Chiefland Commercial Property For
For Sale
$450,000
1411 NW 23rd Avenue, Chiefland, FL 32626
Established commercial property with office and manufacturing space in Chiefland.
Property Size3,560 SF
Lot Size0.50 Acres
Price / SF$126.40
Days on Market495
Property Features for 1411 NW 23rd Avenue
General Information
Standard status
Active
Size
3,560 SF
Lot size
0.50 Acres
Property subtype
Commercial
Building Details
Year Built
2004
Listing Agency:
UNITED COUNTRY SMITH & ASSOCIATES - NEWBERRY
(352) 221-5256
Listed By:
Brad Smith · License #550985
Source:
Realtygroupfl
Added: Apr 21, 2025
Changed: Aug 23
Last Checked: Aug 26 at 10:09AM
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 UNITED COUNTRY SMITH & ASSOCIATES - NEWBERRY
Investment Insights
Based on property information with market context.
This commercial property is located in Chiefland, Florida. The property includes a paved parking lot that accommodates four vehicles. The office space features a large waiting room, seven offices, and a kitchenette. At the back of the office is a shop suitable for manufacturing and storage. The property is located among other businesses with access from Highway 19.
Key Highlights
- Established commercial property in Chiefland, Florida.
- High‑visibility location with convenient access from Hwy 19.
- Features a large waiting room, 7 offices, and a kitchenette.
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
$41,118
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
9.14%
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%
$822,360
$822.4K
Cap Rate 7%
$587,400
$587.4K
Cap Rate 9%
$456,867
$456.9K
Market Conditions
NOI Build-Up for 3,560 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
$74.8K $21.00/SF
− Vacancy
−$9.0K −$2.52/SF
EGI
$65.8K $18.48/SF
− OpEx
−$24.7K −$6.93/SF
NOI
$41.1K $11.55/SF
Area
Levy County, FL
Vacancy
12.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
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%
$822,360
Cap Rate 7%
$587,400
Cap Rate 9%
$456,867
Alternative Uses
Best Use
Mixed Use
$587.4K
$514.0K – $685.3K
NOI $41,118 @ 7.0% cap · market cap 9.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$881.7K
$771.5K – $1.03M
NOI $61,722 @ 7.0% cap · market cap 13.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
333
Businesses Nearby
Explore this area
Business Placement
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Established commercial property with office and manufacturing space in Chiefland.
Where is this mixed-use property located?
The property is located at 1411 NW 23rd Avenue Chiefland, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Established commercial property in Chiefland, Florida.; High‑visibility location with convenient access from Hwy 19.; Features a large waiting room, 7 offices, and a kitchenette.
