C1 Commercial Land With
For Sale
$499,000
28380 FORBES Street, Nobleton, FL 34661
Commercial Sale, NOBLETON, FL
Property Size1,655 SF
Lot Size3.12 Acres
Price / SF$301.51
Days on Market522
Property Features for 28380 FORBES Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C1
Lot features
Corner Lot, Flood Zone, Neighbourhood, Undeveloped, Wooded
Directions
Heading North on US-41 towards Inverness, you will turn right onto Lake Lindsey Rd. Follow Lake Lindsey Road for approximately 4.7 Miles, and then turn right onto Forbes Street. (Note: Your GPS may refer to it as Sentinel Street, but the Sign is Forbes). The Commercial Property will be on your immediate Right, and the Residential Property will be on your left. The parcel maps are in the attachments to assist you in identifying the property.
Subdivision
34661 - Nobleton
Standard status
Active
APN
R24-421-20-0000-0010-0010
Size
1,655 SF
Lot size
3.12 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
3.1 AC MOL IN NW1/4 DES IN ORB 528 PG 1261
Tax Annual Amount
3314
Legal Description
3.1 AC MOL IN NW1/4 DES IN ORB 528 PG 1261
Utilities
Sewer type
Septic Tank
Cooling system
Central Air
Water source
Well
Building Details
Year built
1985
Floors in Building
1
Flooring type
Concrete
Building materials
Block, Concrete
Additional Structures
Outbuilding
Listing Agency:
DENNIS REALTY & INV. CORP.
(813) 949-7444
Listed By:
Paul Salter · License #3526915
(352) 601-8446
Added: Mar 26, 2025
Changed: Aug 24
Last Checked: Aug 29 at 3:06PM
MLS# TB8366446
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This C1 commercial property encompasses 3.12 acres and includes three existing buildings. The property size is 1,655 square feet, with block and concrete construction, concrete flooring, and central air conditioning. Built in 1985, the improvements are served by a well and septic tank.
The site fronts Lake Lindsey Road in Nobleton, providing exposure along a significant local thoroughfare. Interstate 75 is approximately 11 minutes away, while US-41 is approximately 7 minutes away. The location offers connections toward Inverness, Ocala, and Tampa.
The combination of commercial zoning, multiple existing structures, and a sizable land component creates a property suited to evaluation for business development under applicable C1 requirements.
The site fronts Lake Lindsey Road in Nobleton, providing exposure along a significant local thoroughfare. Interstate 75 is approximately 11 minutes away, while US-41 is approximately 7 minutes away. The location offers connections toward Inverness, Ocala, and Tampa.
The combination of commercial zoning, multiple existing structures, and a sizable land component creates a property suited to evaluation for business development under applicable C1 requirements.
Key Highlights
- 3.12‑acre C1 commercial property
- Three existing buildings on the site
- 1,655 square feet of property size
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
$16,248
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
3.26%
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%
$324,960
$325.0K
Cap Rate 7%
$232,114
$232.1K
Cap Rate 9%
$180,533
$180.5K
Market Conditions
NOI Build-Up for 1,655 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
$24.8K $15.00/SF
− Vacancy
−$1.6K −$0.98/SF
EGI
$23.2K $14.03/SF
− OpEx
−$7.0K −$4.21/SF
NOI
$16.2K $9.82/SF
Area
Hernando County, FL
Vacancy
6.50%
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%
$324,960
Cap Rate 7%
$232,114
Cap Rate 9%
$180,533
Alternative Uses
Best Use
Retail
$232.1K
$203.1K – $270.8K
NOI $16,248 @ 7.0% cap · market cap 3.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$377.0K
$329.9K – $439.8K
NOI $26,390 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Explore this area
Business Placement
Demographics for 34661, FL
260
Population
285
Households
0.9
Avg Household Size
56
Median Age
9%
College-Educated
78%
High-School Grad
9.0 sq mi
ZIP Area
29
Density / Sq Mi
$28,972
Median Earnings
$144,400
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.
Frequently Asked Questions
What type of property is this?
Commercial land - C1-zoned land includes three existing buildings with frontage along Lake Lindsey Road.
Where is this commercial land located?
The property is located at 28380 FORBES Street Nobleton, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 3.12‑acre C1 commercial property; Three existing buildings on the site; 1,655 square feet of property size
