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    1808 Eljay Ln Ruskin, FL 33570
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    1808 Eljay Ln, Ruskin, FL 33570

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    • Commercial real estate
    For Sale
    $4,000,000
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    9.57 Acres Mixed-Use Development Site For Sale
    $4,000,000
    9.57 Acres

    9.57 Acres Mixed-Use Development Site

    9.57 acres suitable for mixed-use development with utilities available.

    1808 Eljay Ln, Ruskin, FL
    View Listing
    Property ID
    US18-1189855
    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

    • Commercial real estate

    Property Details for 1808 Eljay Ln

    Property type
    Commercial real estate

    Description

    This exceptional 9.57-acre property in Ruskin, Florida, presents a compelling mixed-use development opportunity. Located at the southwest corner of 19th Avenue NE and Eljay Lane in Hillsborough County (zip code 33570), this mostly cleared parcel boasts 686 linear feet of frontage on 19th Avenue, a road with a high average daily traffic count of 15,200 vehicles. The land features two existing homes, both constructed in the 1980s, providing immediate potential for rental income or redevelopment. Surrounded by residential subdivisions, this site is ideally suited for a mixed-use development, incorporating townhomes and commercial spaces to serve the growing community. The property's ASC-1 zoning, with a Future Land Use designation of SMU-6, supports this vision. Utilities are readily available, and preliminary assessments suggest the absence of wetlands on the site. Its strategic location offers convenient access to I-75 and US 41, further enhancing its appeal to developers. The area is experiencing rapid growth, with new residential and Class-A industrial developments underway, making this a prime investment for future appreciation. The asking price is $4,000,000. This represents a unique chance to capitalize on the burgeoning Ruskin market and create a thriving mixed-use community.

    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
    Ruskin
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.4024061
    Latitude
    27.7326113

    Comparable in this City

    • $450,000
      2,346 SF

      Waterfront Double Lot Opportunity

      Approved waterfront double lot suitable for various development options.
      817 2Nd Ave Northwest, Ruskin, FL 33570
      View Details
    • Contact for pricing

      Ruskin Development Opportunity

      Land with rezoning potential for RV park or tiny homes.
      3350 39Th Ave SE, Ruskin, FL 33570
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    • $1,300,000
      4.68 Acres

      Tampa Development Opportunity: 4.68 Acres

      4.68-acre property in Tampa with residential and mixed-use zoning.
      301 E Shell Point Rd, Tampa, FL 33570
      View Details
    • Contact for pricing
      6,758 SF

      Ruskin Mixed-Use Commercial/Residential Building

      Two-story building with mixed-use potential in a visible location.
      100 E Shell Point Rd, Ruskin, FL 33570
      View Details
    • Contact for pricing
      2,262 SF

      Waterfront Homes with Income Potential

      Two waterfront homes with direct bay access and rental income.
      3225 W Shell Point Rd, Ruskin, FL 33570
      View Details

    Similar Nearby for Sale

    • $450,000
      2,346 SF

      Waterfront Double Lot Opportunity

      Approved waterfront double lot suitable for various development options.
      817 2Nd Ave Northwest, Ruskin, FL 33570
      View Details
    • Contact for pricing

      Ruskin Development Opportunity

      Land with rezoning potential for RV park or tiny homes.
      3350 39Th Ave SE, Ruskin, FL 33570
      View Details
    • $1,300,000
      4.68 Acres

      Tampa Development Opportunity: 4.68 Acres

      4.68-acre property in Tampa with residential and mixed-use zoning.
      301 E Shell Point Rd, Tampa, FL 33570
      View Details
    • Contact for pricing
      6,758 SF

      Ruskin Mixed-Use Commercial/Residential Building

      Two-story building with mixed-use potential in a visible location.
      100 E Shell Point Rd, Ruskin, FL 33570
      View Details
    • Contact for pricing
      2,262 SF

      Waterfront Homes with Income Potential

      Two waterfront homes with direct bay access and rental income.
      3225 W Shell Point Rd, Ruskin, FL 33570
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Ruskin Land Parcel For Rent

      Land available for rent in Ruskin, Florida.
      3350 Laurel Ridge Ave, Ruskin, FL 33570
      View Details
    • Contact for pricing

      Ruskin Land for Lease

      Up to 17 acres of land available for lease.
      1415 3Rd St NE, Ruskin, FL 33570
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available, approximately 11,945 square feet.
      1023 S Tamiami Trl, Ruskin, FL 33570
      View Details
    • $48,000

      Renovated Office Space For Rent

      Newly renovated commercial office space under a Gross Lease.
      205 W Shell Point Rd, Ruskin, FL 33570
      View Details
    View Listing
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    Ruskin, FL 33570
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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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