact
    Carey Cyr
    Real Estate License ID: 3245906
    Learn More
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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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