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Property profile & analytics
OFF-MARKET
High-rise multifamily apartments
1738 247th Way Newberry, FL 32669-5013
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-8142130
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
2017
Construction
WOOD
Total area
3,280 SF
Lot
0.17 ac (7,405 SF)
Zoning code
PD
APN
02544-003-002
UPID
US18-8142130
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Norfleet Construction Group LLC · 2 yrs held
Norfleet Construction Group LLC
since 2024
2 recorded transactions
Zoning & alternative use
PD · Newberry, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Planned Development (PD) district encourages innovative development design in conformance with the provisions of the objectives and policies City of Newberry Comprehensive Plan, especially as they relate to the designated urban service area and provisions to prevent urban sprawl
Zone name
Planned Development
General category
PLANNED_DEVELOPMENT
Zone area
1,905.38 ac
Source
Realmo
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Newberry submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newberry submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$17,438
Tax year 2023
Assessed value
$525,300
Assessed 2023
Previous assessed
$525,300
+0.0% YoY
Effective rate
3.32%
On assessed value
Assessed land
$148,100
Assessed improvement
$377,200
Land market value
$148,100
Improvement market value
$377,200
Total market value
$525,300
Applied tax rate
8,700.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
2017
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Units
1
Rooms
20
Bathrooms
3
Total area
3,280 SF
Lot
0.17 ac (7,405 SF)
Zoning code
PD
APN
02544-003-002
UPID
US18-8142130
Jurisdiction
ALACHUA
Zoning & alternative use
PD · Newberry, FLZoning PD · permitted uses
PD · Newberry, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Planned Development (PD) district encourages innovative development design in conformance with the provisions of the objectives and policies City of Newberry Comprehensive Plan, especially as they relate to the designated urban service area and provisions to prevent urban sprawl
Zone name
Planned Development
General category
PLANNED_DEVELOPMENT
Zone area
1,905.38 ac
Source
Realmo
Building & site characteristics
From public records
Year built
2017
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
1
Rooms
20
Bathrooms
3
Lot
0.17 ac
Current owner
From public records · entity-resolved
Norfleet Construction Group LLC
Entity
Mailing address
5820 SE COUNTY RD 337, NEWBERRY, FL 32669-7131
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 26, 2024
—
Norfleet Construction Group LLC
—
Deed
related
$1,500,000 · Seacoast National Bank
Apr 16, 2024
—
Norfleet Construction Group LLC
—
Deed
related
$500,000 · Seacoast National Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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