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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    19810 231st Dr High Springs, FL 32643-4089

    • High-rise multifamily apartments
    • 5,784 SF
    • 2.00 lot acres
    OFF-MARKET
    Last Sale
    Mar 01, 2022
    $3,043,900
    Value Estimations
    $2,595,000
    Show details
    Cap Rate Potential
    2.4%
    High-rise multifamily apartments
    Location Intelligence
    Property ID
    US18-3790970
    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

    • High-rise multifamily apartments

    Property Details for 19810 231st Dr

    Year built
    1999
    Construction
    WOOD
    Lot size
    2.00 lot acres
    Property size
    5,784 SF
    Zone code
    C1
    Property type
    High-rise multifamily apartments
    APN
    00236-040-000
    APU
    236040000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,390,000
      ML approach
      $2,475,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,030,000
      Market price range: $911k - $7.13M

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

    Location Insight

    • Map
    • Local Demand
    City
    High Springs
    County
    Alachua
    State
    Florida
    Longitude
    -82.5896
    Latitude
    29.8368
    CBSA code
    23540
    CBSA name
    GAINESVILLE, 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
    $46,212
    $90,578
    $1,669,522
    $1,760,100
    -
    $90,578
    $1,669,522
    $1,760,100

    Comparable in this City

    • Value Estimation
      $2,505,000
      2,337 SF

      23256 199th Pl

      HIGH-RISE APARTMENTS • 2,337 SF
      23256 199th Pl, High Springs, FL 32643-8767
      View Details
    • Value Estimation by Request
      3,881 SF

      20420 243rd Dr

      HIGH-RISE APARTMENTS • 3,881 SF
      20420 243rd Dr, High Springs, FL 32643-4522
      View Details
    • Value Estimation by Request
      2,509 SF

      24067 187 Rd

      Multifamily properties • 2,509 SF
      24067 187 Rd, High Springs, FL 32643
      View Details
    • Value Estimation by Request
      51.00 Acres

      25971 182Nd Ave

      Land • 51.00 Acres
      25971 182Nd Ave, High Springs, FL 32643
      View Details
    • Value Estimation by Request
      23.00 Acres

      0000 174Th Ave

      Land • 23.00 Acres
      0000 174Th Ave, High Springs, FL 32643
      View Details
    • Value Estimation by Request
      0.31 Acres

      1105 Main St

      VACANT COMMERCIAL LAND • 0.31 Acres
      1105 Main St, High Springs, FL 32643-2324
      View Details

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      High Springs Quadruplex Investment Opportunity

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    • $349,900
      23.00 Acres

      High Springs Residential Land - 23 Acres

      Prime 23-acre residential lot, High Springs, FL
      0000 174Th Ave, High Springs, FL 32643
      View Details
    • Contact for pricing

      Land For Sale

      Land available for purchase.
      00 NW 177Th Pl, High Springs, FL 32643
      View Details
    • $599,900

      Land For Sale

      Commercial land available for sale.
      18493 High Spg Main St, High Springs, FL 32643
      View Details

    Similar Nearby for Lease

    • $35,000

      High Springs MU-1 Land Lease

      MU-1 land available for long-term ground lease in High Springs.
      17825 NW Us Highway 441, High Springs, FL 32643
      View Details
    • Contact for pricing

      Highway Frontage Land For Lease

      Up to 5.62 acres available on Highway 441.
      16958 NW Us Highway 441, High Springs, FL 32643
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    • $47,400

      Retail Space For Rent

      Retail space available for lease.
      19808 N Us Highway 441, High Springs, FL 32643
      View Details
    • $15 SF/Yr
      5,956 SF

      High Springs Retail Space For Lease

      Downtown High Springs, 5,956 sq ft, Single Tenant
      18646 High Spring Main St, High Springs, FL 32643
      View Details
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    19810 231st Dr
    High Springs, FL 32643-4089
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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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