Commercial Property on State
For Sale
$295,000
9230 NE STATE ROAD 24, Bronson, FL 32621
Commercial property suitable for warehouses, retail, and more.
Property Size1,344 SF
Days on Market128
Property Features for 9230 NE STATE ROAD 24
General Information
Standard status
Active
Size
1,344 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$1,663
Building Details
Building Size
1,344 SF
Year Built
1979
Listing Agency:
Coldwell Banker M.M. Parrish Realtors
(352) 281-2514
Listed By:
S. Catherine Tyrrell · License #3003731
(352) 281-2514
Source:
Elliman
Added: Apr 24
Changed: Aug 26
Last Checked: Aug 26 at 11:22AM
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 Coldwell Banker M.M. Parrish Realtors
Investment Insights
Based on property information with market context.
This commercial property is located on a main state road in Bronson, Florida. The zoning permits a variety of uses, including warehouses with offices and showrooms, retail spaces up to 15,000 square feet suitable for businesses such as Dollar General, Family Dollar, and Dollar Tree, as well as self-storage facilities, restaurants, personal services, and adult and child care facilities. A manufactured home is situated on the rear of the property, offering a potential live-work environment. The property has a bike score of 25, indicating it is somewhat bikeable, and a walk score of 0, indicating car-dependence.
Key Highlights
- Commercial property on a main State Road in Bronson, Florida.
- Zoning allows for warehouses, retail spaces (up to 15,000 sq ft), self‑storage, restaurants, and care facilities.
- Includes a manufactured home on the property for a live/work environment.
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
$14,250
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
4.83%
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%
$285,000
$285.0K
Cap Rate 7%
$203,571
$203.6K
Cap Rate 9%
$158,333
$158.3K
Market Conditions
NOI Build-Up for 1,344 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
$21.8K $16.20/SF
− Vacancy
−$1.4K −$1.05/SF
EGI
$20.4K $15.15/SF
− OpEx
−$6.1K −$4.54/SF
NOI
$14.3K $10.60/SF
Area
Levy County, FL
Vacancy
6.50%
Lease Rate
$16.20 /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%
$285,000
Cap Rate 7%
$203,571
Cap Rate 9%
$158,333
Alternative Uses
Best Use
Retail
$203.6K
$178.1K – $237.5K
NOI $14,250 @ 7.0% cap · market cap 4.83%
Second Best
Warehouse
$140.3K
$122.7K – $163.7K
NOI $9,819 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$332.9K
$291.3K – $388.4K
NOI $23,302 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
Explore this area
Business Placement
Demographics for 32621, FL
5,396
Population
2,495
Households
2.2
Avg Household Size
41
Median Age
10%
College-Educated
84%
High-School Grad
73.5 sq mi
ZIP Area
73
Density / Sq Mi
$52,840
Median Household Income
$39,181
Median Earnings
$596
Median Rent
$114,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Commercial property suitable for warehouses, retail, and more.
Where is this commercial land located?
The property is located at 9230 NE STATE ROAD 24 Bronson, FL.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Commercial property on a main State Road in Bronson, Florida.; Zoning allows for warehouses, retail spaces (up to 15,000 sq ft), self‑storage, restaurants, and care facilities.; Includes a manufactured home on the property for a **live/work environment.**
