Retail Event Center on
For Sale
$2,500,000
524 West Ave, Clermont, FL 34711
Newly built 2023 retail/event center offering 6,912 sf main building and 47 street parking spaces.
Property Size8,792 SF
Days on Market43
Property Features for 524 West Ave
General Information
Standard status
Active
Size
8,792 SF
Property subtype
Retail
Building Details
Building Size
8,792 SF
Year Built
2023
Units
4
Listing Agency:
Saunders Real Estate
Listed By:
Marvin Puryear · License #3163836
(352) 267-5900
Source:
Commercialcafe
Added: Jul 27
Changed: Aug 25
Last Checked: Sep 7 at 5:05AM
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 Saunders Real Estate
Investment Insights
Based on property information with market context.
This 8,792 sf retail/event center includes a 6,912 sf main building constructed in 2023. The property is set up for combined retail and event use, supporting a single-site operation with the existing improvements captured in the current leasable area.
Located on the corner of West Ave and W. Minneola Ave in the Clermont CBD, the property is less than one block from Lake Minneola and the Coast-to-Coast fitness trail. The remarks also note proximity to restaurants, shops, and bars, along with nearby trail amenities and planned trail-related gathering spaces.
On-site parking is described as 47 street parking spaces on the East and South sides of the property, with an additional new city parking lot located about half a block away.
Located on the corner of West Ave and W. Minneola Ave in the Clermont CBD, the property is less than one block from Lake Minneola and the Coast-to-Coast fitness trail. The remarks also note proximity to restaurants, shops, and bars, along with nearby trail amenities and planned trail-related gathering spaces.
On-site parking is described as 47 street parking spaces on the East and South sides of the property, with an additional new city parking lot located about half a block away.
Key Highlights
- New 2023 retail/event center with 8,792 sf total combined leasable space
- 6,912 sf main building constructed in 2023
- Corner location on West Ave and W. Minneola Ave in the Clermont CBD
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
$104,022
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
4.16%
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%
$2,080,440
$2.1M
Cap Rate 7%
$1,486,029
$1.5M
Cap Rate 9%
$1,155,800
$1.2M
Market Conditions
NOI Build-Up for 8,792 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
$158.3K $18.00/SF
− Vacancy
−$9.7K −$1.10/SF
EGI
$148.6K $16.90/SF
− OpEx
−$44.6K −$5.07/SF
NOI
$104.0K $11.83/SF
Area
Lake County, FL
Vacancy
6.10%
Lease Rate
$18.00 /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%
$2,080,440
Cap Rate 7%
$1,486,029
Cap Rate 9%
$1,155,800
Alternative Uses
Best Use
Retail
$1.49M
$1.30M – $1.73M
NOI $104,022 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.50M
$2.19M – $2.92M
NOI $175,137 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,092
Businesses Nearby
23k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 67%
Home Improvements & Furnishings 33%
Shell
Shops & Services
11,856 visits/mo
0.4 miles
Hilltop Ace Hardware
Home Improvements & Furnishings
7,646 visits/mo
0.4 miles
Citgo
Shops & Services
3,435 visits/mo
0.3 miles
Demographics for 34711, FL
67,980
Population
28,127
Households
2.4
Avg Household Size
45
Median Age
36%
College-Educated
95%
High-School Grad
39.2 sq mi
ZIP Area
1,734
Density / Sq Mi
$88,474
Median Household Income
$46,456
Median Earnings
$1,817
Median Rent
$369,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Newly built 2023 retail/event center offering 6,912 sf main building and 47 street parking spaces.
Where is this retail space located?
The property is located at 524 West Ave Clermont, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: New 2023 retail/event center with 8,792 sf total combined leasable space; 6,912 sf main building constructed in 2023; Corner location on West Ave and W. Minneola Ave in the Clermont CBD
