Freestanding Building on Corner
For Sale
Contact for pricing
15035 NE US Hwy 301, Waldo, FL 32694
Former C-store/gas station on US Hwy 301 for sale.
Property Size3,000 SF
Price / SF$291.67
Days on Market3279
Property Features for 15035 NE US Hwy 301
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Retail
Zoning
COMM
Investment Type
Value Add
Building Details
Year Built
1996
Buildings
1
Stories
2
Tenancy
Single
Listing Agency:
Lightle Beckner Robison Inc
(321) 722-0707
Listed By:
Jeffery Robison · License #FL 3113472
Source:
Crexi
Added: Aug 31, 2017
Changed: Aug 8
Last Checked: Aug 20 at 5:03AM
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 Lightle Beckner Robison Inc
Investment Insights
Based on property information with market context.
This freestanding 3,000-square-foot building is situated on a corner lot, adjacent to a post office. The property, formerly a convenience store and gas station, has undergone tank removal. It fronts US Highway 301, located east of the junction with State Road 24, specifically at the northeast corner of US Highway 301 and 150th Avenue. The traffic count for this location is approximately 24,500 AADT (Annual Average Daily Traffic) as of 2023.
Key Highlights
- High Traffic Location: Situated on US Hwy 301 with a traffic count of 24,500 AADT (2023).
- Corner Lot: Freestanding building located on a corner lot.
- Proximity to Post Office: Located next to the post office.
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
$35,721
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
4.08%
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%
$714,420
$714.4K
Cap Rate 7%
$510,300
$510.3K
Cap Rate 9%
$396,900
$396.9K
Market Conditions
NOI Build-Up for 3,000 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
$50.4K $16.80/SF
− Vacancy
−$2.8K −$0.92/SF
EGI
$47.6K $15.88/SF
− OpEx
−$11.9K −$3.97/SF
NOI
$35.7K $11.91/SF
Area
Alachua County, FL
Vacancy
5.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
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%
$714,420
Cap Rate 7%
$510,300
Cap Rate 9%
$396,900
Alternative Uses
Best Use
Specialty Retail
$510.3K
$446.5K – $595.4K
NOI $35,721 @ 7.0% cap · market cap 4.08%
Second Best
Retail
$467.7K
$409.3K – $545.7K
NOI $32,742 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$756.3K
$661.8K – $882.4K
NOI $52,942 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
93
Businesses Nearby
Explore this area
Business Placement
Demographics for 32694, FL
1,962
Population
1,305
Households
1.5
Avg Household Size
48
Median Age
24%
College-Educated
84%
High-School Grad
29.3 sq mi
ZIP Area
67
Density / Sq Mi
$40,455
Median Household Income
$36,862
Median Earnings
$673
Median Rent
$121,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Gas station - Former C-store/gas station on US Hwy 301 for sale.
Where is this gas station located?
The property is located at 15035 NE US Hwy 301 Waldo, FL.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: High Traffic Location: Situated on US Hwy 301 with a traffic count of 24,500 AADT (2023).; Corner Lot: Freestanding building located on a corner lot.; Proximity to Post Office: Located next to the post office.
