Renovated Commercial Building on Highway

3248 COMMERCIAL WAY, Spring Hill, FL 34606

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For Sale

$739,000

Completely renovated commercial building with highway visibility and ample parking.

Type:Commercial/Industrial

Property size:

3,122 SF

Lot size:

0.75 Acres

Price / SF:

$236/SF

HighLights

Prime location on US Highway 19 with high traffic volume and excellent highway visibility.
Completely renovated with new metal panel roof, impact glass windows/doors, HVAC units, septic system, hot water tank, flooring, and paint.
C1 zoning allows for a wide range of permitted uses.
Building configuration includes 10 offices, a large lobby, 3 bathrooms, and potential for a kitchenette; easily accommodates multiple tenants.
Dedicated turn lane for southbound traffic provides easy access to the property.
Abundant parking available.

We can help!

Listing Contact

Gerry Lynn Kierstead

Learn more

For Sale

$739,000

Completely renovated commercial building with highway visibility and ample parking.

Type:Commercial/Industrial

Property size:

3,122 SF

Lot size:

0.75 Acres

Price / SF:

$236/SF

Added:: Apr 24, 2024
Days on Market:: 780
Last Refresh:: May 20 at 12:24 am

Property Features for 3248 COMMERCIAL WAY

General Information

Standard status: Active
Size: 3,122 SF
Lot size: 0.75 Acres
Property subtype: Commercial/Industrial

Building Details

Year Built: 1979

We can help!

Listing Contact

Gerry Lynn Kierstead

Listing agent Gerry Lynn Kierstead License #3384325

Listing office BERKSHIRE HATHAWAY FL REALTY

Listing date Apr 24, 2024

Source Exitrealty

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 BERKSHIRE HATHAWAY FL REALTY

HighLights

Prime location on US Highway 19 with high traffic volume and excellent highway visibility.
Completely renovated with new metal panel roof, impact glass windows/doors, HVAC units, septic system, hot water tank, flooring, and paint.
C1 zoning allows for a wide range of permitted uses.
Building configuration includes 10 offices, a large lobby, 3 bathrooms, and potential for a kitchenette; easily accommodates multiple tenants.
Dedicated turn lane for southbound traffic provides easy access to the property.
Abundant parking available.

Overview

This commercial property is located on US Highway 19 in Spring Hill, Florida, benefiting from high traffic volume of 46,000 vehicles per day. The building has been completely renovated, featuring a new metal panel roof, impact glass windows and doors, two new HVAC units with cages, a new septic system, a new hot water tank, new interior paint, and new LVP flooring. The current configuration includes 10 large offices, a large open lobby area, and three bathrooms. Water pipes are installed in the wall for a kitchenette. An existing structure is available for signage, providing excellent highway visibility. Situated on the corner of US Highway 19 and Sealawn Drive, the property includes a dedicated turn lane for South Bound traffic, facilitating easy access. The property could accommodate multiple tenants. Zoned C1, the property permits various uses, including business or professional offices, convenience stores with fueling stations, restaurants, retail, veterinary services, automobile service, and call centers. The property provides abundant parking. The building size is 3122 square feet.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$78.7k	$25.20
− Vacancy	−$17.6k	−$5.64
EGI	$61.1k	$19.56
− OpEx	−$15.3k	−$4.89
NOI	$45.8k	$14.67

3,122 SF · lease $25.20/SF/yr · vacancy 22.40% · expense 25.00%

Alternative Uses

Best Use

Office B

$654.1K

$572.4K – $763.2K (±1% cap)

NOI $45,789 @ 7.0% cap · market cap 6.20%

Second Best

Specialty Retail

$636.0K

$556.5K – $742.0K (±1% cap)

NOI $44,518 @ 7.0% cap · market cap 6.02%

Theoretical Best

Office A

$998.2K

$873.4K – $1.16M (±1% cap)

NOI $69,872 @ 7.0% cap · market cap 9.45%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Current Use by Public Records

Office buildings

Suggested Use

Location Insight

Map
Local Demand

City: Spring Hill
County: Pasco
State: Florida
Longitude: -82.6101
Latitude: 28.4787

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For sale
Office buildings
FL
Spring Hill
34606
3248 COMMERCIAL WAY

What type of property is this?

Office building - Completely renovated commercial building with highway visibility and ample parking.

Where is this office building located?

The property is located at 3248 COMMERCIAL WAY Spring Hill, FL.

What is the asking price?

The asking price for this property is $739,000.

What are key features of this property?

This property features: Prime location on US Highway 19 with high traffic volume and excellent highway visibility.; Completely renovated with new metal panel roof, impact glass windows/doors, HVAC units, septic system, hot water tank, flooring, and paint.; C1 zoning allows for a wide range of permitted uses.