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

    9422 Southwest State Road 121 Lake Butler, FL 32054

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $700,000

    27.6-acre property suitable for redevelopment or adaptive reuse.

    Type:V-COM
    Property size:
    10,200 SF
    Lot size:
    27.60 Acres
    Added:
    Aug 15, 2025
    Days on Market:
    238
    Last Refresh:
    Apr 3 at 5:00 am

    Property Features for 9422 Southwest State Road 121

    General Information

    Standard status
    Active
    Size
    10,200 SF
    Lot size
    27.60 Acres
    Property subtype
    V-COM

    We can help!

    Listing Contact
    Brenton Keith Line

    Listing agent Brenton Keith Line License #3543025

    Listing office KW Commercial | Gainesville | Brenton Keith Line

    Listing date Aug 15, 2025

    Source Realnex

    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 KW Commercial | Gainesville | Brenton Keith Line

    Overview

    27.6 Acres on State Road

    Located at 9422 SW State Road 121 in Lake Butler, FL, this approximately 27.6-acre property offers an opportunity for redevelopment or adaptive reuse. The site includes an approximately 10,200 square foot pre-engineered steel building. The property is zoned A (Agricultural), making it suitable for agri-business, light industrial use, or an owner-user setup. It features direct frontage on SR 121, providing access, with Gainesville 30 minutes away and Jacksonville 60 minutes away. The property's location near local government buildings and emerging residential areas, along with its proximity to Gainesville Regional Airport and Jacksonville Port, adds to its appeal. The property is being offered under sealed bid through the City of Lake Butler.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Suggested Use

    Big Box & Wholesale Store Auto Repair Shop Pet Store & Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Butler
    County
    Union
    State
    Florida
    Longitude
    -82.363705
    Latitude
    30.008031

    Nearby Similar for Sale

    • $700,000
      7,800 SF

      27.6 Acres Redevelopment Opportunity

      27.6-acre property suitable for redevelopment or adaptive reuse.
      9422 SW STATE ROAD 121, LAKE BUTLER, FL 32054
      View Details
    • $124,900

      Land in Gated Fly-In Community

      1.67 acre lot with runway access in Lake Butler.
      Lot 9 SW 39TH DRIVE, LAKE BUTLER, FL 32054
      View Details
    • $990,000
      12,603 SF

      Spacious Commercial Building in Lake Butler

      Large building with redevelopment potential on Main Street in Lake Butler.
      300 W MAIN Street, Lake Butler, FL 32054
      View Details
    • $52,500

      Lake Butler Wooded Acreage

      Picturesque 1+ acre wooded parcel in quiet Lulu area.
      9535 NW 147TH TERRACE, LAKE BUTLER, FL 32054
      View Details
    • $175,000

      Lake Butler 10-Acre Land

      10 acres of land in The Ranches at New River.
      NW 235 County Road, Lake Butler, FL 32054
      View Details
    • $130,000

      2.4 Acres on SW 6th

      2.4 acres of commercial land for sale in Florida.
      SW 6th St, Lake Butler, FL
      View Details
    • $200,000

      Land For Sale in Florida

      2.36 acres of commercial land for sale in Florida.
      1121 SW 6 St, Lake Butler, FL
      View Details
    • $75,000

      Lake Butler Residential Development Land

      3.65 acres in downtown Lake Butler, suitable for residential development.
      Tbd SE 5TH AVENUE, LAKE BUTLER, FL 32054
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - 27.6-acre property suitable for redevelopment or adaptive reuse.
    Where is this agricultural land / farmland located?
    The property is located at 9422 Southwest State Road 121 Lake Butler, FL.
    What is the asking price?
    The asking price for this property is $700,000.
    What are key features of this property?
    This property features: ±27.6‑acre property suitable for redevelopment or adaptive reuse.; Existing ±10,200 SF pre‑engineered steel building on site.; Flexible A (Agricultural) zoning allows for agri‑business or light industrial use.
    (352) 281-0996
    We can help!
    Listing Contact
    Brenton Keith Line
    Real Estate License ID: 3543025
    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!