Lake Placid Retail
For Sale
$2,250,000
800 US 27 S, Lake Placid, FL 33852
22,000 SF retail building in Lake Placid.
Property Size21,875 SF
Lot Size2.59 Acres
Price / SF$102.86
Days on Market695
Property Features for 800 US 27 S
General Information
Standard status
Active
Size
21,875 SF
Lot size
2.59 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$21,985
Building Details
Year Built
1993
Listing Agency:
ADVANTAGE REALTY 1
(863) 381-4932
Listed By:
Gregory Karlson · License #569759
(863) 381-4932
Source:
Exitrealty
Added: Sep 16, 2024
Changed: Aug 8
Last Checked: Aug 10 at 5:34AM
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 ADVANTAGE REALTY 1
Investment Insights
Based on property information with market context.
This 21,875 square foot building is located in Lake Placid. The property is suitable for retail and other commercial uses, including bars, pubs, restaurants, auto shops, automotive properties, bowling alleys, and sports and entertainment properties. The front 7,000 square feet is currently leased to a restaurant and bar. The rear 15,000 square foot space features a clear span layout and is climate controlled and separately fenced. The rear space was formerly a bowling alley and is currently used by the owners for storing and selling automobiles and motorcycles. The property is ideal for mixed-use and alternative uses such as auto sales including cars, motorcycles (such as Harley Davidson), RVs, and boats. The property benefits from a median turn into the site, located across from other franchise retailers.
Key Highlights
- Prime 22,000 SF Retail Building in Lake Placid
- 15,000 SF Clear Span, Climate‑Controlled Space**
- Ideal for Mixed‑Use Development
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
$205,570
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%
$4,111,400
$4.1M
Cap Rate 7%
$2,936,714
$2.9M
Cap Rate 9%
$2,284,111
$2.3M
Market Conditions
NOI Build-Up for 21,875 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
$328.1K $15.00/SF
− Vacancy
−$34.5K −$1.58/SF
EGI
$293.7K $13.43/SF
− OpEx
−$88.1K −$4.03/SF
NOI
$205.6K $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 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%
$4,111,400
Cap Rate 7%
$2,936,714
Cap Rate 9%
$2,284,111
Alternative Uses
Best Use
Specialty Retail
$3.07M
$2.68M – $3.58M
NOI $214,680 @ 7.0% cap · market cap 9.54%
Second Best
Retail
$2.94M
$2.57M – $3.43M
NOI $205,570 @ 7.0% cap · market cap 9.14%
Theoretical Best
Office A
$4.55M
$3.98M – $5.31M
NOI $318,570 @ 7.0% cap · market cap 14.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
47
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
5,907 visits/mo
0.1 miles
Demographics for 33852, FL
21,635
Population
12,991
Households
1.7
Avg Household Size
55
Median Age
20%
College-Educated
85%
High-School Grad
293.4 sq mi
ZIP Area
74
Density / Sq Mi
$54,841
Median Household Income
$39,658
Median Earnings
$1,063
Median Rent
$205,800
Median Home Value
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 property - 22,000 SF retail building in Lake Placid.
Where is this retail property located?
The property is located at 800 US 27 S Lake Placid, FL.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Prime 22,000 SF Retail Building in Lake Placid; 15,000 SF Clear Span, Climate‑Controlled Space**; Ideal for Mixed‑Use Development
