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    Property profile & analytics

    609 Circle Rd Madison, FL 32340

    • Commercial real estate
    • 18.84 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4900275
    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

    • Commercial real estate

    Property Details for 609 Circle Rd

    Lot size
    18.84 lot acres
    Property type
    Commercial real estate

    Description

    Exceptional 18.84-acre hunting and recreational property located at 609 NW Cir Rd, Madison, FL 32340. This meticulously maintained property includes a three-bedroom, two-bathroom home. Enjoy the convenience of a two-car carport, a workshop, and an RV shed. The expansive outdoor living area is perfect for entertaining. Situated minutes from Cherry Lake, offering easy access to fishing and boating. The property's location between Madison, FL and Quitman, GA provides a blend of rural peace and convenient access to amenities. Abundant wildlife, including deer and turkey, frequents the area. This property presents a unique opportunity to own a tranquil retreat in a picturesque setting. The asking price is $519,000. Madison County location provides a peaceful escape while remaining close to local conveniences. The property offers a combination of comfortable living and ample space for outdoor pursuits.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Madison
    State
    Florida
    Longitude
    -83.4586781
    Latitude
    30.6024746

    Comparable in this City

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      93 Acres Hunting & Recreational Land

      Prime hunting and recreational land in Madison County, Florida.
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    • $375,000
      0.89 Acres

      Lakefront Lot on Cherry Lake

      Lakefront lot with well, septic, and dock piers on Cherry Lake.
      1537 NE Cherry Lake Cir, Madison, FL 32340
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    • $512,400

      48.8 Acres with Planted Pines

      Land parcel with planted pines, suitable for farming/development.
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    • $205,000

      Land For Sale

      Land available for purchase.
      9122 SW Tower Rd, Madison, FL 32340
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    • New
      $160,000
      21.06 Acres

      21 Acres in Madison County

      21 acres in Madison County, Florida, perfect for various uses.
      SE Rogers Sink Rd, Madison, FL 32340
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    Similar Nearby for Sale

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      Hike Lake Hunting Preserve: 940 Acres

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      2.51 acres, A-1 zoning, ideal for animals and seclusion.
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    • $2,500,000

      Commercial Land For Sale

      Commercial land available for sale.
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    • $945,000
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      Land Parcel on US Hwy 90

      15+/- acre parcel suitable for residential or commercial development.
      West Us Highway 90, Madison, FL 32340
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    • Contact for pricing
      0.23 Acres

      Corner Lot in Madison, FL

      Vacant corner lot suitable for single-family home or duplex.
      SW M L King Jr Dr, Madison, FL 32340
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    • $315,000
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      Prime Hunting and Recreation Land

      30 acres of North Florida land perfect for outdoor adventures.
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      View Details
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    609 Circle Rd
    Madison, FL 32340
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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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