Downtown Tavares Mixed-Use Investment
For Sale
$499,000
107 W MAIN STREET, Tavares, FL 32778
Two-unit mixed-use building in historic downtown Tavares, fully occupied.
Property Size1,662 SF
Lot Size0.05 Acres
Price / SF$300.24
Days on Market356
Property Features for 107 W MAIN STREET
General Information
Standard status
Active
Size
1,662 SF
Lot size
0.05 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,540
Amenities
Central air
Pool
Public Pool
Central Air Cooling
Shingle Roof
Building Details
Year Built
1918
Listing Agency:
GRIZZARD COMMERCIAL REALESTATE
(352) 787-6966
Listed By:
DANIEL TATRO · License #3190991
Source:
Corcoran
Added: Aug 31, 2025
Changed: Aug 21
Last Checked: Aug 21 at 7:57AM
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 GRIZZARD COMMERCIAL REALESTATE
Investment Insights
Based on property information with market context.
This mixed-use property is located in historic downtown Tavares, the county seat for Lake County. The building is fully occupied with two tenants. The upstairs unit is a renovated two-bedroom, one-and-a-half-bathroom apartment featuring a newly renovated deck and patio with a view of Lake Dora. The downstairs unit is occupied by an established hair salon. Renovations include new windows, appliances, paint, and flooring, as well as a completely new kitchen in the upstairs apartment. Both units have new HVAC units as of 2024. The property offers an investment opportunity with income potential.
Key Highlights
- Income‑generating investment property with 100% occupancy.
- Prime location in historic downtown Tavares.
- Renovated 2 BR / 1.5 BA apartment with lake views and a newly renovated deck/patio.
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
$21,938
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
4.40%
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%
$438,760
$438.8K
Cap Rate 7%
$313,400
$313.4K
Cap Rate 9%
$243,756
$243.8K
Market Conditions
NOI Build-Up for 1,662 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
$39.9K $24.00/SF
− Vacancy
−$4.8K −$2.88/SF
EGI
$35.1K $21.12/SF
− OpEx
−$13.2K −$7.92/SF
NOI
$21.9K $13.20/SF
Area
Lake County, FL
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$438,760
Cap Rate 7%
$313,400
Cap Rate 9%
$243,756
Alternative Uses
Best Use
Mixed Use
$313.4K
$274.2K – $365.6K
NOI $21,938 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$291.6K
$255.1K – $340.2K
NOI $20,410 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$473.0K
$413.8K – $551.8K
NOI $33,107 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
761
Businesses Nearby
Explore this area
Business Placement
Demographics for 32778, FL
23,993
Population
12,720
Households
1.9
Avg Household Size
52
Median Age
25%
College-Educated
88%
High-School Grad
25.4 sq mi
ZIP Area
945
Density / Sq Mi
$61,815
Median Household Income
$40,942
Median Earnings
$1,384
Median Rent
$241,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-unit mixed-use building in historic downtown Tavares, fully occupied.
Where is this mixed-use property located?
The property is located at 107 W MAIN STREET Tavares, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Income‑generating investment property with 100% occupancy.; Prime location in historic downtown Tavares.; Renovated 2 BR / 1.5 BA apartment with lake views and a newly renovated deck/patio.
