Flex Space with Dual Roll-Up
For Sale
$169,900
512 S Main Avenue, Lake Placid, FL 33852
Commercial, Lake Placid, FL
Property Size1,320 SF
Lot Size0.05 Acres
Price / SF$128.71
Days on Market47
Property Features for 512 S Main Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C2
Parking
2
Interior features
High Ceilings (9'+)
Directions
US 27 then West on Interlake Blvd. Left at red light on Main Ave to building on the left. The unit is the middle in a 3 unit building.
Standard status
Active
APN
P-06-37-30-040-0230-0130
Size
1,320 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
2ND SUB HOFFMANS GROVE PB1-PG 96 PORT OF LOTS 12-13-14 BLK 23 PER OR 756-PG 796
Tax Annual Amount
1373
Legal Description
2ND SUB HOFFMANS GROVE PB1-PG 96 PORT OF LOTS 12-13-14 BLK 23 PER OR 756-PG 796
Building Details
Year built
1983
Building materials
Concrete Block
Listing Agency:
Paradise Real Estate International LLC
(863) 272-7540
Listed By:
Debbie McCullough
(863) 441-1319
Added: Aug 11
Changed: Sep 8
Last Checked: Sep 26 at 4:06AM
MLS# 327155
Copyright © 2026 Heartland Multiple Listing Service, Inc. 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 1,320-square-foot flex space is a concrete block building constructed in 1983, with an open interior measuring 22' x 60'. The property includes 15.5' ceilings, a half bath, utility sink, and an elevated 4' x 24' storage rack. A 12' roll-up door serves the front, while a second 10' roll-up door opens to the rear alley. The building is zoned C2 and occupies 0.05 acres.
Located at 512 S Main Avenue in Lake Placid, the property offers access from S. Main Avenue and the rear alley. Its prior uses included golf cart sales and service and a sign shop. The front opening also accommodates storage of a motorhome, camper, boat, or other recreational vehicle.
Located at 512 S Main Avenue in Lake Placid, the property offers access from S. Main Avenue and the rear alley. Its prior uses included golf cart sales and service and a sign shop. The front opening also accommodates storage of a motorhome, camper, boat, or other recreational vehicle.
Key Highlights
- 1,320‑square‑foot concrete block building on 0.05 acres
- Open 22' x 60' interior with 15.5' ceilings
- 12' front roll‑up door and 10' rear roll‑up door
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
$8,716
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
5.13%
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%
$174,320
$174.3K
Cap Rate 7%
$124,514
$124.5K
Cap Rate 9%
$96,844
$96.8K
Market Conditions
NOI Build-Up for 1,320 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
$10.8K $8.16/SF
− Vacancy
−$517 −$0.39/SF
EGI
$10.3K $7.77/SF
− OpEx
−$1.5K −$1.17/SF
NOI
$8.7K $6.60/SF
Area
Highlands County, FL
Vacancy
4.80%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
15.00%
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%
$174,320
Cap Rate 7%
$124,514
Cap Rate 9%
$96,844
Alternative Uses
Best Use
Warehouse
$124.5K
$109.0K – $145.3K
NOI $8,716 @ 7.0% cap · market cap 5.13%
Second Best
Flex RnD
$124.2K
$108.7K – $144.9K
NOI $8,696 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$274.6K
$240.3K – $320.4K
NOI $19,223 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
15 ft
Clear height
2
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
616
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33852, FL
21,635
Population
12,991
Households
1.7
Avg Household Size
55
Median Age
20%
College-Educated
85%
High-School Grad
293.4 sq mi
ZIP Area
74
Density / Sq Mi
$54,841
Median Household Income
$39,658
Median Earnings
$1,063
Median Rent
$205,800
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 - C2-zoned concrete block facility offers open workspace, utility features, and overhead storage.
Where is this flex space located?
The property is located at 512 S Main Avenue Lake Placid, FL.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: 1,320‑square‑foot concrete block building on 0.05 acres; Open 22' x 60' interior with 15.5' ceilings; 12' front roll‑up door and 10' rear roll‑up door
