Lecanto Adaptive Reuse
97 W Gulf To Lake Highway Lecanto, FL 34461
SINGLE_FAMILY - Lecanto, FL
Type:Retail
Property size:
22,810 SFLot size:
1.98 AcresPrice / SF:
$129/SF- Added:
- May 18, 2026
- Days on Market:
- 55
- Last Refresh:
- Jul 11 at 5:06 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
- Membrane, Flat, Rubber
Listing agent Elias Kirallah License #3123414 (352) 400-2635
Listing office Century 21 J.W.Morton R.E. 1645 W Main Street, Inverness, FL (352) 726-6668
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.
Investment Insights
Based on property information with market context.
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.
Key Highlights
- +/-22,810 SF reinforced concrete block building with clear‑span showroom/warehouse layout plus optional multi‑tenant configuration
- Interior includes 3 suites: +/-1,500 SF retail, +/-2,000 SF retail, and +/-18,310 SF showroom/warehouse (can be combined or kept separate)
- +/-2.00 acres of GNC‑zoned land with 51 parking spaces and approximately 345 ft of frontage on SR‑44 / Gulf to Lake Highway
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $342.2k | $15.00 |
| − Vacancy | −$29.1k | −$1.28 |
| EGI | $313.1k | $13.73 |
| − OpEx | −$93.9k | −$4.12 |
| NOI | $219.1k | $9.61 |
22,810 SF · lease $15.00/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Healthcare Medical
$4.56M
$3.99M – $5.32M
NOI $318,963 @ 7.0% cap · market cap 10.83%
Second Best
Retail
$3.13M
$2.74M – $3.65M
NOI $219,147 @ 7.0% cap · market cap 7.44%
Theoretical Best
Specialty Retail
$5.13M
$4.48M – $5.98M
NOI $358,775 @ 7.0% cap · market cap 12.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Smart Interiors II ...
Interior Design
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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.
What are key features of this property?
This property features: +/-22,810 SF reinforced concrete block building with clear‑span showroom/warehouse layout plus optional multi‑tenant configuration; Interior includes 3 suites: +/-1,500 SF retail, +/-2,000 SF retail, and +/-18,310 SF showroom/warehouse (can be combined or kept separate); +/-2.00 acres of GNC‑zoned land with 51 parking spaces and approximately 345 ft of frontage on SR‑44 / Gulf to Lake Highway
