New Construction
For Sale
$579,000
174 - 176 S LEMON AVENUE, Brooksville, FL 34601
Two separately configured residences offer flexible owner-occupant or rental use in a newly built property.
Property Size2,464 SF
Price / SF$234.98
Days on Market487
Property Features for 174 - 176 S LEMON AVENUE
General Information
Standard status
Active
Size
2,464 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$223
Building Details
Year Built
2025
Listing Agency:
EXP REALTY LLC
(813) 562-2334
Listed By:
Maria Leon · License #3360165
(813) 562-2334
Source:
Exitrealty
Added: May 3, 2025
Changed: Aug 31
Last Checked: Aug 31 at 2:32PM
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 EXP REALTY LLC
Investment Insights
Based on property information with market context.
Completed in 2025, this 2,464-square-foot duplex contains two residences, each with two bedrooms and two full bathrooms. Both units feature open floor plans, contemporary kitchens, upscale appliances, and updated interior finishes. The configuration supports living in one residence while leasing the other or operating both as rental units.
The property is located at 174–176 S Lemon Avenue in Brooksville, with downtown Brooksville, shops, restaurants, and everyday conveniences nearby. Its new construction and two-unit layout provide a straightforward ownership structure for residential income use or an owner-occupant arrangement.
The property is located at 174–176 S Lemon Avenue in Brooksville, with downtown Brooksville, shops, restaurants, and everyday conveniences nearby. Its new construction and two-unit layout provide a straightforward ownership structure for residential income use or an owner-occupant arrangement.
Key Highlights
- Newly constructed duplex completed in 2025
- 2,464‑square‑foot property with two separate residences
- Each unit includes 2 bedrooms and 2 full bathrooms
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
$28,761
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
4.97%
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%
$575,220
$575.2K
Cap Rate 7%
$410,871
$410.9K
Cap Rate 9%
$319,567
$319.6K
Market Conditions
NOI Build-Up for 2,464 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
$44.1K $17.88/SF
− Vacancy
−$3.0K −$1.21/SF
EGI
$41.1K $16.67/SF
− OpEx
−$12.3K −$5.00/SF
NOI
$28.8K $11.67/SF
Area
Pasco County, FL
Vacancy
6.74%
Lease Rate
$17.88 /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%
$575,220
Cap Rate 7%
$410,871
Cap Rate 9%
$319,567
Alternative Uses
Best Use
Multifamily LT 5
$410.9K
$359.5K – $479.4K
NOI $28,761 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$323.7K
$283.3K – $377.7K
NOI $22,662 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$561.3K
$491.1K – $654.8K
NOI $39,290 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,073
Businesses Nearby
Explore this area
Business Placement
Demographics for 34601, FL
23,001
Population
12,276
Households
1.9
Avg Household Size
50
Median Age
20%
College-Educated
88%
High-School Grad
114.0 sq mi
ZIP Area
202
Density / Sq Mi
$56,365
Median Household Income
$35,182
Median Earnings
$1,066
Median Rent
$151,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately configured residences offer flexible owner-occupant or rental use in a newly built property.
Where is this duplex located?
The property is located at 174 - 176 S LEMON AVENUE Brooksville, FL.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: Newly constructed duplex completed in 2025; 2,464‑square‑foot property with two separate residences; Each unit includes 2 bedrooms and 2 full bathrooms
