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Commercial Property on Highway 41

2018 N Florida Avenue, Hernando, FL 34442

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For Sale

$375,000

Two commercial properties in high-traffic area, excellent visibility.

Type:Retail

Property size:

2,960 SF

Price / SF:

$126/SF

HighLights

Two commercial properties for the price of one in a high‑traffic area.
200 feet of frontage on Highway 41 providing excellent visibility and accessibility.
Versatile main building with six offices/rooms, kitchen, two bathrooms, and two sales areas.
Warehouse/garage area with three bay doors and an office.
Included adjacent lot zoned GNC for additional parking, storage, or business use.
Zoning allows for RV Parking.

We can help!

Listing Contact

Sheila Bensinger

For Sale

$375,000

Two commercial properties in high-traffic area, excellent visibility.

Type:Retail

Property size:

2,960 SF

Price / SF:

$126/SF

Added:: Jan 30, 2024
Days on Market:: 864
Last Refresh:: May 12 at 9:46 pm

Property Features for 2018 N Florida Avenue

General Information

Standard status: Active
Size: 2,960 SF
Property subtype: Retail

Building Details

Year Built: 1970

We can help!

Listing Contact

Sheila Bensinger

Listing agent Sheila Bensinger

Listing office Landmark Realty

Listing date Jan 30, 2024

Source Xome

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Landmark Realty

HighLights

Two commercial properties for the price of one in a high‑traffic area.
200 feet of frontage on Highway 41 providing excellent visibility and accessibility.
Versatile main building with six offices/rooms, kitchen, two bathrooms, and two sales areas.
Warehouse/garage area with three bay doors and an office.
Included adjacent lot zoned GNC for additional parking, storage, or business use.
Zoning allows for RV Parking.

Overview

This is a rare opportunity to own two commercial properties. The main building, with 2,960 square feet, is currently occupied by a retail antique store and a sign fabrication/car restoration business. The versatile building has six offices/rooms, built-in desks and cabinets, a kitchen area, two bathrooms, and two sales areas. There is also a warehouse/garage area with three bay doors and an office. The adjacent lot is included in this sale and is zoned GNC. This lot could be used for additional parking, storage, or for another business. The property has 200 feet of frontage on Highway 41, which provides excellent visibility and accessibility. This property presents an opportunity for an investor or business owner.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$44.4k	$15.00
− Vacancy	−$3.8k	−$1.28
EGI	$40.6k	$13.73
− OpEx	−$12.2k	−$4.12
NOI	$28.4k	$9.61

2,960 SF · lease $15.00/SF/yr · vacancy 8.50% · expense 30.00%

Alternative Uses

Best Use

Retail

$406.3K

$355.5K – $474.0K (±1% cap)

NOI $28,438 @ 7.0% cap · market cap 7.58%

Second Best

Warehouse

$307.3K

$268.9K – $358.5K (±1% cap)

NOI $21,512 @ 7.0% cap · market cap 5.74%

Theoretical Best

Specialty Retail

$665.1K

$582.0K – $776.0K (±1% cap)

NOI $46,557 @ 7.0% cap · market cap 12.42%

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

Property Profile Location Intelligence

Current Use by Public Records

Cave Creek Construction ... Construction Company Geo's Customs LLC Department Store Nature Coast Restoration Hardware & Home Improvement

Suggested Use

Location Insight

Map
Local Demand

City: Hernando
County: Citrus
State: Florida
Longitude: -82.3694511
Latitude: 28.8920406

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For sale
Retail space
FL
Hernando
34442
2018 N Florida Avenue

What type of property is this?

Retail space - Two commercial properties in high-traffic area, excellent visibility.

Where is this retail space located?

The property is located at 2018 N Florida Avenue Hernando, FL.

What is the asking price?

The asking price for this property is $375,000.

What are key features of this property?

This property features: Two commercial properties for the price of one in a high‑traffic area.; **200 feet of frontage on Highway 41 providing excellent visibility and accessibility.**; **Versatile main building with six offices/rooms, kitchen, two bathrooms, and two sales areas.**