Retail and Storage Facility For
708 US 27 S Lake Placid, FL 33852
708 US 27 S, Lake Placid, FL, 33852
$849,900
For Sale
$849,900
Retail building with storage units on US 27.
Property Size4,650 SF
Price / SF$182.77
Days on Market64
Property Features for 708 US 27 S
General Information
- Standard status
- Active
- Size
- 4,650 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1979
Listing agency
ADVANTAGE REALTY 1
(863) 852-6687
Listed by
Nancy Newman May, PA · License #569759
(863) 852-6687
Source
Elliman
Added: May 19 Updated: Jul 10 at 1:35PM Checked: Jul 21 at 5:55AM
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 commercial property features a 4650 square foot retail building and a storage facility with 30 units. The retail building, located at 708-714 US 27 S, Lake Placid, faces US 27 and can be configured as one large space or divided into four individual storefronts. The storage units are housed in three buildings at the rear of the property, accessible from Wirick Road. These units are secured by a 6-foot-high chain link fence and a locking gate. There is potential for expansion by adding more storage units or RV/boat storage at the back of the property. The property includes 21 parking spaces in the front and additional parking in the rear. The property is located on US 27 and Wirick Rd. The bike score is 44, indicating it is somewhat bikeable, and the walk score is 60, indicating it is somewhat walkable. This facility is suitable for a user or business owner looking to occupy space for their business while leasing the remaining space for additional income, with the potential for increasing property values.
Key Highlights
- Priced at only $150/Sq.Ft (Building with Land), significantly below replacement value for a fast sale.
- Prime commercial property on US 27 with a 4650 SF retail building and a 30‑unit storage facility.
- Income‑generating potential: Lease out retail spaces and storage units.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $69.8k | $15.00 |
| − Vacancy | −$7.3k | −$1.58 |
| EGI | $62.4k | $13.43 |
| − OpEx | −$18.7k | −$4.03 |
| NOI | $43.7k | $9.40 |
4,650 SF · lease $15.00/SF/yr · vacancy 10.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$624.3K
$546.2K – $728.3K
NOI $43,698 @ 7.0% cap · market cap 5.14%
Second Best
Self Storage
$527.6K
$461.7K – $615.6K
NOI $36,933 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$967.4K
$846.5K – $1.13M
NOI $67,719 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Retail building with storage units on US 27.
Where is this retail space located?
The property is located at 708 US 27 S Lake Placid, FL.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Priced at only $150/Sq.Ft (Building with Land), significantly below replacement value for a fast sale.; Prime commercial property on US 27 with a 4650 SF retail building and a 30‑unit storage facility.; Income‑generating potential: Lease out retail spaces and storage units.
