Corner Flex Space with
For Sale
$475,000
697 E ANDERSON Road, Groveland, FL 34736
Commercial Sale, GROVELAND, FL
Property Size1,677 SF
Lot Size0.44 Acres
Price / SF$283.24
Days on Market16
Property Features for 697 E ANDERSON Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Subdivision
GROVELAND
Directions
Take 50 W to 33 South 1/2 mile to Anderson Rd and mk rt. Property is the corner of 33 and Anderson
Standard status
Active
APN
24-22-24-1100-116-00600
Size
1,677 SF
Lot size
0.44 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
GROVELAND LOTS 6 7 & 8 SE'LY 10 FT OF LOT 9 BLK 116 LYING IN 19-22-25 PB 2 PG 7 ORB 5631 PG 2353
Tax Annual Amount
3969
Legal Description
GROVELAND LOTS 6 7 & 8 SE'LY 10 FT OF LOT 9 BLK 116 LYING IN 19-22-25 PB 2 PG 7 ORB 5631 PG 2353
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
slatwall paneling
updated flooring
multiple electrical outlets
large separate garage/storage area with roll-up door
fully fenced backyard
ample paved parking
Building Details
Year built
1987
Floors in Building
1
Flooring type
Laminate
Building materials
Wood Siding
Roof type
Shingle
Listing Agency:
RE/MAX TITANIUM GROUP · RE/MAX International
(352) 241-6363
Listed By:
Stephen Misciagno · License #3117607
(352) 874-6638
Added: Aug 25
Changed: Aug 30
Last Checked: Sep 9 at 1:06AM
MLS# G5116957
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 1,677-square-foot flex property sits on a 0.44-acre corner parcel and includes an adaptable commercial interior with laminate flooring, slatwall merchandising panels, and multiple electrical outlets. A separate garage and storage area with a roll-up door adds functional support space for deliveries, work areas, or inventory. The building was constructed in 1987 and features wood siding, a shingle roof, central heating and central air, and public water.
The property fronts Hwy 33 at 697 E Anderson Road in Groveland, with access from two roads and paved parking on site. It is approximately 0.5 miles south of Hwy 50 and includes a fully fenced rear yard. C-2 zoning, prominent road exposure, and the combination of open commercial space with enclosed storage support a range of retail, office, showroom, and service-oriented uses.
The property fronts Hwy 33 at 697 E Anderson Road in Groveland, with access from two roads and paved parking on site. It is approximately 0.5 miles south of Hwy 50 and includes a fully fenced rear yard. C-2 zoning, prominent road exposure, and the combination of open commercial space with enclosed storage support a range of retail, office, showroom, and service-oriented uses.
Key Highlights
- 0.44‑acre corner parcel with frontage on Hwy 33
- 1,677‑square‑foot commercial building constructed in 1987
- C‑2 zoning with dual‑road access and paved parking
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
$19,841
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
4.18%
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%
$396,820
$396.8K
Cap Rate 7%
$283,443
$283.4K
Cap Rate 9%
$220,456
$220.5K
Market Conditions
NOI Build-Up for 1,677 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
$30.2K $18.00/SF
− Vacancy
−$1.8K −$1.10/SF
EGI
$28.3K $16.90/SF
− OpEx
−$8.5K −$5.07/SF
NOI
$19.8K $11.83/SF
Area
Lake County, FL
Vacancy
6.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$396,820
Cap Rate 7%
$283,443
Cap Rate 9%
$220,456
Alternative Uses
Best Use
Retail
$283.4K
$248.0K – $330.7K
NOI $19,841 @ 7.0% cap · market cap 4.18%
Second Best
Industrial
$133.8K
$117.1K – $156.1K
NOI $9,368 @ 7.0% cap · market cap 1.97%
Theoretical Best
Office A
$477.2K
$417.6K – $556.8K
NOI $33,406 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
224
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 34736, FL
24,679
Population
10,029
Households
2.5
Avg Household Size
41
Median Age
32%
College-Educated
87%
High-School Grad
115.0 sq mi
ZIP Area
215
Density / Sq Mi
$82,478
Median Household Income
$42,322
Median Earnings
$1,535
Median Rent
$335,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- DonutNV — Groveland, FL 34736
Frequently Asked Questions
What type of property is this?
Flex space - C-2-zoned commercial property offers adaptable interior space, paved parking, and dual-road access.
Where is this flex space located?
The property is located at 697 E ANDERSON Road Groveland, FL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 0.44‑acre corner parcel with frontage on Hwy 33; 1,677‑square‑foot commercial building constructed in 1987; C‑2 zoning with dual‑road access and paved parking
