Highway Frontage Former
For Sale
$599,000
18585 N HIGHWAY 441, Reddick, FL 32686
6.25 acre property with highway access and commercial space.
Property Size11,033 SF
Lot Size6.25 Acres
Days on Market270
Property Features for 18585 N HIGHWAY 441
General Information
Standard status
Active
Size
11,033 SF
Lot size
6.25 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$4,925
Building Details
Building Size
11,033 SF
Year Built
1957
Stories
1
Units
7
Listing Agency:
ROBERTS REAL ESTATE INC
(352) 816-7026
Listed By:
John Roberts · License #15921
(352) 816-7026
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 16
Last Checked: Aug 25 at 9:47AM
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 ROBERTS REAL ESTATE INC
Investment Insights
Based on property information with market context.
This unique property features 6.25 acres located on Highway 441, offering high visibility and easy access. The site includes 7 individual units, consisting of 5 duplexes and 2 single units, formerly operated as a motel. A commercial space is currently occupied on the northwest corner of the property. The owner is willing to subdivide the property, presenting potential opportunities for redevelopment or alternative uses.
Key Highlights
- 6.25 +/- Acres on Highway 441
- High Visibility and Very Easy Access
- 7 Individual Units (5 Duplexes and 2 Single Units)
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
$51,097
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
8.53%
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%
$1,021,940
$1.0M
Cap Rate 7%
$729,957
$730.0K
Cap Rate 9%
$567,744
$567.7K
Market Conditions
NOI Build-Up for 11,033 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
$165.5K $15.00/SF
− Vacancy
−$57.9K −$5.25/SF
EGI
$107.6K $9.75/SF
− OpEx
−$56.5K −$5.12/SF
NOI
$51.1K $4.63/SF
Area
Marion County, FL
Vacancy
35.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
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%
$1,021,940
Cap Rate 7%
$729,957
Cap Rate 9%
$567,744
Alternative Uses
Best Use
Retail
$3.96M
$3.47M – $4.62M
NOI $277,495 @ 7.0% cap · market cap 46.33%
Second Best
Hotel Hospitality
$730.0K
$638.7K – $851.6K
NOI $51,097 @ 7.0% cap · market cap 8.53%
Theoretical Best
Office A
$6.02M
$5.27M – $7.03M
NOI $421,740 @ 7.0% cap · market cap 70.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32686, FL
4,339
Population
2,691
Households
1.6
Avg Household Size
51
Median Age
16%
College-Educated
91%
High-School Grad
72.5 sq mi
ZIP Area
60
Density / Sq Mi
$46,793
Median Household Income
$30,265
Median Earnings
$862
Median Rent
$279,000
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.
Similar Off Market Nearby
- Any — 17980 N US Hwy 441, Orange Lake, FL 32681
Frequently Asked Questions
What type of property is this?
Motel - 6.25 acre property with highway access and commercial space.
Where is this motel located?
The property is located at 18585 N HIGHWAY 441 Reddick, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 6.25 +/- Acres on Highway 441; High Visibility and Very Easy Access; 7 Individual Units (5 Duplexes and 2 Single Units)
