Commercial Properties on High-Traffic
For Sale
$375,000
2018 N Florida Ave, Hernando, FL 34442
Two commercial properties in high-traffic area, versatile building and lot.
Property Size2,960 SF
Price / SF$126.69
Days on Market266
Property Features for 2018 N Florida Ave
General Information
Standard status
Active
Size
2,960 SF
Building Details
Year Built
1970
Listing Agency:
LANDMARK REALTY
Listed By:
Janet Bega · License #3162684
(352) 400-0529
Source:
Livewelltampabay
Added: Jan 26
Changed: Oct 11
Last Checked: Oct 7 at 1:02PM
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 LANDMARK REALTY
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Investment Insights
Based on property information with market context.
This offering presents a rare opportunity to acquire two commercial properties situated in a high-traffic area. The primary building accommodates two businesses: a retail antique store and a sign fabrication/car restoration business. This versatile building features six offices/rooms, complete with built-in desks and cabinets, a kitchen area, two bathrooms, and two sales areas. Additionally, a warehouse/garage area is included, equipped with three bay doors and an office. The adjacent lot, also part of the sale, is zoned GNC and offers potential for additional parking, storage, or the development of another business. The property benefits from 200 feet of frontage on Highway 41, ensuring excellent visibility and accessibility. This presents a significant opportunity for both investors and business owners.
Key Highlights
- Two commercial properties for the price of one.
- High‑traffic location with 200 feet of frontage on Highway 41.
- Main building includes six offices/rooms, built‑in features, kitchen, bathrooms, and sales areas.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,169
Cap Rate
8.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$623,380
$623.4K
Cap Rate 7%
$445,271
$445.3K
Cap Rate 9%
$346,322
$346.3K
Market Conditions
NOI Build-Up for 2,960 SF
Gross rent
$53.3K $18.00/SF
− Vacancy
−$11.7K −$3.96/SF
EGI
$41.6K $14.04/SF
− OpEx
−$10.4K −$3.51/SF
NOI
$31.2K $10.53/SF
Area
Citrus County, FL
Vacancy
22.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$623,380
Cap Rate 7%
$445,271
Cap Rate 9%
$346,322
Alternative Uses
Best Use
Office B
$445.3K
$389.6K – $519.5K
NOI $31,169 @ 7.0% cap · market cap 8.31%
Second Best
Retail
$406.3K
$355.5K – $474.0K
NOI $28,438 @ 7.0% cap · market cap 7.58%
Theoretical Best
Specialty Retail
$665.1K
$582.0K – $776.0K
NOI $46,557 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
127
Businesses Nearby
Explore this area
Business Placement
Demographics for 34442, FL
16,759
Population
9,852
Households
1.7
Avg Household Size
63
Median Age
27%
College-Educated
95%
High-School Grad
36.4 sq mi
ZIP Area
460
Density / Sq Mi
$55,473
Median Household Income
$36,864
Median Earnings
$965
Median Rent
$295,900
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 Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two commercial properties in high-traffic area, versatile building and lot.
Where is this mixed-use property located?
The property is located at 2018 N Florida Ave Hernando, FL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two commercial properties for the price of one.; High‑traffic location with **200 feet of frontage on Highway 41**.; Main building includes **six offices/rooms, built‑in features, kitchen, bathrooms, and sales areas.**
