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    The Largest CRE Database in the US with Over 1 Million Listings

    12421 Handy Ter Dunnellon, FL 34433

    Sponsored
    For Sale
    $128,800

    Fixer-upper retail space, prime river location.

    Property size:
    990 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    355
    This 990-square-foot commercial property, situated on a 0.13-acre lot at 12421 N Handy Terrace in Dunnellon, Florida, presents a unique investment opportunity. The building, constructed in 1950, requires significant renovations. Currently in poor condition, it was originally a three-bedroom residence, offering potential for conversion into an income-generating property. Its location on the southwest side of the Withlacoochee River, approximately 535 feet of river frontage, provides exceptional visibility and access. The General Commercial zoning allows for a variety of uses, including but not limited to: vacation cottages, watercraft rentals, retail shops (grocery, clothing, hardware), service businesses (hair salon, auto repair), and professional offices. The property benefits from its proximity to downtown Dunnellon (five minutes away), offering easy access to dining, shopping, and other services. The area's popularity for kayaking and boating, with convenient access to the Rainbow and Withlacoochee Rivers, further enhances its appeal. A boat ramp is located directly across the river, along with the Blue Gator Bar & Restaurant. Dunnellon's rapid growth makes this a particularly attractive investment for those seeking a short-term rental, primary residence, or vacation cottage opportunity. The property's location at the confluence of two rivers offers stunning scenery and recreational opportunities. The asking price is $128,800.

    Property Features for 12421 Handy Ter

    General Information

    Property type
    Retail properties
    Square Feet
    990 SF
    Lot Size
    5,663 SF

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    Marti Winfield

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail properties

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Dunnellon
    County
    Citrus
    State
    Florida
    Longitude
    -82.46634
    Latitude
    29.04501

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    FAQs

    What type of property is this?
    Retail property - Fixer-upper retail space, prime river location.
    Where is this retail property located?
    The property is located at 12421 Handy Ter Dunnellon, FL.
    What is the asking price?
    The asking price for this property is $128,800.
    (352) 369-4044
    Request Owner's contact information
    12421 Handy Ter Dunnellon, FL 34433
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    Dunnellon, FL 34433
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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.

    More about this property
    12421 Handy Ter Dunnellon, FL 34433
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    We can help!
    Listing Contact
    Marti Winfield
    (352) 369-4044
    Learn more
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