Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Historic District Commercial Buildings Title is generated by Realmo AI

    20607 W Pennsylvania Avenue, Dunnellon, FL 34431

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Two buildings in Dunnellon's Historic District, suitable for various uses.

    Type:Office
    Property size:
    3,590 SF
    Price / SF:
    $165/SF
    Added:
    Feb 10, 2024
    Days on Market:
    823
    Last Refresh:
    Mar 16 at 12:59 pm

    Property Features for 20607 W Pennsylvania Avenue

    General Information

    Standard status
    Active
    Size
    3,590 SF
    Property subtype
    Office

    Building Details

    Year Built
    1923

    We can help!

    Listing Contact
    Anthony White
    Anthony White

    Listing agent Anthony White License #BK3013806

    Listing office Coldwell Banker Commercial Ellison Realty Ocala

    Listing date Feb 10, 2024

    Source Crexi

    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 Coldwell Banker Commercial Ellison Realty Ocala

    HighLights

    • Prime location in the Heart of the Historic District of Dunnellon.
    • Two buildings totaling 3,590 SF (1,230 SF + 2,360 SF).
    • Building Two is suitable for diverse commercial uses (Medical, Retail, Office, Restaurant, Boutique).
    • Building Two features multiple large rooms and 3 restrooms.
    • Includes 9 dedicated parking spaces, plus public parking across the street.
    • Buildings recently inspected and maintained to ensure good condition.

    Overview

    Located in the heart of the Historic District of Dunnellon, this property features two buildings. The first building offers 1,230 square feet of space. The second building provides 2,360 square feet and includes multiple large rooms and three restrooms. The property is suitable for various commercial uses, including medical offices, retail spaces, law offices, accounting firms, restaurants, and clothing boutiques. There are nine dedicated parking spaces available, with additional public parking located across the street. A recent inspection by the new owner confirmed that both buildings are in good condition. The total property size is 3,590 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mamas Drop-In Kid ... Daycare Center

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Building Supply Gym & Fitness Center Nail Salon Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Dunnellon
    County
    Citrus
    State
    Florida
    Longitude
    -82.4621778
    Latitude
    29.0496683

    Nearby Similar for Sale

    • $599,800
      1,232 SF

      Dunnellon Mixed-Use Drive-Through Opportunity

      Prime Dunnellon location with drive-through potential on busy corner.
      20371 E MCKINNEY AVENUE, DUNNELLON, FL 34432
      View Details
    • $315,000

      Commercial Property in Dunnellon, Florida

      Commercial property with retail, office, and warehouse space for sale.
      2728 W Dunnellon Road, Dunnellon, FL 34433
      View Details
    • $899,000
      2,188 SF

      Upgraded Farm Retreat with Equestrian Amenities

      Private farm retreat with modern upgrades and equestrian amenities.
      12524 SW 109TH PLACE, DUNNELLON, FL 34432
      View Details
    • $735,000

      Equestrian Farm on 23 Acres

      Established equestrian farm with barn, pastures, and riding rings.
      11375 N Circle M Avenue, Dunnellon, FL 34433
      View Details
    • $1,144,725
      2,372 SF

      Equestrian Estate with Wellness Retreat

      Unique horse property designed for performance, comfort, and care.
      20462 SW 36TH STREET, DUNNELLON, FL 34431
      View Details
    • $285,000

      Versatile Building Near Dunnellon

      Versatile building with office spaces, kitchen, and detached garage.
      11840 N Angus Hills Terrace, Dunnellon, FL 34433
      View Details
    • $140,000

      DUNNELLON Land Near WEC

      3.26 acre mini farm near World Equestrian Center.
      21635 SW 10TH STREET, DUNNELLON, FL 34431
      View Details
    • $1,599,995
      250 SF

      Equestrian Farm Near World Center

      50-acre equestrian farm with barns near World Equestrian Center.
      7970 SW 140TH AVENUE, DUNNELLON, FL 34432
      View Details
    • $409,000
      2,312 SF

      Renovated Duplex in Dunnellon, FL

      Fully renovated duplex with income potential near Rainbow River.
      11987 MAPLE STREET, DUNNELLON, FL 34432
      View Details
    • $895,000
      2,178 SF

      Dunnellon Equine Center and Farm

      Equine center and farm on 13.66 acres near Ocala.
      20221 SW 5TH PLACE, DUNNELLON, FL 34431
      View Details
    • $585,000
      864 SF

      Secluded Farm Property with Potential

      Private 9.62-acre farm with stilt home and pastures.
      23961 SW DOGWOOD LANE, DUNNELLON, FL 34431
      View Details
    • $277,000

      Commercially Zoned Building on Dunnellon

      Commercially zoned building with high visibility and flexible space.
      3490 W Dunnellon Road, Dunnellon, FL 34433
      View Details

    FAQs

    What type of property is this?
    Office building - Two buildings in Dunnellon's Historic District, suitable for various uses.
    Where is this office building located?
    The property is located at 20607 W Pennsylvania Avenue Dunnellon, FL.
    What is the asking price?
    The asking price for this property is $595,000.
    What are key features of this property?
    This property features: Prime location in the Heart of the Historic District of Dunnellon.; Two buildings totaling 3,590 SF (1,230 SF + 2,360 SF).; Building Two is suitable for diverse commercial uses (Medical, Retail, Office, Restaurant, Boutique).
    (352) 427-2907 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Anthony White
    Anthony White
    Real Estate License ID: BK3013806
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    20607 W Pennsylvania Avenue, DUNNELLON, FL 34431
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!