Office Building at Corner
For Sale
$399,000
1283 CR 463B, Lake Panasoffkee, FL 33538
Office-zoned property with multiple private rooms, a reception area, kitchen, bathrooms, and on-site parking.
Property Size2,144 SF
Price / SF$188.74
Days on Market53
Property Features for 1283 CR 463B
General Information
Standard status
Active
Size
2,144 SF
Property subtype
Commercial
Property Condition
Severity
Repairs Needed
Evidence
some renovations are required
Taxes and HOA fees
Annual Taxes
$3,420
Building Details
Building Size
2,144 SF
Year Built
1988
Listing Agency:
JLS Investment Realty
Listed By:
Sandra Stepanek · License #387976
(813) 758-0906
Source:
Elliman
Added: Sep 12
Changed: Nov 2
Last Checked: Nov 1 at 7:05AM
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 JLS Investment Realty
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Investment Insights
Based on property information with market context.
This office property occupies more than half an acre at the junction of CR470 and CR463B. The 2,114-square-foot building was constructed in 1988 and provides a reception area, one larger office, five additional offices, a kitchen, and two bathrooms. The layout supports a range of office configurations, while the existing improvements require renovation before use.
On-site parking is provided, and the property is designated for office use. The site is located in Lake Panasoffkee, with a Walk Score of 20 and a Bike Score of 33. The building has previously operated as a medical office and later as an antique store, offering a commercial structure with an established interior layout for office occupancy.
On-site parking is provided, and the property is designated for office use. The site is located in Lake Panasoffkee, with a Walk Score of 20 and a Bike Score of 33. The building has previously operated as a medical office and later as an antique store, offering a commercial structure with an established interior layout for office occupancy.
Key Highlights
- More than half an acre at the CR470 and CR463B intersection
- 2,114‑square‑foot office building constructed in 1988
- One reception area, one larger office, and five additional offices
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,451
Cap Rate
8.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$649,020
$649.0K
Cap Rate 7%
$463,586
$463.6K
Cap Rate 9%
$360,567
$360.6K
Market Conditions
NOI Build-Up for 2,114 SF
Gross rent
$52.8K $24.96/SF
− Vacancy
−$9.5K −$4.49/SF
EGI
$43.3K $20.47/SF
− OpEx
−$10.8K −$5.12/SF
NOI
$32.5K $15.35/SF
Area
Sumter County, FL
Vacancy
18.00%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$649,020
Cap Rate 7%
$463,586
Cap Rate 9%
$360,567
Alternative Uses
Best Use
Office B
$463.6K
$405.6K – $540.9K
NOI $32,451 @ 7.0% cap · market cap 8.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$605.2K
$529.6K – $706.1K
NOI $42,365 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Demographics for 33538, FL
5,096
Population
3,409
Households
1.5
Avg Household Size
50
Median Age
15%
College-Educated
85%
High-School Grad
89.0 sq mi
ZIP Area
57
Density / Sq Mi
$48,951
Median Household Income
$43,178
Median Earnings
$1,005
Median Rent
$157,200
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Office-zoned property with multiple private rooms, a reception area, kitchen, bathrooms, and on-site parking.
Where is this office building located?
The property is located at 1283 CR 463B Lake Panasoffkee, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: More than half an acre at the CR470 and CR463B intersection; 2,114‑square‑foot office building constructed in 1988; One reception area, one larger office, and five additional offices
