Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    138 W Hermosa St Lady Lake, FL 32159

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Corner commercial lot with high visibility and highway access.

    Type:Mixed Use, Retail
    Added:
    Dec 10, 2024
    Days on Market:
    505
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 138 W Hermosa St

    General Information

    Standard status
    Active
    Property subtype
    Mixed Use, Retail

    Building Details

    Year Built
    1949

    We can help!

    Listing Contact
    TaMara York

    Listing agent TaMara York License #BK3428825

    Listing office Engel & Völkers

    Listing date Dec 10, 2024

    Source Crexi

    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 Engel & Völkers

    Overview

    Commercial Lot with Highway Frontage

    This corner commercial lot offers various business opportunities due to its HC heavy commercial zoning. It features direct frontage on Highway 441 and multiple access points. The property benefits from high visibility, with over 30,000 vehicles passing by daily. Located approximately 3 miles from The Villages, the lot is situated across from Highway 466.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Isom's Automotive Auto Repair Shop

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lady Lake
    County
    Sumter
    State
    Florida
    Longitude
    -81.9230871
    Latitude
    28.9196943

    Nearby Similar for Sale

    • $1,300,000

      Luxurious Medical Suite in Lady Lake

      Move-in-ready medical suite with high-end finishes and flexible layout.
      809 County Road 466, Lady Lake, FL 32159
      View Details
    • $399,999

      Commercial Lot on Highway 441

      Corner commercial lot with high visibility and heavy commercial zoning.
      138 W HERMOSA STREET, LADY LAKE, FL 32159
      View Details
    • $640,000
      2,328 SF

      Lady Lake Professional Plaza Office

      Office space in Lady Lake Professional Plaza available for sale.
      918 ROLLING ACRES, LADY LAKE, FL 32159
      View Details
    • $199,000
      1,290 SF

      Remodeled Mixed-Use Building, Lady Lake

      Remodeled mixed-use building in Lady Lake, close to The Villages.
      219 W MCCLENDON STREET, LADY LAKE, FL 32159
      View Details
    • $20,000

      Residential Lot in Lady Lake

      0.36-acre residential lot near The Villages amenities.
      OAKRIDGE DRIVE, LADY LAKE, FL 32159
      View Details
    • $160,000

      Lakefront Land in Lady, FL

      5+ acre lakefront property in Lake County, Florida.
      0 Harris Lake Rd, Lady, FL 32159
      View Details
    • $260,000
      928 SF

      Lady Lake Office Near US-441

      Office space in Lady Lake near The Villages Community.
      918 ROLLING ACRES ROAD, LADY LAKE, FL 32159
      View Details
    • $1,825,000
      6,666 SF

      Lady Lake Church Property

      Two buildings on 2.19 acres in Lady Lake area.
      1055 & 1085 TEAGUE Trl, Lady Lake, FL 32159
      View Details
    • $2,200,000
      5,204 SF

      Lady Lake Freestanding Retail Building

      Freestanding commercial building in Lady Lake, Florida, near The Villages.
      8825 NE 134th Ave, Lady Lake, FL 32159
      View Details
    • $55,000

      Residential Lot in Lady Lake

      Residential lot in Lady Lake, near The Villages.
      HIGHLAND TRAIL, LADY LAKE, FL 32159
      View Details
    • $619,000
      1,920 SF

      Medical/Professional Space in Lady Lake

      Medical-ready/professional space with excellent synergy in a desirable location.
      749 COUNTY ROAD 466, LADY LAKE, FL 32159
      View Details
    • $95,000

      Lady Lake Acreage Homesite

      Premier 1+ acre lot near The Villages with stunning views.
      HUTCHINSON WAY, LADY LAKE, FL 32159
      View Details

    FAQs

    What type of property is this?
    Commercial land - Corner commercial lot with high visibility and highway access.
    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 $399,999.
    What are key features of this property?
    This property features: Direct highway 441 frontage.; HC heavy commercial zoning allows for diverse business opportunities.; High visibility with over 30,000 vehicles driving by daily.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    TaMara York
    Real Estate License ID: BK3428825
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!