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    Airpark-Adjacent Multifamily Zoned Lot Title is generated by Realmo AI

    TBD SW SISTERS WELCOME RD, Lake City, FL 32025

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    For Sale
    $78,500

    Residential Lot, Residential,Multi-family Apartments - Lake City, FL

    Type:Single Family Residence
    Lot size:
    1.38 Acres
    Added:
    Jun 3, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 5 at 3:06 pm

    Property Features for TBD SW SISTERS WELCOME RD

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Zoning
    RES
    Exterior features
    Community Feature: Air Park
    Standard status
    Active
    Lot size
    1.38 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Leigh Ann Mills
    Leigh Ann Mills

    Listing agent Leigh Ann Mills License #3020308

    Listing office NextHome Gateway Realty 725 SE Baya Dr., Suite 107, Lake City, FL

    Listing date Jun 3, 2026

    MLS# 131714 Listing URL

    Copyright © 2026 Lake City Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • North‑end lots in Brothers Welcome Airpark S/D at Cannon Creek Airpark front the highway and back up to the paved runway
    • 18/36 lighted paved runway access: 3,500 ft x 37 ft; runway licenses stay with the lots
    • Second runway includes grass 9‑27 runway: 3,900 ft
    • Zoned multi family; single‑family allowed with minimum 1,500 SF living space, plus hangar with over 2,000 SF built to commercial standards
    • Well and septic tank required
    • Runway maintenance and use fees are $950 annually

    Overview

    This is a 1.38-acre buildable lot in an airpark subdivision, with mature oaks scattered across the property. The lot is positioned to front the highway and back up to a lighted paved runway measuring 3,500 feet by 37 feet. A second runway on the airpark is grass, measuring 3,900 feet. The runway licenses are stated to stay with the lots.

    The property sits in Brothers Welcome Airpark S/D at Cannon Creek Airpark on the north end of the paved runway. The subdivision is described as active, with an EAA chapter that meets the first Wednesday of each month. The listing also notes that runway maintenance and use fees are $950 annually.

    Zoned RES with a multi-family designation noted in the remarks, the listing states you can build a single-family home with a minimum of 1,500 square feet of living space. A hangar with more than 2,000 square feet is also described as permitted, with a requirement that it be built to commercial standards. The listing further states that a well and septic system are required for the property. An adjacent lot (lot 4) is also listed as available.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Lake City
    County
    Columbia
    State
    Florida
    Longitude
    -82.666583
    Latitude
    30.158802

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    FAQs

    What type of property is this?
    Residential land & home lot - Buildable airpark lot fronting the highway with multi-family zoning and runway license continuity included.
    Where is this residential land & home lot located?
    The property is located at TBD SW SISTERS WELCOME RD Lake City, FL.
    What is the asking price?
    The asking price for this property is $78,500.
    What are key features of this property?
    This property features: North‑end lots in Brothers Welcome Airpark S/D at Cannon Creek Airpark front the highway and back up to the paved runway; 18/36 lighted paved runway access: 3,500 ft x 37 ft; runway licenses stay with the lots; Second runway includes grass 9‑27 runway: 3,900 ft
    (386) 344-7674
    We can help!
    Listing Contact
    Leigh Ann Mills
    Leigh Ann Mills
    Real Estate License ID: 3020308
    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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