Highway Corner Commercial
For Sale
$163,000
18132 COMMERCIAL Way, Weeki Wachee, FL 34614
Commercial Sale, WEEKI WACHEE, FL
Property Size576 SF
Lot Size0.48 Acres
Price / SF$282.99
Days on Market413
Property Features for 18132 COMMERCIAL Way
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Subdivision
ROYAL HIGHLANDS
Directions
FROM US HWY 19 AND S.R. 50 / TAKE US HWY 19 NORTH FOR 12 MILES AND PROPERTY WILL BE ON EAST SIDE OF US HWY 19.
Standard status
Active
APN
R01-221-17-3290-0087-0010
Size
576 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
ROYAL HIGHLANDS UNIT 1-B BLK 87 LOT 1
Tax Annual Amount
1287
Legal Description
ROYAL HIGHLANDS UNIT 1-B BLK 87 LOT 1
Utilities
Utilities
Electricity Available
Sewer type
Septic Tank
Cooling system
Window Unit(s), Wall/Window Unit(s)
Building Details
Year built
2003
Floors in Building
2
Building materials
Frame
Roof type
Shingle
Listing Agency:
RE/MAX SUNSET REALTY · RE/MAX International
(727) 863-2402
Listed By:
Louis Petruzzelli PA · License #698210
(727) 505-5111
Added: Jul 9, 2025
Changed: Aug 24
Last Checked: Aug 25 at 6:06AM
MLS# W7877158
Copyright © 2026 West Pasco Board of Realtors. 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 commercial land offering includes a 0.48-acre corner parcel along US Hwy 19, with a 576-square-foot frame structure built in 2003. The improvement has window or wall/window cooling, a shingle roof, and electricity available. Sewer service is provided by septic tank.
The site includes a newly paved entrance way and benefits from a US Hwy 19 crossover serving traffic traveling in both northbound and southbound directions. Lot dimensions are approximately 75 X 284. The property is located in Weeki Wachee, Florida, within Hernando County.
The site includes a newly paved entrance way and benefits from a US Hwy 19 crossover serving traffic traveling in both northbound and southbound directions. Lot dimensions are approximately 75 X 284. The property is located in Weeki Wachee, Florida, within Hernando County.
Key Highlights
- 0.48‑acre commercial corner lot along US Hwy 19
- 576‑square‑foot frame structure built in 2003
- US Hwy 19 crossover serves northbound and southbound traffic
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
$5,655
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
3.47%
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%
$113,100
$113.1K
Cap Rate 7%
$80,786
$80.8K
Cap Rate 9%
$62,833
$62.8K
Market Conditions
NOI Build-Up for 576 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
$8.6K $15.00/SF
− Vacancy
−$562 −$0.98/SF
EGI
$8.1K $14.03/SF
− OpEx
−$2.4K −$4.21/SF
NOI
$5.7K $9.82/SF
Area
Hernando County, FL
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$113,100
Cap Rate 7%
$80,786
Cap Rate 9%
$62,833
Alternative Uses
Best Use
Retail
$80.8K
$70.7K – $94.3K
NOI $5,655 @ 7.0% cap · market cap 3.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$131.2K
$114.8K – $153.1K
NOI $9,185 @ 7.0% cap · market cap 5.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Explore this area
Business Placement
Demographics for 34614, FL
9,221
Population
3,401
Households
2.7
Avg Household Size
43
Median Age
20%
College-Educated
89%
High-School Grad
54.9 sq mi
ZIP Area
168
Density / Sq Mi
$79,560
Median Household Income
$45,719
Median Earnings
$1,194
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 - C-2 commercial land with a paved entrance and an existing small frame improvement.
Where is this commercial land located?
The property is located at 18132 COMMERCIAL Way Weeki Wachee, FL.
What is the asking price?
The asking price for this property is $163,000.
What are key features of this property?
This property features: 0.48‑acre commercial corner lot along US Hwy 19; 576‑square‑foot frame structure built in 2003; US Hwy 19 crossover serves northbound and southbound traffic
