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    Property profile & analytics

    9429 Us Highway 27 Fort White, FL 32038

    • Retail space
    • 3,567 SF
    • 2.00 lot acres
    For Sale
    View listing
    $2,750,000
    Last Sale
    Apr 12, 2022
    $155,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4071418
    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

    • Retail space

    Property Details for 9429 Us Highway 27

    Year built
    1974
    Construction
    FRAME
    Lot size
    2.00 lot acres
    Property size
    3,567 SF
    Zone code
    CG
    Property type
    Retail space
    APN
    29-6S-16-03969-005
    APU
    296S1603969005

    Description

    Exceptional investment opportunity: Sweetwater Campground, a fully entitled 14-unit turnkey RV park in Fort White, Florida (32038), is now available for $2,750,000. This Class B property boasts a 75% occupancy rate, generating a Pro-Forma NOI of $328,056 and a Pro-Forma Cap Rate of 11.93%. Situated on 2 acres near the popular Ichetucknee Springs, this prime location ensures high demand. The property includes 14 fully furnished cabins, offering immediate revenue generation from camping fees and potential for additional amenities. The property is zoned A-3 and features a convenient location on 9429 SW US Highway 27. The asking price of $2,750,000 equates to $196,428.57 per unit. This turnkey operation presents a compelling investment opportunity with a strong potential for return. Fully entitled plans and land-only options are also available. The APN is 29-6S-16-03969-005. This is a rare opportunity to acquire a thriving RV park in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $135,000
      ML approach
      $135,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $154,000
      Market price range: $105k - $474k
      AI Estimate
      $126,000
      Market price range: $127k - $345k

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort White
    County
    Columbia
    State
    Florida
    Longitude
    -82.7364
    Latitude
    29.939
    CBSA code
    29380
    CBSA name
    LAKE CITY, 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
    $1,864
    $36,000
    $58,710
    $94,710
    -
    $36,000
    $58,710
    $94,710

    Comparable in this City

    • Value Estimation
      $280,000
      2,534 SF

      163 Coulter Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,534 SF
      163 Coulter Ave, Fort White, FL 32038-3409
      View Details
    • Value Estimation
      $270,000
      2,140 SF

      7729 Us Hwy 27

      RETAIL STORES (PERSONAL SERVICES) • 2,140 SF
      7729 Us Hwy 27, Fort White, FL 32038-3508
      View Details
    • Value Estimation
      $265,000
      2,074 SF

      7196 Us Hwy 27

      RETAIL STORES (PERSONAL SERVICES) • 2,074 SF
      7196 Us Hwy 27, Fort White, FL 32038-3391
      View Details
    • Value Estimation
      $270,000
      1,760 SF

      8547 Us Hwy 27

      RETAIL STORES (PERSONAL SERVICES) • 1,760 SF
      8547 Us Hwy 27, Fort White, FL 32038-4804
      View Details
    • Value Estimation
      $235,000
      5,994 SF

      8877 Us Hwy 27

      RETAIL STORES (PERSONAL SERVICES) • 5,994 SF
      8877 Us Hwy 27, Fort White, FL 32038-4810
      View Details
    • Value Estimation
      $315,000
      4,704 SF

      1238 County Rd 138

      RETAIL STORES (PERSONAL SERVICES) • 4,704 SF
      1238 County Rd 138, Fort White, FL 32038
      View Details

    Similar Nearby for Sale

    • $1,200,000
      1,920 SF

      Thriving Campground and RV Resort

      Campground and RV resort with store near Ichetucknee Springs.
      8587 SW Elm Church Rd, Fort White, FL 32038
      View Details
    • $146,000
      12.23 Acres

      12.23 Acres in Fort White

      12.23 acre property in Fort White, Florida with mature pines.
      SW Coles Ct, Fort White, FL 32038
      View Details
    • New
      $230,000
      6.64 Acres

      Fort White Land with River Access

      6.641-acre lot suitable for residential or recreational use.
      Tbd Utah & Riverside, Fort White, FL 32038
      View Details
    • $425,460
      30.39 Acres

      Fort White Acreage Near River

      Large acreage near Three Rivers Estates, suitable for development.
      843 SW Illinois St, Fort White, FL 32038
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    • $40,000
      0.92 Acres

      Residential Lot in Three Rivers

      Wooded lot with river access in Three Rivers Estates.
      45 SW Kentucky St, Fort White, FL 32038
      View Details
    • $40,000
      0.92 Acres

      Residential Lot in Three Rivers

      Wooded residential lot with river access in Three Rivers.
      44 SW Kentucky St, Fort White, FL 32038
      View Details
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    9429 Us Highway 27
    Fort White, FL 32038
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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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