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    Lecanto Adaptive Reuse Opportunity Title is generated by Realmo AI

    97 W Gulf To Lake Highway, Lecanto, FL 34461

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    For Sale
    $2,944,000

    SINGLE_FAMILY - Lecanto, FL

    Type:Retail
    Property size:
    22,810 SF
    Lot size:
    1.98 Acres
    Price / SF:
    $129/SF
    Added:
    May 18, 2026
    Days on Market:
    4
    Last Refresh:
    May 21 at 2:06 am

    Property Features for 97 W Gulf To Lake Highway

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Zoning
    GNC
    Parking
    51
    Interior features
    HandicapAccess, HighCeilings
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    1496527
    Size
    22,810 SF
    Lot size
    1.98 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    W1/2 OF SE1/4 OF SE1/4 OF NE1/4 N OF HWY 44 ---LESS--- OUTS: BEG AT THE INTER OF THE E LN OF THE NE 1/4 OF SEC 1 T19S R18E AND THE CL OF SURVEY OF ST RD 44 (SD PT BEING 446.82 FT N 00S 08M 04S W OF THE E 1/4 COR OF SD SEC 1) AS SHOWN ON ST OF FLA DEP OF TRANSPORTATION ROW MAP SEC NO 02050-2534 TH AL SD CL OF SURVEY S 75D 23M 30S W 1362.84 FT TO THE W LN OF THE SE 1/4 OF THE NE 1/4 OF SD SEC 1 TH AL SD W LN N 00D 08M 41S W 101.20 FT TO A PT 98 FT N OF SD CL OF SURVEY (MEASURED PERP) TH S 22D 34M 42S E 30.29 FT TO A LN 68 FT N OF AND PAR W/ SD CL OF SURVEY TH AL SD PAR LN N 75D 23M 30S E 1325.11 FT TH N 12S 08M 27S E 47.03 FT TO A PT ON THE W LN OF THE E 15 FT OF SD NE 1/4 OF SEC 1 (SD PT BEING ON A LN 110 FT N OF SD PAR W/SD CL OF SURVEY) TH
    Tax Annual Amount
    22572

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2004
    Floors in Building
    1
    Flooring type
    Laminate, Slate
    Building materials
    Stucco
    Roof type
    Flat, Rubber, Membrane

    We can help!

    Listing Contact
    Elias Kirallah
    Elias Kirallah

    Listing agent Elias Kirallah License #3123414

    Listing office Century 21 J.W.Morton R.E. 1645 W Main Street, Inverness, FL

    Listing date May 18, 2026

    MLS# 854875

    Copyright © 2026 REALTORS Association of Citrus County, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    This property presents an adaptive reuse opportunity with a reinforced concrete block building of approximately 22,810 square feet. The building features a clear-span showroom/warehouse configuration designed for operational flexibility. Currently, the interior is arranged into three suites: approximately 1,500 square feet of retail space, approximately 2,000 square feet of retail space, and approximately 18,310 square feet of showroom/warehouse space. These suites can function independently or be combined into one contiguous facility. Situated on approximately 2.00 acres of General Neighborhood Commercial (GNC) zoned land, the property includes 51 parking spaces. It is strategically located along SR-44 / Gulf to Lake Highway, offering approximately 345 feet of high-visibility frontage, strong east-west exposure, and traffic counts exceeding 25,500 AADT. Right-in / right-out access ensures convenient ingress. A 32-foot-wide dock-high truck well, equipped with an 8' x 10' roll-up door and portable dock leveler, provides efficient loading. Ceiling heights range from approximately 18 feet in the front showroom area to 15 feet in the rear loading area. The building is supported by robust electrical infrastructure, including approximately 1,200-amp three-phase power with a distributed reduction system. The property is suited for a regional medical or healthcare campus, medical imaging center, outpatient surgery facility, or specialized wellness services. The clear-span layout, dock-high loading capability, and substantial power capacity support light manufacturing, fabrication, cabinetry and millwork production, equipment assembly, and specialty trade operations. The facility is also attractive for e-commerce fulfillment, regional distribution, and showroom-to-production hybrid users. The ability to maintain separated suites or combine the building into a single operational footprint allows for phased occupancy, multi-tenant configurations, or fully integrated operations. General Neighborhood Commercial zoning allows for a broad spectrum of uses including general retail, multi-use commercial, professional and medical offices, emergency service facilities, regional medical facilities, nursing homes, and assisted living. Additional conditional uses, subject to Planned Unit Development (PUD) approval, may include light manufacturing, warehousing, distribution, and other compatible commercial applications.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Smart Interiors II ... Interior Design

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Auto Parts Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lecanto
    County
    Citrus
    State
    Florida
    Longitude
    -82.436176
    Latitude
    28.857362

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    FAQs

    What type of property is this?
    Mixed-use property - 22,810 SF building on 2 acres in Lecanto, FL.
    Where is this mixed-use property located?
    The property is located at 97 W Gulf To Lake Highway Lecanto, FL.
    What is the asking price?
    The asking price for this property is $2,944,000.
    (352) 400-2635
    We can help!
    Listing Contact
    Elias Kirallah
    Elias Kirallah
    Real Estate License ID: 3123414
    Learn More
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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.

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