Multi-Tenant Shopping
New
For Sale
$899,000
12139 S WILLIAMS STREET, Dunnellon, FL 34432
Occupied retail center with flexible B-3 zoning, dedicated parking, individual utility meters, and a commercial kitchen suite.
Property Size7,384 SF
Lot Size0.62 Acres
Price / SF$121.75
Days on Market7
Property Features for 12139 S WILLIAMS STREET
General Information
Standard status
Active
Size
7,384 SF
Total Parking Spaces
36
Lot size
0.62 Acres
Property subtype
Retail
Zoning
B-3
Occupancy
100%
Additional Details
Drive-Thru
Yes
Amenities
individual utility metering
commercial kitchen
0.62 acres
Additional parcels description:, Parcel Number: 3380-0576, Public Survey Range: 18, Public Survey Section: 35, Annual Amount: $11,200, Tax Block: UNK, Tax Book Number: A/174, Legal Description: Lengthy Legal in listing office, Lot: UNK, Year: 2026, Zoning: B3
Gross Income: $98,358, Net Operating Income: $68,000
Central Air
Listing ID: MFROM732314, Standard Status: Active, MLS Status: Active, Property Subtype: Retail, On market as of 2026-09-15, Special Conditions: None
Built in 1985, Living area units: Square Feet, Levels: One, Construction Materials: Block, Stone, Stucco
MLS Area (Major): 34432 - Dunnellon, County/Parish: Marion
Completed
Slab
Frontage Type: City Street, Road Surface: Paved
Building Details
Year Built
1985
Buildings
2
Construction
block
Tenancy
Multi
Listing Agency:
WIECHENS REALTY INC
(352) 622-3214
Listed By:
Sandon Wiechens · License #0614535
Source:
Miharaandassociates
Added: Sep 15
Changed: Sep 20
Last Checked: Sep 20 at 6:39AM
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 WIECHENS REALTY INC
Investment Insights
Based on property information with market context.
This 7,384-square-foot shopping center comprises two block buildings containing 9 units across two parcels totaling 0.62 acres. The center is fully occupied, and each unit includes a private bathroom and separate utility metering. One suite has a commercial kitchen, while the property also includes 36 dedicated parking spaces, two on-site sign locations, and a drive-through lane next to the tackle shop.
The property fronts Williams Street in Dunnellon, Florida, a primary commercial route serving local traffic and visitors traveling to the Rainbow River, Withlacoochee River, springs, state parks, and historic downtown. Flexible B-3 zoning supports a range of commercial uses. Built in 1985, the center offers a multi-unit retail configuration with established occupancy and varied business tenancy.
The property fronts Williams Street in Dunnellon, Florida, a primary commercial route serving local traffic and visitors traveling to the Rainbow River, Withlacoochee River, springs, state parks, and historic downtown. Flexible B-3 zoning supports a range of commercial uses. Built in 1985, the center offers a multi-unit retail configuration with established occupancy and varied business tenancy.
Key Highlights
- Two parcels total 0.62 acres, with 0.31 acres each per MCPA
- Two buildings contain 9 units totaling 7,384 SF
- Fully occupied center with individual utility metering for each unit
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
$70,942
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
7.89%
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%
$1,418,840
$1.4M
Cap Rate 7%
$1,013,457
$1.0M
Cap Rate 9%
$788,244
$788.2K
Market Conditions
NOI Build-Up for 7,384 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
$110.8K $15.00/SF
− Vacancy
−$9.4K −$1.28/SF
EGI
$101.3K $13.73/SF
− OpEx
−$30.4K −$4.12/SF
NOI
$70.9K $9.61/SF
Area
Citrus County, FL
Vacancy
8.50%
Lease Rate
$15.00 /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%
$1,418,840
Cap Rate 7%
$1,013,457
Cap Rate 9%
$788,244
Alternative Uses
Best Use
Retail
$1.01M
$886.8K – $1.18M
NOI $70,942 @ 7.0% cap · market cap 7.89%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.66M
$1.45M – $1.94M
NOI $116,142 @ 7.0% cap · market cap 12.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
547
Businesses Nearby
28k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Mobil
Shops & Services
8,420 visits/mo
0.2 miles
Bank of America
Shops & Services
5,618 visits/mo
0.5 miles
Citgo
Shops & Services
4,395 visits/mo
0.3 miles
Marathon
Shops & Services
3,682 visits/mo
0.5 miles
Regions Bank
Shops & Services
2,989 visits/mo
0.3 miles
Demographics for 34432, FL
13,159
Population
6,899
Households
1.9
Avg Household Size
58
Median Age
20%
College-Educated
90%
High-School Grad
105.1 sq mi
ZIP Area
125
Density / Sq Mi
$47,711
Median Household Income
$30,240
Median Earnings
$1,077
Median Rent
$223,900
Median Home Value
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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Similar Off Market Nearby
- Rainbow Square — 11352 N Williams St, Dunnellon, FL 34432
Frequently Asked Questions
What type of property is this?
Shopping center - Occupied retail center with flexible B-3 zoning, dedicated parking, individual utility meters, and a commercial kitchen suite.
Where is this shopping center located?
The property is located at 12139 S WILLIAMS STREET Dunnellon, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Two parcels total 0.62 acres, with 0.31 acres each per MCPA; Two buildings contain 9 units totaling 7,384 SF; Fully occupied center with individual utility metering for each unit
