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    Equestrian Farm Near HITS, WEC Title is generated by Realmo AI

    6170 NW 135TH AVENUE, Morriston, FL 32668

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    For Lease
    $13,500/Mo $162 SF/Yr (calc)

    Farm - MORRISTON, FL

    Type:Farm
    Property size:
    1,000 SF
    Lot size:
    20.91 Acres
    Added:
    Feb 20, 2026
    Days on Market:
    82
    Last Refresh:
    May 13 at 9:06 am

    Property Features for 6170 NW 135TH AVENUE

    General Information

    Property type
    Residential Lease
    Property subtype
    Farm
    Bedrooms
    2
    Bathrooms
    1
    Rooms
    Bathroom 1, Bedroom 1, Bedroom 2
    Parking features
    Garage, Garage - Attached
    Pets allowed
    Yes
    Interior features
    Window Treatments
    Appliances
    Microwave, Range, Refrigerator
    Standard status
    Active
    APN
    12604-004-01
    Size
    1,000 SF
    Lot size
    20.91 Acres

    Taxes and HOA fees

    Expense value
    75
    Expense
    Application Fee
    Expense freq.
    Once

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    2016
    Architectural style
    Other

    We can help!

    Listing Contact
    T Chetty

    Listing agent T Chetty License #3435112

    Listing office GOLDEN OCALA REAL ESTATE INC 4090 NW 84th Court, Ocala, FL

    Listing date Feb 20, 2026

    MLS# OM719304 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

    • Prime Location: Just 7 minutes to HITS and 13 minutes to WEC.
    • Equestrian Amenities: Features a brand new Shorn Wordley built arena, 10‑stall concrete barn, and six new 4‑board paddocks with water.
    • Income Potential: Includes brand new RV spots with 50 amp electric and water hook up.
    • Furnished Apartment: Includes a 2‑bedroom furnished apartment with kitchen and living room.
    • Utilities Included: Long term rental includes electric and utilities (with a cap).
    • Equipment Storage: Benefit from a 3‑car garage for equipment storage.

    Overview

    This private 20-acre equestrian farm is located on 464B, 7 minutes from HITS and 13 minutes from WEC. Designed for efficiency and performance, the farm offers a concrete 10-stall full matted barn (12x12 and 14x12). The amenities include a new Shorn Wordley-built arena. Six new 4-board paddocks are equipped with water troughs. There are dedicated tack and feed rooms. New RV spots feature 50 amp electric and water hook-ups. The property includes a furnished 2-bedroom apartment with a kitchen and living room. Two wash stalls and a separate feed and laundry room are available. A 3-car garage provides equipment storage. A round pen and walking pen are under construction. The property is available for long-term rental at $13,500 per month or short-term rental at $15,000 per month. For long-term rentals, electric and utilities are included with a cap. The tenant is responsible for providing shavings and for manure disposal. Lawn and maintenance will be handled by the landlord. The property size is 1000 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    TriColor Stables Kennel & Boarding Facility

    Suggested Use

    Real Estate Agency Accounting Firm Garden Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Morriston
    County
    Levy
    State
    Florida
    Longitude
    -82.3470244
    Latitude
    29.2521927

    FAQs

    What type of property is this?
    Horse & equestrian property - 20-acre equestrian farm with 10-stall barn, arena, and apartment.
    Where is this horse & equestrian property located?
    The property is located at 6170 NW 135TH AVENUE Morriston, FL.
    What is the lease rate?
    The lease rate is $13,500 /Mo.
    What are key features of this property?
    This property features: Prime Location: Just 7 minutes to HITS and 13 minutes to WEC.; Equestrian Amenities: Features a brand new Shorn Wordley built arena, 10‑stall concrete barn, and six new 4‑board paddocks with water.; Income Potential: Includes brand new RV spots with 50 amp electric and water hook up.
    (352) 875-8373
    We can help!
    Listing Contact
    T Chetty
    Real Estate License ID: 3435112
    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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