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    231 Spring Lake Hwy Brooksville, FL 34602

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    231 Spring Lake Hwy Brooksville, FL 34602

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    • Self storage facilities
    • 8,000 SF
    • 15.00 lot acres
    Off-Market
    Property ID
    US18-3357454
    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

    • Barry's Palms LLC / Food Processing Plant

    Property Details for 231 Spring Lake Hwy

    Lot size
    15.00 lot acres
    Property size
    8,000 SF
    Property type
    Self storage facilities

    Description

    This exceptional 15-acre Florida estate presents a unique investment opportunity, blending luxury living with diverse commercial potential. The property comprises three separately deeded parcels. The first features a 6,300-square-foot custom-built home with a guest house, pool, and extensive landscaping on five manicured acres. Amenities include a sunken living room with a two-story fireplace, a large kitchen, a double master suite, and a detached three-car garage. A second parcel encompasses a 4,000-square-foot climate-controlled warehouse with an office and bathroom, plus a barn, all situated on three acres. This warehouse is equipped with three-phase electric. The final parcel, a seven-acre palm tree farm, includes two barns and offers approximately 450 feet of Spring Lake Highway frontage. The entire property is enclosed by over 3,480 linear feet of vinyl fencing. Built in 2007 and 2019, the property includes eight buildings in total, spanning a combined 8,000 to 17,000 square feet. Two wells and two septic systems serve the property. Located in Brooksville, Florida (34602), this estate is conveniently situated five minutes from I-75, offering easy access to major transportation routes. The property's high elevation provides stunning views. This multi-use property is ideal for a variety of uses, from luxury residential to agricultural or commercial ventures. The asking price is $2,399,000. Square footage and acreage are approximate.

    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
    Brooksville
    County
    Hernando
    State
    Florida
    Longitude
    -82.3047271
    Latitude
    28.4402346

    Comparable in this City

    • $550,000
      5.01 Acres

      5.1 Acres on Cortez Blvd

      Fenced 5.1-acre parcel zoned AG with utilities available.
      27360 Cortez Blvd, Brooksville, FL 34602
      View Details
    • $610,000
      9.96 Acres

      9.96 Acres of Pasture Land

      9.96 acres of grazing land with lake frontage near Tampa.
      Church Rd, Brooksville, FL 34602
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    • $550,000
      5.01 Acres

      5.1-Acre Fenced Land Parcel

      5.1-acre fenced parcel with utilities on Cortez Blvd, Brooksville.
      27360 Cortez Blvd, Brooksville, FL 34602
      View Details
    • Contact for pricing

      8.7 Acres with Warehouse Building

      Versatile 8.7-acre property with a 4,536 SF building.
      6220 White Rd, Brooksville, FL 34602
      View Details
    • Contact for pricing

      Signalized Corner Lot For Sale

      Hard corner lot near I-75 and Walmart Distribution Center.
      31170 Cortez Blvd, Brooksville, FL 34602
      View Details

    Similar Nearby for Sale

    • $550,000
      5.01 Acres

      5.1 Acres on Cortez Blvd

      Fenced 5.1-acre parcel zoned AG with utilities available.
      27360 Cortez Blvd, Brooksville, FL 34602
      View Details
    • $610,000
      9.96 Acres

      9.96 Acres of Pasture Land

      9.96 acres of grazing land with lake frontage near Tampa.
      Church Rd, Brooksville, FL 34602
      View Details
    • $550,000
      5.01 Acres

      5.1-Acre Fenced Land Parcel

      5.1-acre fenced parcel with utilities on Cortez Blvd, Brooksville.
      27360 Cortez Blvd, Brooksville, FL 34602
      View Details
    • Contact for pricing

      8.7 Acres with Warehouse Building

      Versatile 8.7-acre property with a 4,536 SF building.
      6220 White Rd, Brooksville, FL 34602
      View Details
    • Contact for pricing

      Signalized Corner Lot For Sale

      Hard corner lot near I-75 and Walmart Distribution Center.
      31170 Cortez Blvd, Brooksville, FL 34602
      View Details
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    Brooksville, FL 34602
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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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