Flex Building with
For Sale
$375,000
2018 N FLORIDA Avenue, Hernando, FL 34442
Commercial Sale, HERNANDO, FL
Property Size2,960 SF
Lot Size0.25 Acres
Price / SF$126.69
Days on Market375
Property Features for 2018 N FLORIDA Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
GNC
Directions
from Inverness take 41 towards Ocala property on left
Subdivision
34442 - Hernando
Standard status
Active
APN
19E-18S-26-0000-2A000-0010
Size
2,960 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
COM AT SE COR SEC 26-18-19 TH N AL E BDRY OF DIST 1547.94 FT TO PT ON SW'LY R/W LN OF US HWY 41 TH N 29 DEG 55M 20S W AL R/W 50 FT FROM & PAR WITH CTRLN OF HWY DIST 50 FT TO POB TH N 29 DEG 55M 20S W AL R/W 50 FT FROM & PAR WITH CTRLN DIST 100 FT TH S 60 DEG 4M 40S W 112.12 FT TO PT ON NE'LY R/W LN OF SCL RR TH S 32 DEG 20M 6S E AL R/W 50 FT FROM & PAR WITH CTRLN OF RR DIST 100.09 FT TH N 60 DEG 4M 40S E 107.91 FT TO POB TITLE IN OR BK 2286 PG 406 OR BK 2292 PG 2036
Tax Annual Amount
2139
Legal Description
COM AT SE COR SEC 26-18-19 TH N AL E BDRY OF DIST 1547.94 FT TO PT ON SW'LY R/W LN OF US HWY 41 TH N 29 DEG 55M 20S W AL R/W 50 FT FROM & PAR WITH CTRLN OF HWY DIST 50 FT TO POB TH N 29 DEG 55M 20S W AL R/W 50 FT FROM & PAR WITH CTRLN DIST 100 FT TH S 60 DEG 4M 40S W 112.12 FT TO PT ON NE'LY R/W LN OF SCL RR TH S 32 DEG 20M 6S E AL R/W 50 FT FROM & PAR WITH CTRLN OF RR DIST 100.09 FT TH N 60 DEG 4M 40S E 107.91 FT TO POB TITLE IN OR BK 2286 PG 406 OR BK 2292 PG 2036
Utilities
Sewer type
Septic Tank
Cooling system
Central Air
Water source
Well
Building Details
Year built
1970
Floors in Building
1
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
LANDMARK REALTY
(352) 726-5263
Listed By:
Janet Bega · License #3162684
(352) 400-0529
Added: Sep 5, 2025
Changed: Aug 27
Last Checked: Sep 14 at 3:06PM
MLS# G5101739
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2960-square-foot flex property in Hernando combines customer-facing and work-oriented space within a metal-sided, metal-roofed building constructed in 1970. The layout includes six offices or rooms, built-in desks and cabinets, a kitchen area, two bathrooms, and two sales areas. A warehouse and garage section adds three bay doors and a separate office. Central air, well water, and a septic tank serve the property.
The offering also includes the adjacent lot, which carries GNC zoning and may support additional parking, storage, or a separate business use. The property fronts Highway 41 for 200 feet, providing direct highway access and exposure. Two businesses currently occupy the main building, including retail and sign fabrication/car restoration operations.
The offering also includes the adjacent lot, which carries GNC zoning and may support additional parking, storage, or a separate business use. The property fronts Highway 41 for 200 feet, providing direct highway access and exposure. Two businesses currently occupy the main building, including retail and sign fabrication/car restoration operations.
Key Highlights
- 2960‑square‑foot flex building with office, sales, kitchen, warehouse, and garage areas
- 200 feet of frontage on Highway 41
- Six offices or rooms, two sales areas, kitchen, and two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,926
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$678,520
$678.5K
Cap Rate 7%
$484,657
$484.7K
Cap Rate 9%
$376,956
$377.0K
Market Conditions
NOI Build-Up for 2,960 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$56.1K $18.96/SF
− Vacancy
−$3.9K −$1.33/SF
EGI
$52.2K $17.63/SF
− OpEx
−$18.3K −$6.17/SF
NOI
$33.9K $11.46/SF
Area
Citrus County, FL
Vacancy
7.00%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$678,520
Cap Rate 7%
$484,657
Cap Rate 9%
$376,956
Alternative Uses
Best Use
Flex RnD
$484.7K
$424.1K – $565.4K
NOI $33,926 @ 7.0% cap · market cap 9.05%
Second Best
Retail
$406.3K
$355.5K – $474.0K
NOI $28,438 @ 7.0% cap · market cap 7.58%
Theoretical Best
Specialty Retail
$665.1K
$582.0K – $776.0K
NOI $46,557 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
127
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 34442, FL
16,759
Population
9,852
Households
1.7
Avg Household Size
63
Median Age
27%
College-Educated
95%
High-School Grad
36.4 sq mi
ZIP Area
460
Density / Sq Mi
$55,473
Median Household Income
$36,864
Median Earnings
$965
Median Rent
$295,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial building with office, sales, kitchen, warehouse, and garage areas.
Where is this flex space located?
The property is located at 2018 N FLORIDA Avenue Hernando, FL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 2960‑square‑foot flex building with office, sales, kitchen, warehouse, and garage areas; 200 feet of frontage on Highway 41; Six offices or rooms, two sales areas, kitchen, and two bathrooms
