Downtown Retail Storefront
For Sale
$235,000
117 NE 1ST STREET, Chiefland, FL 32626
Versatile downtown storefront building near Chiefland’s main commercial corridor with an open interior plan and parking nearby.
Property Size1,558 SF
Price / SF$179.39
Days on Market35
Property Features for 117 NE 1ST STREET
General Information
Standard status
Active
Size
1,558 SF
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$2,442
Amenities
Bathrooms, Extra Storage, Fencing, Kitchen Facility, Outside Storage, Reception, Trash Removal
Sidewalks
Accessible Entrance, Accessible Common Area, Accessible Hallway(s), Accessible Kitchen, Accessible Kitchen Appliances
Central Air
Central
Refrigerator
Storage
Building Details
Building Size
1,558 SF
Year Built
1976
Listing Agency:
SWANZ PREMIER REALTY LLC
(352) 219-8503
Listed By:
Swanzetta Battles
(352) 219-8503
Source:
Evrealestate
Added: Jul 20
Changed: Aug 23
Last Checked: Aug 22 at 11:03AM
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 SWANZ PREMIER REALTY LLC
Investment Insights
Based on property information with market context.
This versatile commercial building is positioned just steps from Chiefland’s main commercial corridor within the business district. The interior features an open floor plan with a reception area/foyer, supporting a range of retail, office, service-based, or specialty shop uses.
Access is supported by nearby major routes including US-19/98 and SR-129, and the property benefits from on-site and nearby parking options. The surrounding area is described as a walkable district with retail, dining, and professional services, along with steady local activity.
The property is offered for sale as a flexible storefront option in downtown Chiefland, with practical customer accessibility and a layout designed to accommodate multiple commercial operating styles.
Access is supported by nearby major routes including US-19/98 and SR-129, and the property benefits from on-site and nearby parking options. The surrounding area is described as a walkable district with retail, dining, and professional services, along with steady local activity.
The property is offered for sale as a flexible storefront option in downtown Chiefland, with practical customer accessibility and a layout designed to accommodate multiple commercial operating styles.
Key Highlights
- Commercial building built in 1976 in Chiefland’s business district near the main commercial corridor
- Flexible open interior layout with reception area/foyer for retail, office, service use, or specialty shop
- Easy access from major routes including US‑19/98 and SR‑129
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
$13,890
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
5.91%
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%
$277,800
$277.8K
Cap Rate 7%
$198,429
$198.4K
Cap Rate 9%
$154,333
$154.3K
Market Conditions
NOI Build-Up for 1,310 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
$21.2K $16.20/SF
− Vacancy
−$1.4K −$1.05/SF
EGI
$19.8K $15.15/SF
− OpEx
−$6.0K −$4.54/SF
NOI
$13.9K $10.60/SF
Area
Levy County, FL
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$277,800
Cap Rate 7%
$198,429
Cap Rate 9%
$154,333
Alternative Uses
Best Use
Retail
$198.4K
$173.6K – $231.5K
NOI $13,890 @ 7.0% cap · market cap 5.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$324.5K
$283.9K – $378.5K
NOI $22,712 @ 7.0% cap · market cap 9.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
320
Businesses Nearby
9k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 83%
Home Improvements & Furnishings 9%
Beauty & Spa 8%
Marathon
Shops & Services
4,411 visits/mo
0.5 miles
Citgo
Shops & Services
2,862 visits/mo
0.3 miles
City Electric Supply
Home Improvements & Furnishings
762 visits/mo
0.1 miles
Merle Norman Cosmetic Studio
Beauty & Spa
709 visits/mo
0.1 miles
Demographics for 32626, FL
8,620
Population
4,358
Households
2
Avg Household Size
47
Median Age
13%
College-Educated
89%
High-School Grad
243.6 sq mi
ZIP Area
35
Density / Sq Mi
$49,643
Median Household Income
$34,057
Median Earnings
$844
Median Rent
$160,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Versatile downtown storefront building near Chiefland’s main commercial corridor with an open interior plan and parking nearby.
Where is this storefront property located?
The property is located at 117 NE 1ST STREET Chiefland, FL.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Commercial building built in 1976 in Chiefland’s business district near the main commercial corridor; Flexible open interior layout with reception area/foyer for retail, office, service use, or specialty shop; Easy access from major routes including US‑19/98 and SR‑129
