Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    10590 62nd Ave Rd Belleview, FL 34420-3004

    • Commercial real estate
    • 23,065 SF
    • 2.77 lot acres
    OFF-MARKET
    Last Sale
    Aug 02, 2021
    $6,190,000
    Value Estimations
    $5,565,000
    Show details
    Cap Rate Potential
    5.2%
    Commercial real estate
    Location Intelligence
    Property ID
    US18-5623977
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Hampton Manor Assisted Living at Belleview / Retirement Community / Senior Citizen Center

    Property Details for 10590 62nd Ave Rd

    Year built
    1988
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.77 lot acres
    Property size
    23,065 SF
    Zone code
    R3
    Property type
    Commercial real estate
    APN
    37032-000-00
    APU
    3703200000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,605,000
      ML approach
      $5,535,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,830,000
      6.5%
      $4,455,000
      7%
      $4,140,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Belleview
    County
    Marion
    State
    Florida
    Longitude
    -82.0558
    Latitude
    29.0681
    CBSA code
    36100
    CBSA name
    OCALA, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $30,135
    $301,652
    $1,577,267
    $1,878,919
    -
    $301,652
    $1,629,174
    $1,930,826

    Comparable in this City

    • Value Estimation by Request

      8200 Highway 25

      Land
      8200 Highway 25, Belleview, FL 34420
      View Details
    • Value Estimation by Request
      0.24 Acres

      13198 Us Hwy 301

      COMMERCIAL (GENERAL) • 0.24 Acres
      13198 Us Hwy 301, Belleview, FL 34420-4460
      View Details
    • Value Estimation by Request
      0.21 Acres

      Belleview, FL 34420

      COMMERCIAL (GENERAL) • 0.21 Acres
      Belleview, FL 34420
      View Details
    • Value Estimation
      $250,000
      6.22 Acres

      Belleview, FL 34420

      COMMERCIAL (GENERAL) • 6.22 Acres
      Belleview, FL 34420
      View Details
    • Value Estimation
      $225,000
      0.32 Acres

      Belleview, FL 34420

      COMMERCIAL (GENERAL) • 0.32 Acres
      Belleview, FL 34420
      View Details
    • Value Estimation by Request
      0.80 Acres

      Belleview, FL 34420

      COMMERCIAL (GENERAL) • 0.80 Acres
      Belleview, FL 34420
      View Details

    Similar Nearby for Sale

    • $399,999
      2,874 SF

      Belleview Commercial Space - Prime Location

      Versatile building, ready for your business. High-traffic area.
      11567 Us Highway 301, Belleview, FL 34420
      View Details
    • $700,000
      1,344 SF

      Belleview Commercial Property - High Visibility

      1 Acre, High-Traffic Location, Dual Businesses
      6137 Hames Rd, Belleview, FL 34420
      View Details
    • $2,000,000
      15.43 Acres

      Belleview Commercial Land - 15 Acres

      Prime Multifamily Development Site in Belleview, FL
      0 102Nd Pl, Belleview, FL 34420
      View Details
    • $2,250,000
      6.59 Acres

      Belleview Commercial Land - $2.25M

      6.59 Acres, Hwy 441 Frontage, High Traffic
      9946 Us Highway 441, Belleview, FL 34420
      View Details
    • $1,150,000
      1,596 SF

      Belleview Investment: Two Businesses on US 441

      High-traffic location, two established businesses.
      5148 Abshier Blvd, Belleview, FL 34420
      View Details
    • $1,500,000

      Belleview Commercial Land Development

      High-traffic corner lot, national retailer LOI.
      8200 Highway 25, Belleview, FL 34420
      View Details

    Similar Nearby for Lease

    • $3,500 /Mo

      Belleview Agricultural Property for Rent

      Agricultural property available for rent in Belleview, Florida.
      7935 SE 121St Pl, Belleview, FL 34420
      View Details
    • $33,000

      Belleview Retail/Office Space Available

      2900 SF building with fenced storage on US-441.
      11997 SE Us Highway 441, Belleview, FL 34420
      View Details
    • $1,400 /Mo
      5,368 SF

      Belleview Retail/Office Space Available

      950 SF retail/office space with highway frontage.
      12301 Us Highway 441, Belleview, FL 34420
      View Details
    • $13,200 /Mo

      Warehouse with Highway Frontage

      Warehouse spaces featuring roll-front doors, offices, and modern bathrooms.
      4521 SE 100Th Pl, Belleview, FL 34420
      View Details
    • $2,750 /Mo
      22,000 SF

      Belleview Retail/Showroom Flex Space

      Versatile retail/showroom with warehouse space in Belleview, Florida.
      12221 SE Us Highway 441, Belleview, FL 34420
      View Details
    • Contact for pricing
      174,240 SF

      Belleview Retail Land Opportunity

      Four acres, flexible build-to-suit options.
      0 Us Highway 441, Belleview, FL 34420
      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.
    10590 62nd Ave Rd
    Belleview, FL 34420-3004
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.