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    16223 Us Highway 19 Cross City, FL 32628

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    For Sale
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    26-Acre Residential Development Site in Florida

    Property Features for 16223 Us Highway 19

    General Information

    Property type
    Land
    Lot Size
    1,143,014 SF

    We can help!

    Listing Contact
    Eric Ligman
    Eric Ligman

    Listing Agency: Bosshardt Realty Services Listing Agent: Eric Ligman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 26.24-acre vacant land parcel presents a prime opportunity for multi-family development in the thriving Cross City, Florida market. Located at 16223 SE Hwy 19, this site boasts high visibility and convenient access with direct frontage on US Highway 19. The property's permitted zoning is PD, making it ideally suited for a variety of multi-family projects, such as single-floor condos or similar developments. Preliminary estimations suggest the potential for approximately 150 units. Its strategic location offers significant advantages, including proximity to key amenities and transportation hubs. A mere four-minute drive separates the property from the Cross City Airport, ensuring easy access for residents and visitors. Furthermore, its position directly across from Dixie County High School adds to its appeal and potential for attracting residents. The site benefits from its central location within Florida, placing it within a convenient driving distance of several major cities. Gainesville and Ocala are each just over an hour away, while Tallahassee and Tampa are approximately two hours away. The property's APN is 04-10-12-0000-1515-0000. The asking price for this remarkable development opportunity is $697,500. This represents a compelling investment prospect in a rapidly growing area of Florida.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Law Firm Building Supply Dental Office Hair Salon Big Box & Wholesale Store Auto Repair Shop Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Cross City
    County
    Dixie
    State
    Florida
    Longitude
    -83.1308403
    Latitude
    29.6370189

    Nearby Similar for Sale

    • $650,000
      240 SF

      Cross City Industrial Opportunity

      12.42 acres zoned industrial, currently used for storage.
      86 170 St, Cross City, FL 32628
      View Details
    • $575,000
      3,540 SF

      Cross City Commercial Gem

      3,540 SF Multi-Use Property
      19750 Us Highway 19, Cross City, FL 32628
      View Details

    FAQs

    What type of property is this?
    Land - 26-Acre Residential Development Site in Florida
    Where is this land located?
    The property is located at 16223 Us Highway 19 Cross City, FL.
    What is the asking price?
    The asking price for this property is $697,500.
    What are key features of this property?
    This property features: 26.24-acre vacant land parcel ideal for multi-family development in Cross City, FL.; High-visibility location with US Highway 19 frontage.; PD zoning allows for various multi-family projects, potentially 150 units.
    (352) 256-2112 Call to check price and availability
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    16223 Us Highway 19 Cross City, FL 32628
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    Cross City, FL 32628
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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.

    More about this property
    16223 Us Highway 19 Cross City, FL 32628
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Eric Ligman
    Eric Ligman
    Real Estate License ID: 3086548
    (352) 256-2112 (352) 371-6100
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