Office Building with
For Sale
$1,300,000
3628 Lecanto Highway, Beverly Hills, FL 34465
Standalone commercial office property with paved access, private parking, and a shared driveway arrangement.
Property Size3,882 SF
Price / SF$334.88
Days on Market13
Property Features for 3628 Lecanto Highway
General Information
Standard status
Active
Size
3,882 SF
Total Parking Spaces
33
Property subtype
Office
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$7,327
Amenities
Central Air, Heat Pump
Tile
Asphalt, Shingle
Parking.
Paved Driveway, Lot, Parking Pad, Private, Shared Driveway.
County Road.
Building Details
Year Built
1994
Stories
1
Listing Agency:
Century 21 J.W.Morton R.E.
(352) 228-9632
Listed By:
Wayne Buhler · License #3341008
(352) 228-9632
Source:
Xome
Added: Jul 29
Changed: Aug 9
Last Checked: Aug 10 at 2:50AM
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 Century 21 J.W.Morton R.E.
Investment Insights
Based on property information with market context.
This 3,882-square-foot office building dates to 1994 and includes central air, heat pump service, and tile flooring. The property offers a paved driveway, parking pad, and private parking, with access also provided through a shared driveway with the neighboring commercial property. Animal care facilities are not permitted at this location.
The property is positioned along County Road 491, described as a highly trafficked road, and sits under two miles from the entrance to the Shops at Black Diamond. The address is 3628 Lecanto Highway in Beverly Hills, Florida.
The property is positioned along County Road 491, described as a highly trafficked road, and sits under two miles from the entrance to the Shops at Black Diamond. The address is 3628 Lecanto Highway in Beverly Hills, Florida.
Key Highlights
- 3,882‑square‑foot office building constructed in 1994
- 33 parking spaces with paved driveway and parking pad
- Located on County Road 491, described as a highly trafficked road
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
$40,877
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
3.14%
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%
$817,540
$817.5K
Cap Rate 7%
$583,957
$584.0K
Cap Rate 9%
$454,189
$454.2K
Market Conditions
NOI Build-Up for 3,882 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
$69.9K $18.00/SF
− Vacancy
−$15.4K −$3.96/SF
EGI
$54.5K $14.04/SF
− OpEx
−$13.6K −$3.51/SF
NOI
$40.9K $10.53/SF
Area
Citrus County, FL
Vacancy
22.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$817,540
Cap Rate 7%
$583,957
Cap Rate 9%
$454,189
Alternative Uses
Best Use
Office B
$584.0K
$511.0K – $681.3K
NOI $40,877 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$872.3K
$763.2K – $1.02M
NOI $61,059 @ 7.0% cap · market cap 4.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
447
Businesses Nearby
Explore this area
Business Placement
Demographics for 34465, FL
17,960
Population
9,466
Households
1.9
Avg Household Size
58
Median Age
22%
College-Educated
92%
High-School Grad
24.3 sq mi
ZIP Area
739
Density / Sq Mi
$55,513
Median Household Income
$32,536
Median Earnings
$1,146
Median Rent
$233,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Standalone commercial office property with paved access, private parking, and a shared driveway arrangement.
Where is this office building located?
The property is located at 3628 Lecanto Highway Beverly Hills, 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: 3,882‑square‑foot office building constructed in 1994; 33 parking spaces with paved driveway and parking pad; Located on County Road 491, described as a highly trafficked road
