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    28 Lynn Cir Saint Marks, FL 32355

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    28 Lynn Cir Saint Marks, FL 32355

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    • Specialty properties
    • 9.30 lot acres
    Off-Market
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    Cap Rate Potential
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    • Specialty properties

    Property Details for 28 Lynn Cir

    Lot size
    9.30 lot acres
    Property type
    Specialty properties
    Property subtype
    Marinas

    Description

    Exceptional investment opportunity awaits at St. Marks Marina, a 9.3-acre waterfront property located in the charming town of St. Marks, Florida, just 25 minutes from downtown Tallahassee. This mixed-use property boasts 96 boat slips, a mix of covered and uncovered, and currently offers RV and apartment rentals, presenting immediate income potential. The property's zoning permits mixed-use development, opening doors for exciting redevelopment projects, such as condominium construction. The expansive lot includes significant undeveloped shoreline along the beautiful St. Marks River, offering further development possibilities. Multiple buildings are situated on the property, providing existing infrastructure. The property's location offers easy access to the Gulf of Mexico, making it an attractive destination for boating enthusiasts and outdoor recreation lovers. The APN numbers are: 02-4S-01E-000-05587-000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Saint Marks
    County
    Wakulla
    State
    Florida
    Longitude
    -84.1992
    Latitude
    30.1567

    Comparable in this City

    • Value Estimation
      $4,510,000
      4.44 Acres

      229 Shell Is Rd

      MOBILE HOME PARK, TRAILER PARK • 4.44 Acres
      229 Shell Is Rd, Saint Marks, FL 32355
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    • Value Estimation by Request
      7,832 SF

      36 Yacht Ln

      PROFESSIONAL CLUBS/ASSOCIATIONS • 7,832 SF
      36 Yacht Ln, Saint Marks, FL 32355
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    • Value Estimation by Request
      5,742 SF

      803 Prt Leon Dr

      MOTEL • 5,742 SF
      803 Prt Leon Dr, Saint Marks, FL 32355
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    • Value Estimation by Request
      5,384 SF

      71 Riverside Dr

      STORES & APARTMENTS • 5,384 SF
      71 Riverside Dr, Saint Marks, FL 32355
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    • Value Estimation by Request
      3,151 SF

      60 Lynn Cir

      STORES & APARTMENTS • 3,151 SF
      60 Lynn Cir, Saint Marks, FL 32355
      View Details
    • Value Estimation by Request
      0.99 Acres

      Prt Leon Dr

      VACANT COMMERCIAL LAND • 2,180 SF
      Prt Leon Dr, Saint Marks, FL 32355
      View Details

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    28 Lynn Cir
    Saint Marks, FL 32355
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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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