Commercial Properties on High-Traffic
For Sale
$375,000
2018 N FLORIDA Ave, Hernando, FL 34442
Two commercial properties in high-traffic area for the price of one.
Property Size2,960 SF
Lot Size0.25 Acres
Days on Market166
Property Features for 2018 N FLORIDA Ave
General Information
Standard status
Active
Size
2,960 SF
Lot size
0.25 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,139
Building Details
Building Size
2,960 SF
Year Built
1970
Stories
1
Listing Agency:
Landmark Realty
(352) 212-2161
Listed By:
Linda Bega · License #393153
(352) 212-2161
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 21 at 12:23PM
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
Investment Insights
Based on property information with market context.
This is an opportunity to own two commercial properties situated in a high-traffic area. The main building accommodates a retail antique store and a sign fabrication/car restoration business. The building features six offices/rooms, built-in desks and cabinets, a kitchen area, two bathrooms, and two sales areas. A warehouse/garage area is also present, equipped with three bay doors and an office. The sale includes an adjacent lot zoned GNC, suitable for additional parking, storage, or another business. The property benefits from 200 feet of frontage on Highway 41, offering visibility and accessibility. This property is suited for investors or business owners.
Key Highlights
- Two commercial properties for the price of one.
- High‑traffic location with 200 feet of frontage on Highway 41.
- Versatile main building suitable for multiple businesses with six offices/rooms, kitchen, bathrooms, and sales areas.
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
$28,438
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
7.58%
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%
$568,760
$568.8K
Cap Rate 7%
$406,257
$406.3K
Cap Rate 9%
$315,978
$316.0K
Market Conditions
NOI Build-Up for 2,960 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
$44.4K $15.00/SF
− Vacancy
−$3.8K −$1.28/SF
EGI
$40.6K $13.73/SF
− OpEx
−$12.2K −$4.12/SF
NOI
$28.4K $9.61/SF
Area
Citrus County, FL
Vacancy
8.50%
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%
$568,760
Cap Rate 7%
$406,257
Cap Rate 9%
$315,978
Alternative Uses
Best Use
Retail
$406.3K
$355.5K – $474.0K
NOI $28,438 @ 7.0% cap · market cap 7.58%
Second Best
Mixed Use
$396.0K
$346.5K – $462.0K
NOI $27,722 @ 7.0% cap · market cap 7.39%
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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two commercial properties in high-traffic area for the price of one.
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**.; Versatile main building suitable for multiple businesses with six offices/rooms, kitchen, bathrooms, and sales areas.
