Corner Commercial Lot For
For Sale
$375,000
138 W HERMOSA St, Lady Lake, FL 32159
Commercial lot with highway frontage and high visibility.
Property Size1,524 SF
Lot Size0.29 Acres
Days on Market154
Property Features for 138 W HERMOSA St
General Information
Standard status
Active
Size
1,524 SF
Lot size
0.29 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,636
Building Details
Building Size
1,524 SF
Year Built
1949
Listing Agency:
(352) 804-1216
Listed By:
TaMara York
(352) 804-1216
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Jul 16 at 11:10AM
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 TaMara York
Investment Insights
Based on property information with market context.
This corner commercial lot offers various business opportunities due to its HC heavy commercial zoning. It is suitable for national chains, drive-through establishments, cafes, retail businesses, or car parts and sales operations. The property features direct frontage on Highway 441 with multiple access points. Over 30,000 vehicles pass by this highly visible lot daily. Located approximately 3 miles from The Villages, the property is situated across from the Highway 466 intersection.
Key Highlights
- HC Heavy Commercial Zoning allows for diverse business opportunities.
- Direct frontage on Highway 441 with multiple access points.
- High visibility location with over 30,000 vehicles passing daily.
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
$19,237
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
5.13%
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%
$384,740
$384.7K
Cap Rate 7%
$274,814
$274.8K
Cap Rate 9%
$213,744
$213.7K
Market Conditions
NOI Build-Up for 1,524 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
$27.4K $18.00/SF
− Vacancy
−$1.8K −$1.17/SF
EGI
$25.6K $16.83/SF
− OpEx
−$6.4K −$4.21/SF
NOI
$19.2K $12.62/SF
Area
Sumter County, FL
Vacancy
6.50%
Lease Rate
$18.00 /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%
$384,740
Cap Rate 7%
$274,814
Cap Rate 9%
$213,744
Alternative Uses
Best Use
Specialty Retail
$274.8K
$240.5K – $320.6K
NOI $19,237 @ 7.0% cap · market cap 5.13%
Second Best
Retail
$246.1K
$215.3K – $287.1K
NOI $17,225 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$436.3K
$381.8K – $509.0K
NOI $30,541 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
613
Businesses Nearby
Explore this area
Business Placement
Demographics for 32159, FL
30,455
Population
19,670
Households
1.5
Avg Household Size
69
Median Age
29%
College-Educated
95%
High-School Grad
30.2 sq mi
ZIP Area
1,008
Density / Sq Mi
$57,536
Median Household Income
$30,723
Median Earnings
$1,370
Median Rent
$272,100
Median Home Value
Market
Vacancy Rate% for Retail 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 - Commercial lot with highway frontage and high visibility.
Where is this commercial land located?
The property is located at 138 W HERMOSA St Lady Lake, FL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: HC Heavy Commercial Zoning allows for diverse business opportunities.; Direct frontage on Highway 441 with multiple access points.; High visibility location with over 30,000 vehicles passing daily.
