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    240 Fenway Dr Hernando, FL 34442-5139

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    240 Fenway Dr Hernando, FL 34442-5139

    View on Map
    • Golf courses & driving ranges
    • 16,586 SF
    • 6.61 lot acres
    Off-Market
    Property ID
    US18-4452009
    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
    $715,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Citrus Hills Activity Center / Nightclub / Music Venue

    Property Details for 240 Fenway Dr

    Year built
    1999
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    6.61 lot acres
    Property size
    16,586 SF
    Zone code
    PDR PLANNED DEVELOPMENT(S
    Property type
    Golf courses & driving ranges
    APN
    18E-18S-25-0060-00F.0
    APU
    18E18S25006000F0

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $430,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,000,000
      Market price range: $996k - $6.04M

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

    Location Insight

    • Map
    • Local Demand
    City
    Hernando
    County
    Citrus
    State
    Florida
    Longitude
    -82.4382
    Latitude
    28.8913
    CBSA code
    26140
    CBSA name
    HOMOSASSA SPRINGS, FL MICROPOLITAN 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
    $39,595
    $43,400
    $2,560,864
    $2,604,264
    -
    $43,400
    $2,560,864
    $2,604,264

    Comparable in this City

    • Value Estimation by Request
      168 SF

      1136 Annapolis Ave

      GOLF COURSE • 168 SF
      1136 Annapolis Ave, Hernando, FL 34442
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    • Value Estimation by Request
      656 SF

      2100 Terra Vis Blvd

      COUNTRY CLUB • 656 SF
      2100 Terra Vis Blvd, Hernando, FL 34442-6150
      View Details
    • Value Estimation by Request
      3,005 SF

      2875 Folkestone Loop

      COUNTRY CLUB • 3,005 SF
      2875 Folkestone Loop, Hernando, FL 34442-5462
      View Details
    • Value Estimation by Request
      2.00 Acres

      505 Hartford St

      GOLF COURSE • 2.00 Acres
      505 Hartford St, Hernando, FL 34442-3347
      View Details
    • Value Estimation
      $795,000
      4,176 SF

      2757 Frst Rdg Blvd

      COUNTRY CLUB • 4,176 SF
      2757 Frst Rdg Blvd, Hernando, FL 34442-5257
      View Details
    • Value Estimation by Request
      4,165 SF

      4215 Lk Vis Trl

      COUNTRY CLUB • 4,165 SF
      4215 Lk Vis Trl, Hernando, FL 34442-5547
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.19 Acres

      Corner Lot in River Lakes

      Residential corner lot in Hernando, Florida, with no HOA.
      3798 E Tulipwood Ln, Hernando, FL 34442
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    • $50,000
      0.50 Acres

      Large Lot in Canterbury Estates

      Half-acre lot perfect for building a dream home or investment.
      2856 E Chartwell Cir, Hernando, FL 34442
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    • $227,900
      2.65 Acres

      Land on Oakwood Island

      2.65 acres of land for building or investment.
      4351 E Mate Ln, Hernando, FL 34442
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease.
      2400-2492 N Heritage Oaks Path, Hernando, FL 34442
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space in Hernando, FL

      Retail property for lease in a high-traffic location.
      2456-2488 N Heritage Oaks Path, Hernando, FL 34442
      View Details
    • Contact for pricing
      2,400 SF

      Office Space Available For Rent

      Office space available for rent in Hernando, Florida.
      2480 North Heritage Oaks Path, Hernando, FL 34442
      View Details
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    Hernando, FL 34442-5139
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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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