Highway Frontage Commercial
For Sale
$2,250,000
1346 US 27, Lake Placid, FL
Prime commercial land with highway frontage and existing buildings.
Property Size7,874 SF
Lot Size10.07 Acres
Price / SF$285.75
Days on Market153
Property Features for 1346 US 27
General Information
Standard status
Active
Size
7,874 SF
Lot size
10.07 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$24,883
Building Details
Year Built
1989
Listing Agency:
Advantage Realty
(863) 381-4932
Listed By:
Gregory Karlson · License #B26060588
(863) 381-4932
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 2:22PM
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 Advantage Realty
Investment Insights
Based on property information with market context.
This property features over 10 acres of land with frontage on US Highway 27. It includes three existing buildings totaling 7874 square feet, originally constructed as model homes for the adjacent Tomoka Heights gated community. The buildings were previously used as medical offices and are maintained in good condition. There are 40 paved parking spaces in the current configuration. The property is located next to the upscale, gated Tomoka Heights community to the north and west. It offers 1/5 mile of highway frontage, situated opposite the planned Amazon Fulfillment Center. A dedicated highway crossover with deceleration lanes is available in both directions. The existing R3 zoning allows for various uses, including medical and professional offices, single and multi-family housing, apartments, condos, hotels/motels, and assisted living/nursing care. Additionally, seven acres zoned B3 are available directly across the highway.
Key Highlights
- Over 10 acres of prime US Highway 27 frontage.
- Excellent location opposite the expected Amazon Fulfillment Center.
- Existing R3 zoning permits diverse uses: medical/professional offices, housing, apartments, hotels, assisted living.
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
$80,149
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
3.56%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
108
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Prime commercial land with highway frontage and existing buildings.
Where is this commercial land located?
The property is located at 1346 US 27 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: Over 10 acres of prime US Highway 27 frontage.; Excellent location opposite the expected Amazon Fulfillment Center.; Existing R3 zoning permits diverse uses: medical/professional offices, housing, apartments, hotels, assisted living.
