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    16872 Hwy 19 Cross City, FL 32628-3559
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    Property profile & analytics

    16872 Hwy 19, Cross City, FL 32628-3559

    View on Map
    • Motels
    • 9,616 SF
    • 1.44 lot acres
    Off-Market
    Property ID
    US18-6193099
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Motels

    Property Details for 16872 Hwy 19

    Year built
    1961
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.44 lot acres
    Zone code
    C-2
    Property type
    Motels
    APN
    09-10-12-2144-0024-001.0
    APU
    91012214400240010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 4, 2026 — Devpooja LLC — Deed · related $3.4M
    Apr 16, 2019 $820,000 Devpooja LLC Eugene Gonera Warranty Deed $746k · Midwest Regional Bank
    Jan 27, 2009 — Eugene Gonera — Trustees Deed · related $150k · Ameris Bank
    Oct 17, 2008 $770,000 Eugene Gonera Zombor,miklos & Betty T Warranty Deed —
    — — Gonera,eugene & Urszula — Deed Of Trust · related $120k · Capital Cty Bk

    Description

    This exceptional investment opportunity presents a 27-unit motel and a leased full-service restaurant situated on a 1.44-acre lot in Cross City, Florida. The property boasts a substantial 16,912 square feet of space, encompassing a two-story, 25-unit motel (plus two additional apartment units) and a 4,896 square foot restaurant operating under a year-to-year lease. Built in 1961 and extensively renovated in 2021, the motel features a recently replaced roof (within the last two years) and new plumbing. The property also includes an in-ground pool and ample parking for 50+ vehicles. The motel consistently maintains a 70% occupancy rate, generating a significant gross revenue stream from room rentals. In 2023, the motel's gross revenue from room rentals totaled $273,783, supplemented by $25,680 in annual lease income from the restaurant, resulting in a combined gross revenue of $299,463. The property's strong performance is reflected in its impressive Net Operating Income (NOI) of $143,575 for 2023, representing a 5.74% cap rate. The asking price is $2,500,000, translating to approximately $92,592.59 per key. The property's location on SE Hwy 19 benefits from a high average annual daily traffic count of 20,313 vehicles. This turnkey investment requires no immediate capital expenditures (CAPEX), making it an attractive opportunity for owner-users or investors seeking a stable and profitable venture in the Florida hospitality market. The property's address is 16872 SE Hwy 19, Cross City, FL 32628, APN 09 10 12 2144 0024 0010.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cross City
    County
    Dixie
    State
    Florida
    Longitude
    -83.1219
    Latitude
    29.6321

    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
    $19,506
    $139,100
    $491,000
    $630,100
    -
    $139,100
    $491,000
    $630,100

    Comparable in this City

    • Value Estimation by Request
      8,606 SF

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    • Value Estimation
      $695,000
      17,478 SF

      15487 Hwy 19

      HOTEL/MOTEL
      15487 Hwy 19, Cross City, FL 32628-4000
      View Details
    • Value Estimation by Request
      1.56 Acres

      Cross City, FL 32628

      VACANT COMMERCIAL LAND
      Cross City, FL 32628
      View Details
    • Value Estimation by Request
      2.22 Acres

      15642 United States Hwy 27th Altrnt N Rte

      VACANT COMMERCIAL LAND
      15642 United States Hwy 27th Altrnt N Rte, Cross City, FL 32628
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    • Value Estimation by Request
      1.00 Acre

      Cross City, FL 32628

      VACANT COMMERCIAL LAND
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      View Details
    • Value Estimation by Request
      1.22 Acres

      Hwy 19

      INDUSTRIAL - VACANT LAND
      Hwy 19, Cross City, FL 32628
      View Details

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    Cross City, FL 32628-3559
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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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