Nobleton Land Investment
For Sale
Contact for pricing
28380 Forbes St, Nobleton, FL 34661
Mixed-use property with commercial and residential development potential in Nobleton.
Property Size1,655 SF
Lot Size5.20 Acres
Price / SF$332.33
Days on Market511
Property Features for 28380 Forbes St
General Information
Standard status
Active
Size
1,655 SF
Total Parking Spaces
12
Lot size
5.20 Acres
Property subtype
Land, Mixed Use
Zoning
C1 & R1A
Building Details
Year Built
1985
Buildings
3
Listing Agency:
Dennis Realty & Investment Corporation
Listed By:
Carl Stratton · License #FL 657962
Source:
Crexi
Added: Mar 31, 2025
Changed: Aug 8
Last Checked: Jul 15 at 9:36PM
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 Dennis Realty & Investment Corporation
Investment Insights
Based on property information with market context.
This investment opportunity includes 3.1 acres of C1 commercial property and 2.1 acres of R1A residential property. Located in the heart of Nobleton, the property features road frontage on Lake Lindsey Road, a thoroughfare with significant traffic. The location provides accessibility to major highways, being within 11 minutes of I-75, connecting to Inverness, Ocala, and Tampa, and within 7 minutes of US-41. The commercial property includes three buildings, presenting a canvas to develop a business within the C1 ordinances. The R1A property is undeveloped and requires clearing, offering the opportunity to build single-family housing as documented in the R1A Municode, Mobile Homes.
Key Highlights
- Package deal: 3.1 acres of C1 commercial property and 2.1 acres of R1A residential property.
- Prime location in the heart of Nobleton with significant road frontage on Lake Lindsey Road.**
- Excellent accessibility: Within 11 minutes of I‑75, connecting to Inverness, Ocala, and Tampa.
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
$20,555
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
3.74%
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%
$411,100
$411.1K
Cap Rate 7%
$293,643
$293.6K
Cap Rate 9%
$228,389
$228.4K
Market Conditions
NOI Build-Up for 1,655 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
$35.7K $21.60/SF
− Vacancy
−$2.9K −$1.73/SF
EGI
$32.9K $19.87/SF
− OpEx
−$12.3K −$7.45/SF
NOI
$20.6K $12.42/SF
Area
Hernando County, FL
Vacancy
8.00%
Lease Rate
$21.60 /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%
$411,100
Cap Rate 7%
$293,643
Cap Rate 9%
$228,389
Alternative Uses
Best Use
Mixed Use
$293.6K
$256.9K – $342.6K
NOI $20,555 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$377.0K
$329.9K – $439.8K
NOI $26,390 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Explore this area
Business Placement
Demographics for 34661, FL
260
Population
285
Households
0.9
Avg Household Size
56
Median Age
9%
College-Educated
78%
High-School Grad
9.0 sq mi
ZIP Area
29
Density / Sq Mi
$28,972
Median Earnings
$144,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Mixed-use property with commercial and residential development potential in Nobleton.
Where is this commercial land located?
The property is located at 28380 Forbes St Nobleton, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Package deal: **3.1 acres of C1 commercial property and 2.1 acres of R1A residential property.**; Prime location in the heart of Nobleton with significant road frontage on Lake Lindsey Road.**; Excellent accessibility: Within 11 minutes of I‑75, connecting to Inverness, Ocala, and Tampa.
