Storefront with Highway
For Sale
Contact for pricing
237 W BROAD STREET, Groveland, FL 34736
Commercial building with on-site parking and C-2 zoning.
Property Size2,562 SF
Price / SF$232.24
Days on Market66
Property Features for 237 W BROAD STREET
General Information
Standard status
Active
Size
2,562 SF
Total Parking Spaces
5
Property subtype
Business for Sale
Zoning
C-2
Building Details
Year Built
1964
Buildings
1
Listing Agency:
Coldwell Banker Commercial Hubbard Hansen
Listed By:
Tony Hubbard · License #Bk3248831
Source:
Crexi
Added: Jun 27
Changed: Aug 31
Last Checked: Aug 31 at 9:16AM
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 Hubbard Hansen
Investment Insights
Based on property information with market context.
This storefront property at 237 W Broad Street provides 2,562 square feet of commercial building area, on-site parking, and C-2 zoning. Constructed in 1964, the property offers an established physical presence for retail or other commercially oriented uses supported by the zoning designation.
The site is in downtown Groveland with frontage along westbound Highway 50, placing the building on a prominent commercial route. Its address and downtown setting provide a clearly defined location for businesses seeking a storefront presence within the community.
The site is in downtown Groveland with frontage along westbound Highway 50, placing the building on a prominent commercial route. Its address and downtown setting provide a clearly defined location for businesses seeking a storefront presence within the community.
Key Highlights
- 2,562‑square‑foot commercial building
- C‑2 zoning
- Frontage along westbound Highway 50
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
$30,312
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
5.09%
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%
$606,240
$606.2K
Cap Rate 7%
$433,029
$433.0K
Cap Rate 9%
$336,800
$336.8K
Market Conditions
NOI Build-Up for 2,562 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
$46.1K $18.00/SF
− Vacancy
−$2.8K −$1.10/SF
EGI
$43.3K $16.90/SF
− OpEx
−$13.0K −$5.07/SF
NOI
$30.3K $11.83/SF
Area
Lake County, FL
Vacancy
6.10%
Lease Rate
$18.00 /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%
$606,240
Cap Rate 7%
$433,029
Cap Rate 9%
$336,800
Alternative Uses
Best Use
Retail
$433.0K
$378.9K – $505.2K
NOI $30,312 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$729.1K
$637.9K – $850.6K
NOI $51,035 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
365
Businesses Nearby
98k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 87%
Dining 10%
Electronics 3%
RaceTrac
Shops & Services
46,268 visits/mo
0.1 miles
7-Eleven
Shops & Services
21,829 visits/mo
0.1 miles
Hardee's
Dining
9,341 visits/mo
0.4 miles
Family Dollar
Shops & Services
4,570 visits/mo
0.3 miles
Shell
Shops & Services
3,782 visits/mo
0.0 miles
Demographics for 34736, FL
24,679
Population
10,029
Households
2.5
Avg Household Size
41
Median Age
32%
College-Educated
87%
High-School Grad
115.0 sq mi
ZIP Area
215
Density / Sq Mi
$82,478
Median Household Income
$42,322
Median Earnings
$1,535
Median Rent
$335,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Kim E's Flowers — 350 E Broad St #2585, Groveland, FL 34736
Frequently Asked Questions
What type of property is this?
Storefront property - Commercial building with on-site parking and C-2 zoning.
Where is this storefront property located?
The property is located at 237 W BROAD STREET Groveland, 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: 2,562‑square‑foot commercial building; C‑2 zoning; Frontage along westbound Highway 50
