Corner Lot Retail
For Sale
$369,900
1340 HOWELL Avenue, Brooksville, FL 34601
SINGLE_FAMILY - BROOKSVILLE, FL
Property Size2,040 SF
Lot Size0.22 Acres
Price / SF$181.32
Days on Market476
Property Features for 1340 HOWELL Avenue
General Information
Property type
Residential
Property subtype
Retail
Zoning
C1
Subdivision
NORTH BROOK
Lot features
Corner Lot, Sidewalk, Paved
Directions
From the Courthouse on Main Street...follow north onto Howell Ave. Go past Hernando High School. The building will be on your right at the corner of Howell and Brook, prior to getting to Yontz and US 41.
Standard status
Active
APN
R14-122-19-0700-00A0-0030
Size
2,040 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
NORTH BROOK BEING A PART OF BLK A A TRACT 105.63X100.95X130X61X 65.03 FT MOL PART LOTS 3 & 4
Tax Annual Amount
1955
Legal Description
NORTH BROOK BEING A PART OF BLK A A TRACT 105.63X100.95X130X61X 65.03 FT MOL PART LOTS 3 & 4
Utilities
Utilities
Electricity Available
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1967
Floors in Building
1
Flooring type
Terrazzo
Building materials
Block, Stucco, Frame
Roof type
Shingle
Listing Agency:
HOME LAND REAL ESTATE INC
(352) 556-0909
Listed By:
Kimberly Pye, PA · License #3315876
(352) 279-1150
Added: Apr 22, 2025
Changed: Jul 31
Last Checked: Aug 10 at 8:06AM
MLS# W7874695
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This corner-lot retail space is currently used as a variety store, and the sale includes the variety store contents. The building has central heating and central air, terrazzo flooring, and a shingle roof. Construction is block, stucco, and frame, built in 1967, with two brand new AC units installed in 2025. The property has one bathroom, with mention that a second bathroom could be put back in if desired, and it’s served by public water and septic.
The site is zoned C1 and includes electricity available. There are 6 parking spaces already, with the ability to add more easily. The fenced backyard supports flexible retail or office use. The property is described as being just outside the city limit, not far from Hernando High School, and about 2 minutes to downtown Brooksville. Roof details are provided as 2008, and the property is noted as having no flood.
With the existing retail setup and included store contents, the building can also support a professional services or office-style tenant looking to operate from their own space rather than leasing elsewhere.
The site is zoned C1 and includes electricity available. There are 6 parking spaces already, with the ability to add more easily. The fenced backyard supports flexible retail or office use. The property is described as being just outside the city limit, not far from Hernando High School, and about 2 minutes to downtown Brooksville. Roof details are provided as 2008, and the property is noted as having no flood.
With the existing retail setup and included store contents, the building can also support a professional services or office-style tenant looking to operate from their own space rather than leasing elsewhere.
Key Highlights
- Zoned C1 retail building currently operating as a variety store; contents included
- Two brand new AC units installed in 2025 with central heating and central air
- Corner lot with fenced backyard and 6 parking spaces; space to add more easily
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
$20,028
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
5.41%
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%
$400,560
$400.6K
Cap Rate 7%
$286,114
$286.1K
Cap Rate 9%
$222,533
$222.5K
Market Conditions
NOI Build-Up for 2,040 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
$30.6K $15.00/SF
− Vacancy
−$2.0K −$0.98/SF
EGI
$28.6K $14.03/SF
− OpEx
−$8.6K −$4.21/SF
NOI
$20.0K $9.82/SF
Area
Pasco County, FL
Vacancy
6.50%
Lease Rate
$15.00 /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%
$400,560
Cap Rate 7%
$286,114
Cap Rate 9%
$222,533
Alternative Uses
Best Use
Retail
$286.1K
$250.4K – $333.8K
NOI $20,028 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$464.7K
$406.6K – $542.2K
NOI $32,529 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
827
Businesses Nearby
12k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 59%
Dining 35%
Home Improvements & Furnishings 6%
Truist
Shops & Services
7,077 visits/mo
0.4 miles
The Bistro
Dining
4,192 visits/mo
0.4 miles
City Electric Supply
Home Improvements & Furnishings
658 visits/mo
0.4 miles
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Zoned C1 retail building with a fenced backyard, 6 parking spaces, public water, and septic for straightforward business use.
Where is this retail space located?
The property is located at 1340 HOWELL Avenue Brooksville, FL.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: Zoned C1 retail building currently operating as a variety store; contents included; Two brand new AC units installed in 2025 with central heating and central air; Corner lot with fenced backyard and 6 parking spaces; space to add more easily
