Two-Suite Office
For Sale
Contact for pricing
1720 SE County Hwy 484, Belleview, FL 34420
Updated office property with mezzanine space, full bath, B5 zoning, and on-site parking.
Property Size2,130 SF
Lot Size0.46 Acres
Price / SF$340.38
Days on Market150
Property Features for 1720 SE County Hwy 484
General Information
Standard status
Active
Size
2,130 SF
Lot size
0.46 Acres
Property subtype
Office
Zoning
B5
Lease Type
NNN
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
2
Building Details
Year Built
1988
Buildings
1
Units
2
Tenancy
Multi
Listing Agency:
Busch Realty
(352) 804-5544
Listed By:
Lori Busch · License #FL 3104889
Source:
Crexi
Added: Apr 2
Changed: Aug 29
Last Checked: Aug 29 at 2:08PM
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 Busch Realty
Investment Insights
Based on property information with market context.
Built in 1988, this 2,130-square-foot office building is arranged as two suites and includes an upper mezzanine office with a full bath. The property has been updated and remodeled, with fresh interior paint, refreshed landscaping, and a roof installed in 2022. Current occupancy includes a chiropractic/physical therapy tenant and an engineering/realtor tenant.
The property fronts County Hwy 484 and sits 2.5 miles east of I-75, approximately 1/2 mile east of the traffic signal at Hwy 475 and Hwy 484. The 100 x 200-foot parcel is fenced and includes a lined parking area with 5 spaces plus additional overflow parking. B5 zoning supports the property’s office-oriented configuration.
The property fronts County Hwy 484 and sits 2.5 miles east of I-75, approximately 1/2 mile east of the traffic signal at Hwy 475 and Hwy 484. The 100 x 200-foot parcel is fenced and includes a lined parking area with 5 spaces plus additional overflow parking. B5 zoning supports the property’s office-oriented configuration.
Key Highlights
- 2,130 SF office building with two suites
- Upper mezzanine office with full bath
- Updated and remodeled; roof installed in 2022
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
$55,082
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
7.60%
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%
$1,101,640
$1.1M
Cap Rate 7%
$786,886
$786.9K
Cap Rate 9%
$612,022
$612.0K
Market Conditions
NOI Build-Up for 2,130 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
$80.0K $37.56/SF
− Vacancy
−$6.6K −$3.08/SF
EGI
$73.4K $34.48/SF
− OpEx
−$18.4K −$8.62/SF
NOI
$55.1K $25.86/SF
Area
Marion County, FL
Vacancy
8.20%
Lease Rate
$37.56 /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%
$1,101,640
Cap Rate 7%
$786,886
Cap Rate 9%
$612,022
Alternative Uses
Best Use
Office B
$786.9K
$688.5K – $918.0K
NOI $55,082 @ 7.0% cap · market cap 7.60%
Second Best
Healthcare Medical
$362.8K
$317.4K – $423.2K
NOI $25,393 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,420 @ 7.0% cap · market cap 11.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Explore this area
Business Placement
Demographics for 34420, FL
17,969
Population
8,555
Households
2.1
Avg Household Size
45
Median Age
14%
College-Educated
91%
High-School Grad
24.1 sq mi
ZIP Area
746
Density / Sq Mi
$52,551
Median Household Income
$34,599
Median Earnings
$909
Median Rent
$192,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Updated office property with mezzanine space, full bath, B5 zoning, and on-site parking.
Where is this office building located?
The property is located at 1720 SE County Hwy 484 Belleview, FL.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 2,130 SF office building with two suites; Upper mezzanine office with full bath; Updated and remodeled; roof installed in 2022
