Commercial Land with Existing
For Sale
$2,250,000
1346 Us 27 Highway N, Lake Placid, FL 33852
Commercial, Lake Placid, FL
Property Size7,874 SF
Lot Size10.08 Acres
Price / SF$285.75
Days on Market267
Property Features for 1346 Us 27 Highway N
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R3
Parking
40
Directions
From Sebring, proceed south on US 27 toward Lake Placid. Entrance is 800 feet south of N Tomoka Blvd, and 1100 feet north of S Tomoka Blvd and the main entrance to Advent Health Lake Placid hospital. Property can also be accessed by private road to the north from S. Tomoka Blvd.
Standard status
Active
APN
P-25-36-29-A00-0070-0030
Size
7,874 SF
Lot size
10.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
A 10.08 ACRE TR ON SW R/W OF US HWY 27 SE OF TOMOKA HTS SEC 1 + 575 FT N OF TOMOKA BLVD SOUTH LESS A 20 X 196.75 FT STRIP IN SE COR AND A 20 X 197.4 FT STRIP ON NW SIDE OF LOT 1 TOMOKA HTS PROF PARK PB 15 PG 81 25-36-29/7-3 10.07 ACRES
Tax Annual Amount
28100
Legal Description
A 10.08 ACRE TR ON SW R/W OF US HWY 27 SE OF TOMOKA HTS SEC 1 + 575 FT N OF TOMOKA BLVD SOUTH LESS A 20 X 196.75 FT STRIP IN SE COR AND A 20 X 197.4 FT STRIP ON NW SIDE OF LOT 1 TOMOKA HTS PROF PARK PB 15 PG 81 25-36-29/7-3 10.07 ACRES
Building Details
Year built
1989
Listing Agency:
ADVANTAGE REALTY #1
(863) 386-0303
Listed By:
Jim Pyle · License #3558006
(863) 297-7833
Added: Jan 19
Changed: Aug 19
Last Checked: Oct 13 at 11:06PM
MLS# 321714
Copyright © 2026 Heartland Multiple Listing Service, Inc. 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 10.08-acre commercial land holding includes three existing buildings totaling 7,874 square feet. Constructed in 1989 as model homes for a neighboring gated community, the buildings were previously used as medical offices and are described as clean and well maintained. The site is currently configured with 40 paved parking spaces.
The property fronts US Highway 27 for 1/5 mile and has a dedicated highway crossover with deceleration lanes in both directions. A private road connects south toward Advent Health hospital and S. Tomoka Boulevard. The hospital, medical offices, and Health & Rehabilitation Center are adjacent to the south, while the gated Tomoka Heights community borders the north and west. The new Amazon facility is located opposite the property.
R3 zoning permits medical and professional offices, single- and multifamily housing, apartments, condominiums, hotels and motels with or without restaurants, and assisted living or nursing care, among other uses.
The property fronts US Highway 27 for 1/5 mile and has a dedicated highway crossover with deceleration lanes in both directions. A private road connects south toward Advent Health hospital and S. Tomoka Boulevard. The hospital, medical offices, and Health & Rehabilitation Center are adjacent to the south, while the gated Tomoka Heights community borders the north and west. The new Amazon facility is located opposite the property.
R3 zoning permits medical and professional offices, single- and multifamily housing, apartments, condominiums, hotels and motels with or without restaurants, and assisted living or nursing care, among other uses.
Key Highlights
- 10.08‑acre commercial land parcel with 7,874 square feet across three existing buildings
- 1/5 mile of US Highway 27 frontage
- Dedicated highway crossover with deceleration lanes in both directions
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,149
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,602,980
$1.6M
Cap Rate 7%
$1,144,986
$1.1M
Cap Rate 9%
$890,544
$890.5K
Market Conditions
NOI Build-Up for 7,874 SF
Gross rent
$137.0K $17.40/SF
− Vacancy
−$30.1K −$3.83/SF
EGI
$106.9K $13.57/SF
− OpEx
−$26.7K −$3.39/SF
NOI
$80.1K $10.18/SF
Area
Highlands County, FL
Vacancy
22.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,602,980
Cap Rate 7%
$1,144,986
Cap Rate 9%
$890,544
Alternative Uses
Best Use
Office B
$1.14M
$1.00M – $1.34M
NOI $80,149 @ 7.0% cap · market cap 3.56%
Second Best
Healthcare Medical
$978.6K
$856.2K – $1.14M
NOI $68,499 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,671 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
47
Businesses Nearby
Explore this area
Business Placement
Demographics for 33852, FL
21,635
Population
12,991
Households
1.7
Avg Household Size
55
Median Age
20%
College-Educated
85%
High-School Grad
293.4 sq mi
ZIP Area
74
Density / Sq Mi
$54,841
Median Household Income
$39,658
Median Earnings
$1,063
Median Rent
$205,800
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Commercial land - R3-zoned property includes existing improvements and paved parking.
Where is this commercial land located?
The property is located at 1346 Us 27 Highway N Lake Placid, FL.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 10.08‑acre commercial land parcel with 7,874 square feet across three existing buildings; 1/5 mile of US Highway 27 frontage; Dedicated highway crossover with deceleration lanes in both directions
