9.75-Acre Redevelopment
For Sale
$1,950,000
16924 SHADY HILLS Rd, Spring Hill, FL 34610
9.75-acre site with commercial frontage and agricultural land.
Property Size4,611 SF
Lot Size9.75 Acres
Days on Market314
Property Features for 16924 SHADY HILLS Rd
General Information
Standard status
Active
Size
4,611 SF
Lot size
9.75 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,256
Building Details
Building Size
4,611 SF
Year Built
1979
Stories
1
Listing Agency:
RE/MAX REALTEC GROUP INC
Listed By:
Mark Ganier · License #201
(727) 403-5611
Source:
Elliman
Added: Nov 28, 2025
Changed: Oct 1
Last Checked: Oct 7 at 2:35PM
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 RE/MAX REALTEC GROUP INC
Investment Insights
Based on property information with market context.
This 9.75-acre site presents redevelopment or owner/user opportunities. It includes approximately 2 acres of commercial frontage on Shady Hills Road and 7.75 acres zoned for agriculture to the rear. Currently, an auto repair business operates in the concrete block/steel building on the frontage, with several steel utility structures located behind it. A single-family residence, used as owner's quarters, is also situated on the property. The site is equipped with three septic systems and drain fields, and potable water is supplied by a deep well. Potential redevelopment options include a convenience store, RV storage, or industrial outdoor storage. The rear portion of the property may also be suitable for 2-acre single-family estate residential development. Depending on the intended use, Pasco County may require a variance or rezoning change.
Key Highlights
- 9.75‑acre redevelopment site with commercial frontage and agricultural land.
- 2 acres (mol) of commercial frontage on Shady Hills Road.**
- Existing auto repair business on the frontage property.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,371
Cap Rate
3.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,187,420
$1.2M
Cap Rate 7%
$848,157
$848.2K
Cap Rate 9%
$659,678
$659.7K
Market Conditions
NOI Build-Up for 4,611 SF
Gross rent
$91.3K $19.80/SF
− Vacancy
−$6.5K −$1.41/SF
EGI
$84.8K $18.39/SF
− OpEx
−$25.4K −$5.52/SF
NOI
$59.4K $12.88/SF
Area
Spring Hill, FL
Vacancy
7.10%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,187,420
Cap Rate 7%
$848,157
Cap Rate 9%
$659,678
Alternative Uses
Best Use
Retail
$848.2K
$742.1K – $989.5K
NOI $59,371 @ 7.0% cap · market cap 3.04%
Second Best
Industrial
$636.1K
$556.6K – $742.1K
NOI $44,527 @ 7.0% cap · market cap 2.28%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,196 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Explore this area
Business Placement
Demographics for 34610, FL
15,400
Population
6,447
Households
2.4
Avg Household Size
44
Median Age
23%
College-Educated
87%
High-School Grad
68.0 sq mi
ZIP Area
226
Density / Sq Mi
$73,878
Median Household Income
$46,090
Median Earnings
$1,265
Median Rent
$254,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Commercial land - 9.75-acre site with commercial frontage and agricultural land.
Where is this commercial land located?
The property is located at 16924 SHADY HILLS Rd Spring Hill, FL.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 9.75‑acre redevelopment site with commercial frontage and agricultural land.; 2 acres (mol) of commercial frontage on Shady Hills Road.**; Existing auto repair business on the frontage property.
