Retail Building with Highway
New
For Sale
$399,000
1174 US 27 N, Lake Placid, FL
Commercial Sale, Lake Placid, FL
Property Size1,597 SF
Lot Size0.90 Acres
Price / SF$249.84
Days on Market1
Property Features for 1174 US 27 N
General Information
Property type
Residential
Property subtype
Retail
Zoning
B3
Parking
2550
Lot features
Oversized Lot
Subdivision
5940 - Other Florida County
Standard status
Active
APN
P253629a0000800000
Size
1,597 SF
Lot size
0.90 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
A 150 X 323.22 FT TR AS MEAS ALONG R/W OF US HWY 27 ALONG E BDRY OF SEC 27 -HWY PATROL STA- .88 ACRES
Tax Annual Amount
5191
Legal Description
A 150 X 323.22 FT TR AS MEAS ALONG R/W OF US HWY 27 ALONG E BDRY OF SEC 27 -HWY PATROL STA- .88 ACRES
Utilities
Utilities
Water Available
Sewer type
Septic Tank
Water source
Public
Building Details
Year built
1967
Floors in Building
1
Building materials
CBS
Roof type
Aluminum
Listing Agency:
Illustrated Properties
(561) 626-7000
Listed By:
Samantha Saucedo · License #3305395
(863) 801-2101
Added: Oct 13
Last Checked: Oct 13 at 8:06PM
MLS# B26087582
Copyright © 2026 BeachesMLS. 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 1,597-square-foot retail property in Lake Placid is a concrete block building constructed in 1967. Its aluminum roof, public water availability, and septic system are among the property's existing features. The site is zoned B3, with potential commercial applications that include retail, automotive services, contractor shops, restaurants, warehousing, and storage, subject to applicable requirements and approvals.
The property fronts US Highway 27 N and has highway access. It occupies a commercial site in Lake Placid, Florida.
The property fronts US Highway 27 N and has highway access. It occupies a commercial site in Lake Placid, Florida.
Key Highlights
- 1,597‑square‑foot concrete block building
- Built in 1967
- B3 zoning; potential uses include retail, automotive services, contractor shops, restaurants, warehousing, and storage, subject to requirements
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,008
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$300,160
$300.2K
Cap Rate 7%
$214,400
$214.4K
Cap Rate 9%
$166,756
$166.8K
Market Conditions
NOI Build-Up for 1,597 SF
Gross rent
$24.0K $15.00/SF
− Vacancy
−$2.5K −$1.58/SF
EGI
$21.4K $13.43/SF
− OpEx
−$6.4K −$4.03/SF
NOI
$15.0K $9.40/SF
Area
Highlands County, FL
Vacancy
10.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$300,160
Cap Rate 7%
$214,400
Cap Rate 9%
$166,756
Alternative Uses
Best Use
Retail
$214.4K
$187.6K – $250.1K
NOI $15,008 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$332.2K
$290.7K – $387.6K
NOI $23,257 @ 7.0% cap · market cap 5.83%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
3k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Citgo
Shops & Services
2,785 visits/mo
0.2 miles
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - B3 zoning supports a range of commercial applications, subject to applicable requirements.
Where is this retail space located?
The property is located at 1174 US 27 N Lake Placid, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 1,597‑square‑foot concrete block building; Built in 1967; B3 zoning; potential uses include retail, automotive services, contractor shops, restaurants, warehousing, and storage, subject to requirements
