Light Industrial
For Sale
$1,300,000
3360 West Crigger Court, Lecanto, FL 34461
Warehouse facility zoned for light industrial use in Lecanto, Florida.
Property Size14,400 SF
Price / SF$90.28
Days on Market95
Property Features for 3360 West Crigger Court
General Information
Standard status
Active
Size
14,400 SF
Property subtype
Industrial
Zoning
Light MFG
Building Details
Building Size
14,400 SF
Year Built
2008
Listing Agency:
RE/MAX
Listed By:
Brogan Cunningham · License #3252467
(352) 634-2658
Source:
Remaxcommercial
Added: Jun 3
Changed: Aug 16
Last Checked: Sep 5 at 3:34AM
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 RE/MAX
Investment Insights
Based on property information with market context.
This light industrial warehouse facility offers a large, flexible interior layout designed to support a range of industrial applications, including manufacturing, storage, and distribution. The property is listed at 14,400 square feet and is presented as the lowest price-per-square-foot warehouse facility in the regional market.
Located in Lecanto, Florida, the building is described as being positioned for practical access for transportation and distribution, with proximity to major roadways cited as a convenience for moving goods and serving clients.
Per public records, the property is zoned for light industrial use (X zoning).
Located in Lecanto, Florida, the building is described as being positioned for practical access for transportation and distribution, with proximity to major roadways cited as a convenience for moving goods and serving clients.
Per public records, the property is zoned for light industrial use (X zoning).
Key Highlights
- 14,400 SF industrial/warehouse building in Lecanto, FL
- Built in 2008
- Zoned for light industrial use (X zoning per public records)
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
$104,652
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
8.05%
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%
$2,093,040
$2.1M
Cap Rate 7%
$1,495,029
$1.5M
Cap Rate 9%
$1,162,800
$1.2M
Market Conditions
NOI Build-Up for 14,400 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
$129.6K $9.00/SF
− Vacancy
−$6.5K −$0.45/SF
EGI
$123.1K $8.55/SF
− OpEx
−$18.5K −$1.28/SF
NOI
$104.7K $7.27/SF
Area
Citrus County, FL
Vacancy
5.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$2,093,040
Cap Rate 7%
$1,495,029
Cap Rate 9%
$1,162,800
Alternative Uses
Best Use
Warehouse
$1.50M
$1.31M – $1.74M
NOI $104,652 @ 7.0% cap · market cap 8.05%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.24M
$2.83M – $3.77M
NOI $226,495 @ 7.0% cap · market cap 17.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34461, FL
11,388
Population
5,552
Households
2.1
Avg Household Size
58
Median Age
23%
College-Educated
92%
High-School Grad
45.8 sq mi
ZIP Area
249
Density / Sq Mi
$60,795
Median Household Income
$33,825
Median Earnings
$1,190
Median Rent
$287,200
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Warehouse - Warehouse facility zoned for light industrial use in Lecanto, Florida.
Where is this warehouse located?
The property is located at 3360 West Crigger Court Lecanto, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 14,400 SF industrial/warehouse building in Lecanto, FL; Built in 2008; Zoned for light industrial use (X zoning per public records)
