Office Building on Corner
For Sale
$195,000
Pending
20785 W MCKINNEY Ave, Dunnellon, FL 34431
Solid 1,323 sq. ft. office building in excellent condition with central air, six rooms, two restrooms, and five parking spaces.
Property Size1,323 SF
Days on Market50
Property Features for 20785 W MCKINNEY Ave
General Information
Standard status
Pending
Size
1,323 SF
Total Parking Spaces
5
Property subtype
Commercial
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$2,218
Building Details
Building Size
1,323 SF
Year Built
1974
Stories
1
Listing Agency:
AKIN REALTY COMPANY
(352) 804-2446
Listed By:
Van Akin, II · License #0242005
(352) 804-2446
Source:
Elliman
Added: Jun 20
Changed: Aug 8
Last Checked: Aug 8 at 10:12AM
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 AKIN REALTY COMPANY
Investment Insights
Based on property information with market context.
This solid block office building totals 1,323 sq. ft. and is reported to be in excellent condition. Built in 1974, it features a metal roof, laminate flooring, and central air throughout. The interior includes six rooms and two restrooms, with one restroom including a full bath. The property also has a fenced yard and a 346 sq. ft. conditioned utility building, along with five parking spaces.
The building is situated on a prominent corner lot bordering Dunnellon’s Historic District, supporting visibility and straightforward access for clients and staff.
Configured as a self-contained professional space, the layout includes multiple rooms and two restroom facilities, making it suitable for a range of service and professional uses.
The building is situated on a prominent corner lot bordering Dunnellon’s Historic District, supporting visibility and straightforward access for clients and staff.
Configured as a self-contained professional space, the layout includes multiple rooms and two restroom facilities, making it suitable for a range of service and professional uses.
Key Highlights
- 1,323 sq. ft. block office building built in 1974 in excellent condition
- Central air throughout; metal roof; laminate flooring
- Six rooms with two restrooms, including one full bath
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
$13,931
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
7.14%
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%
$278,620
$278.6K
Cap Rate 7%
$199,014
$199.0K
Cap Rate 9%
$154,789
$154.8K
Market Conditions
NOI Build-Up for 1,323 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
$23.8K $18.00/SF
− Vacancy
−$5.2K −$3.96/SF
EGI
$18.6K $14.04/SF
− OpEx
−$4.6K −$3.51/SF
NOI
$13.9K $10.53/SF
Area
Citrus County, FL
Vacancy
22.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$278,620
Cap Rate 7%
$199,014
Cap Rate 9%
$154,789
Alternative Uses
Best Use
Office B
$199.0K
$174.1K – $232.2K
NOI $13,931 @ 7.0% cap · market cap 7.14%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$297.3K
$260.1K – $346.8K
NOI $20,809 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
669
Businesses Nearby
Explore this area
Business Placement
Demographics for 34431, FL
8,589
Population
4,744
Households
1.8
Avg Household Size
56
Median Age
14%
College-Educated
85%
High-School Grad
104.2 sq mi
ZIP Area
82
Density / Sq Mi
$51,542
Median Household Income
$38,477
Median Earnings
$858
Median Rent
$185,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Solid 1,323 sq. ft. office building in excellent condition with central air, six rooms, two restrooms, and five parking spaces.
Where is this office building located?
The property is located at 20785 W MCKINNEY Ave Dunnellon, FL.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: 1,323 sq. ft. block office building built in 1974 in excellent condition; Central air throughout; metal roof; laminate flooring; Six rooms with two restrooms, including one full bath
