Office and Shop Flex
For Sale
$450,000
1411 NW 23rd Ave, Chiefland, FL 32626
Commercial Sale, Chiefland, FL
Property Size4,264 SF
Lot Size0.45 Acres
Price / SF$105.53
Days on Market342
Property Features for 1411 NW 23rd Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Not in Subdivision
Lot features
Central Electric
Directions
FROM CHIEFLAND - Take 320 to NW 14th ave and turn right, Turn left onto NW 23rd ave and property will be on the left. Look for the UNITED COUNTRY - SMITH & ASSOCIATES REALTY Signs!
Standard status
Active
APN
0071500100
Size
4,264 SF
Lot size
0.45 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
26-11-14 0000.45 ACRES TRACT IN NE1/4 OF NE1/4 OF NE1/4 OR BOOK 1207 PAGE 578 -LESS RD R/W-
Tax Annual Amount
5036
Legal Description
26-11-14 0000.45 ACRES TRACT IN NE1/4 OF NE1/4 OF NE1/4 OR BOOK 1207 PAGE 578 -LESS RD R/W-
Building Details
Year built
2004
Listing Agency:
United Country Smith & Associates Trenton
(352) 463-7770
Listed By:
Brad Smith · License #550985
(352) 221-5256
Added: Sep 15, 2025
Changed: Aug 19
Last Checked: Aug 22 at 3:06PM
MLS# 795691
Copyright © 2026 Dixie-Gilchrist-Levy Multiple Listing Service. 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 flex-style commercial property for sale includes a paved parking lot for four vehicles and a front office component with a large waiting room, seven offices, and a kitchenette. At the rear, there is a shop area described as suitable for manufacturing and storage.
The property is located in Chiefland, Florida, among other thriving businesses, with convenient access noted from well-traveled Hwy 19.
The overall site is listed at approximately 0.45 acres with a building size of 4,264 square feet.
The property is located in Chiefland, Florida, among other thriving businesses, with convenient access noted from well-traveled Hwy 19.
The overall site is listed at approximately 0.45 acres with a building size of 4,264 square feet.
Key Highlights
- Established commercial property in Chiefland, Florida
- High‑visibility location on well‑traveled Hwy 19
- Includes a paved 4‑vehicle parking lot
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
$39,994
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
8.89%
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%
$799,880
$799.9K
Cap Rate 7%
$571,343
$571.3K
Cap Rate 9%
$444,378
$444.4K
Market Conditions
NOI Build-Up for 4,264 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
$66.5K $15.60/SF
− Vacancy
−$5.0K −$1.17/SF
EGI
$61.5K $14.43/SF
− OpEx
−$21.5K −$5.05/SF
NOI
$40.0K $9.38/SF
Area
Levy County, FL
Vacancy
7.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
35.00%
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%
$799,880
Cap Rate 7%
$571,343
Cap Rate 9%
$444,378
Alternative Uses
Best Use
Office B
$759.8K
$664.9K – $886.5K
NOI $53,189 @ 7.0% cap · market cap 11.82%
Second Best
Flex RnD
$571.3K
$499.9K – $666.6K
NOI $39,994 @ 7.0% cap · market cap 8.89%
Theoretical Best
Office A
$1.06M
$924.1K – $1.23M
NOI $73,928 @ 7.0% cap · market cap 16.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Office units
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
333
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32626, FL
8,620
Population
4,358
Households
2
Avg Household Size
47
Median Age
13%
College-Educated
89%
High-School Grad
243.6 sq mi
ZIP Area
35
Density / Sq Mi
$49,643
Median Household Income
$34,057
Median Earnings
$844
Median Rent
$160,900
Median Home Value
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?
Flex space - Flex facility with multiple offices, kitchenette, and a back shop suited for manufacturing or storage.
Where is this flex space located?
The property is located at 1411 NW 23rd Ave Chiefland, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Established commercial property in Chiefland, Florida; High‑visibility location on well‑traveled Hwy 19; Includes a paved 4‑vehicle parking lot
