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    3670 SE 148Th Ter Morriston, FL 32668
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    3670 SE 148Th Ter Morriston, FL 32668

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    • Commercial real estate
    • 1,047 SF
    • 20.00 lot acres
    For Sale
    $999,000
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    Morriston Farm in Equine Community For Sale
    $999,000
    1,047 SF

    Morriston Farm in Equine Community

    20+ acre farm in gated equine community near Ocala.

    3670 SE 148TH TERRACE, Morriston, FL 32668
    View Listing
    Property ID
    US18-3881936
    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 3670 SE 148Th Ter

    Year built
    2000
    Lot size
    20.00 lot acres
    Property size
    1,047 SF
    Property type
    Commercial real estate

    Description

    This exceptional 20-acre farm in Morriston, Florida, is listed at $999,000. Situated within the gated Oak Ridge Training Center, this property boasts gently rolling land with mature oak trees. The main structure is a 20-stall shedrow barn, complete with a hot water wash rack and a barn apartment (suitable for use as an office). Five paddocks, each equipped with automatic waterers, and a round pen are included. An RV hookup provides additional on-site living options. The property also benefits from access to Oak Ridge Training Center's amenities, including a one-mile lighted dirt track with a six-stall starting gate meeting current racing standards, and a 7/8-mile lighted turf track. Both tracks undergo meticulous maintenance, including yearly stripping, checking, and regrading. The property's 1,047 square feet of building space is zoned A-1. Conveniently located near Ocala and Gainesville, this farm offers easy access to various equine services and retailers. This prime location in the "Horse Capital of the World" provides proximity to the Ocala Breeders' Sales, making it an excellent investment opportunity for those seeking a thriving equine operation. The property was built in 2000.

    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
    Morriston
    County
    Levy
    State
    Florida
    Longitude
    -82.5254676
    Latitude
    29.2903322

    Comparable in this City

    • $4,500,000
      78.00 Acres

      Ocala Equestrian Estate

      78 Acres, Premier Horse Facility
      14091 Highway 326, Morriston, FL 32668
      View Details
    • $325,000
      10.25 Acres

      Morriston Land with Open Canvas

      10 acres of land ready for homestead or mini-farm.
      SE 150Th Ave, Morriston, FL 32668
      View Details
    • $1,399,900
      2,637 SF

      Serene Equine Retreat

      Private 14-acre farm with equestrian facilities and updated home.
      Unknown, Morriston, FL 32668
      View Details
    • $999,000
      1,047 SF

      Morriston Farm in Equine Community

      20+ acre farm in gated equine community near Ocala.
      3670 SE 148Th Ter, Morriston, FL 32668
      View Details

    Similar Nearby for Sale

    • $4,500,000
      78.00 Acres

      Ocala Equestrian Estate

      78 Acres, Premier Horse Facility
      14091 Highway 326, Morriston, FL 32668
      View Details
    • $325,000
      10.25 Acres

      Morriston Land with Open Canvas

      10 acres of land ready for homestead or mini-farm.
      SE 150Th Ave, Morriston, FL 32668
      View Details
    • $1,399,900
      2,637 SF

      Serene Equine Retreat

      Private 14-acre farm with equestrian facilities and updated home.
      Unknown, Morriston, FL 32668
      View Details
    • $999,000
      1,047 SF

      Morriston Farm in Equine Community

      20+ acre farm in gated equine community near Ocala.
      3670 SE 148Th Ter, Morriston, FL 32668
      View Details
    View Listing
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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.

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