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    Versatile Farm in Dunnellon, Florida Title is generated by Realmo AI

    20540 SW 5TH PLACE, Dunnellon, FL 34431

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    For Sale
    $850,000

    Farm - DUNNELLON, FL

    Type:Farm
    Property size:
    1,334 SF
    Lot size:
    19.17 Acres
    Price / SF:
    $637/SF
    Added:
    May 20, 2026
    Days on Market:
    3
    Last Refresh:
    May 22 at 3:06 pm

    Property Features for 20540 SW 5TH PLACE

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Zoning
    A1
    Bedrooms
    3
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Kitchen, Living Room
    Parking features
    Garage, Garage - Attached
    Interior features
    Walk-in Closet(s)
    Exterior features
    Storage
    Appliances
    Dishwasher, Microwave, Range, Refrigerator, Washer
    Standard status
    Active
    APN
    17306-004-00
    Size
    1,334 SF
    Lot size
    19.17 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    3332.17

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1997
    Flooring type
    Tile, Wood
    Building materials
    Cement Siding
    Roof type
    Shingle
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Liz Gray

    Listing agent Liz Gray License #3450675

    Listing office SHOWCASE PROPERTIES OF CENTRAL 5780 SW 20 Street, Ocala, FL

    Listing date May 20, 2026

    MLS# OM725007 Listing URL

    Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 19+ acre farm with no HOA restrictions, offering privacy and potential.
    • 12‑stall center‑aisle barn with feed and tack rooms, plus 5 pastures/paddocks.
    • Two residences: a 3‑bedroom/2‑bath block home (new roof 2024, new HVAC 2022) and a 3‑bedroom/2‑bath 2015 mobile home.
    • Excellent location near US 41, World Equestrian Center, HITS, shopping, and dining.
    • Income potential through boarding, seasonal rentals, or Airbnb/VRBO near Rainbow Springs State Park, Rainbow River, and Goethe State Forest.
    • Lush Bahia grass fields previously used for hay production.

    Overview

    Located near the north end of Dunnellon, Florida, this farm offers a combination of privacy and potential with no HOA restrictions. The property spans over 19 acres and is conveniently located near US 41, the World Equestrian Center, HITS, and Ocala's shopping and dining options. The farm features a 12-stall center-aisle barn equipped with feed and tack rooms, along with 5 pastures/paddocks. The lush Bahia grass fields were previously used for hay production. The property is suited for training, boarding, or passive seasonal rental income. There are two residences on the property. The main home is a 3-bedroom, 2-bath block home with over 1,300 square feet of space. Updates to this home include a new roof in 2024 and a new HVAC in 2022. The secondary home is a 3-bedroom, 2-bathroom mobile home built in 2015, offering flexibility for guests, in-laws, or potential rental income. The property is located minutes away from Rainbow Springs State Park, the Rainbow River, and the Goethe State Forest. The property offers opportunities for income through boarding, seasonal rentals, or Airbnb/VRBO potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Shopping Center & Mall

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

    Location Insight

    • Map
    • Local Demand
    City
    Dunnellon
    County
    Citrus
    State
    Florida
    Longitude
    -82.4629052
    Latitude
    29.1806887

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    FAQs

    What type of property is this?
    Horse & equestrian property - 19+ acre farm near equestrian centers with income potential.
    Where is this horse & equestrian property located?
    The property is located at 20540 SW 5TH PLACE Dunnellon, FL.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: 19+ acre farm with no HOA restrictions, offering privacy and potential.; 12‑stall center‑aisle barn with feed and tack rooms, plus 5 pastures/paddocks.; Two residences: a 3‑bedroom/2‑bath block home (new roof 2024, new HVAC 2022) and a 3‑bedroom/2‑bath 2015 mobile home.
    (352) 351-4718
    We can help!
    Listing Contact
    Liz Gray
    Real Estate License ID: 3450675
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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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