Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Driftwood Dr Spring Hill, FL 34607

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Driftwood Dr Spring Hill, FL 34607

    View on Map
    • Land
    • 10.80 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Driftwood Dr

    Lot size
    10.80 lot acres
    Property type
    Land
    Property subtype
    Private islands

    Description

    This exceptional 10.8-acre property in Bayport, Florida, presents a rare opportunity to own a significant piece of waterfront land on the Gulf Coast. Located on Driftwood Drive in Hernando County, this property boasts approximately 3.8 acres of upland area suitable for building a dream home or developing a family compound. The remaining acreage offers additional potential uses. The property is zoned R1B & AG, providing flexibility for various development options. Its prime location offers easy access to the natural beauty of the Nature Coast while remaining conveniently located approximately 1 hour and 13 minutes from downtown Tampa. The combination of size, location, and zoning makes this coastal property a truly unique offering. Given the scarcity of such sizeable waterfront properties in this area, this represents an incredibly rare investment opportunity. Additional marketing materials, including maps and drone photography, are available to further showcase the property's exceptional features and potential. This is a must-see property for anyone seeking a significant coastal land investment. The APN is R30 422 17 0000 0030 0013. The asking price is $1,200,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Spring Hill
    County
    Hernando
    State
    Florida
    Longitude
    -82.6441
    Latitude
    28.5479

    Comparable in this City

    • Value Estimation by Request
      10.00 Acres

      Cortez Blvd

      Private islands • 10.00 Acres
      0 Cortez Blvd, Spring Hill, FL 34607
      View Details
    • Value Estimation by Request
      27.90 Acres

      1490 Indian Bay Rd

      Farms • 27.90 Acres
      1490 Indian Bay Rd, Spring Hill, FL 34607
      View Details
    • Value Estimation by Request
      48.30 Acres

      3217 Shine Ln

      Farms • 48.30 Acres
      3217 Shine Ln, Spring Hill, FL 34607
      View Details
    • Value Estimation by Request
      51.10 Acres

      1551 Osowaw Blvd

      Farms • 51.10 Acres
      1551 Osowaw Blvd, Spring Hill, FL 34607
      View Details
    • Value Estimation by Request
      14.00 Acres

      Osowaw Blvd

      Farms • 14.00 Acres
      0 Osowaw Blvd, Spring Hill, FL 34607
      View Details
    • Value Estimation by Request
      35.00 Acres

      Commercial Way

      Land • 35.00 Acres
      0 Commercial Way, Hernando Beach, FL 34607
      View Details

    Similar Nearby for Sale

    • $74,999

      Hernando Beach Waterfront Lot

      7,500 sq ft residential lot, Gulf views
      0 Maplewood Dr, Hernando Beach, FL 34607
      View Details
    • $2,495,000
      35.50 Acres

      Land with Natural Spring Access

      35+ acres with direct Gulf access via natural spring.
      Marys Fish Camp Rd, Spring Hill, FL 34607
      View Details
    • $82,999

      Land for Sale

      Land available in Hernando Beach, Florida.
      3487 Bluefish Dr, Hernando Beach, FL 34607
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Land For Rent

      Commercial land available for rent with frontage on SR 50.
      Cortez Blvd, Brooksville, FL 34607
      View Details
    • Contact for pricing

      Land for Lease Opportunity

      Located on US 19 & SR 52 in Spring Hill.
      Cortez Blvd, Spring Hill, FL 34607
      View Details
    • Contact for pricing

      Commercial Land in Retail Hub

      Land in Publix-anchored center on a major thoroughfare.
      Spring Hill Dr, Spring Hill, FL 34607
      View Details
    • Contact for pricing
      1,174 SF

      Retail Space in Spring Hill

      Retail space available in Spring Hill's dominant power center.
      1253-1437 Wendy Ct, Spring Hill, FL 34607
      View Details
    • Contact for pricing

      Spring Hill Commercial Space Available

      Commercial space for rent in Spring Hill, Florida.
      1417 Wendy Ct, Spring Hill, FL 34607
      View Details
    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.
    Driftwood Dr
    Spring Hill, FL 34607
    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!