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    78 State Rd Lakeport, FL 33471

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    78 State Rd Lakeport, FL 33471

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    • Retail properties & Spaces
    • 2,164 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 78 State Rd

    Year built
    1974
    Property size
    2,164 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional 2,164 square foot retail property, located at 0 State Rd 78 in Moore Haven, Florida (zip code 33471), presents a unique investment opportunity. Built in 1974, this single-unit commercial space sits on a 3.66-acre lot comprised of six lots (five parcel IDs). The property includes an existing structure described as part mobile home, part concrete block structure, needing improvement, along with a small pavilion and an older barn. Its strategic location on State Road 78, a major east-west thoroughfare, offers high visibility and convenient access for travelers between Florida's coasts. The property's proximity to a new hotel under construction near a casino further enhances its potential. Numerous development possibilities exist, including a lakefront community with multiple residential homes, a large residential lakefront estate, or an expanded commercial/retail center. The property's current zoning is commercial, while future zoning is residential; prospective buyers should consult Glades County regarding planned use and necessary zoning changes. The property is also conveniently located near a bait and tackle shop and the recreational amenities of Lake Okeechobee. This versatile property offers significant potential for a savvy investor.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lakeport
    County
    Glades
    State
    Florida
    Longitude
    -81.2078
    Latitude
    26.946

    Comparable in this City

    • Value Estimation by Request
      10,428 SF

      4883 State Rd 78

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 10,428 SF
      4883 State Rd 78, Moore Haven, FL 33471-6209
      View Details
    • Value Estimation by Request
      8,000 SF

      30081 Us Hwy 27

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 8,000 SF
      30081 Us Hwy 27, Moore Haven, FL 33471
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    • Value Estimation by Request
      7,020 SF

      599 10th St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 7,020 SF
      599 10th St, Moore Haven, FL 33471
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    • Value Estimation by Request
      19,013 SF

      1023 Fox Ln

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 19,013 SF
      1023 Fox Ln, Moore Haven, FL 33471-8423
      View Details
    • Value Estimation by Request
      8,905 SF

      26653 Us Hwy 27

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 8,905 SF
      26653 Us Hwy 27, Moore Haven, FL 33471-6226
      View Details
    • Value Estimation by Request
      434 SF

      19594 Us Hwy 27

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 434 SF
      19594 Us Hwy 27, Moore Haven, FL 33471-5503
      View Details

    Similar Nearby for Sale

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    78 State Rd
    Lakeport, FL 33471
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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
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