Mixed-Use Land with Income
For Sale
$4,500,000
37150 CHANCEY Road, Zephyrhills, FL 33541
LAND - ZEPHYRHILLS, FL
Property Size17,600 SF
Lot Size12.64 Acres
Price / SF$255.68
Days on Market69
Property Features for 37150 CHANCEY Road
General Information
Property type
Land
Property subtype
Other
Zoning
AR, C2
Directions
From I-75: Take Exit 279 (SR 54) east toward Zephyrhills. Turn left on Allen Road. Proceed north approximately 1 mile to Chancey Road. Property is located on the southeast corner of Allen Road and Chancey Road, with frontage along Chancey Road.
Subdivision
33541 - Zephyrhills
Standard status
Active
APN
21-26-22-000.0-019.00-009.0
Lot size
12.64 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COM AT NW COR OF SW1/4 OF SECTION 22 TH N89DG 57' 44"E 502.76 FT TH S00DG 17' 00"E 25.00 FT TH N89DG 57' 44"E ALG SOUTH RIGHT-OF-WAY LINE OF CHANCEY RD 262.00 FT FOR POB TH CONT N89DG 57' 44"E ALG SAID RIGHT-OF-WAY LINE 260.85 FT TH S01DG 47' 48"E 10.00 FT TH N89DG 57' 44"E 40.00 FT TH S01DG 47' 48"E 311.15 FT TH S89DG 57' 44"W 309.33 FT TH N00DG 17' 00"W 321.05 FT TO POB SUBJECT TO PERPETUAL EASEMENT FOR R/W OVER NORTH 10 FT THEREOF & COM AT NW COR OF SW1/4 OF SECTION 22 TH N89DG 57' 44"E 502.76 FT TH S00DG 17' 00"E 25.00 FT TH N89DG 57' 44"E ALG SOUTH RIGHT-OF-WAY LINE OF CHANCEY RD 522.85 FT FOR POB TH S01DG 47' 48"E 10.00 FT TH N89DG 57' 44"E 40.00 FT TH N01DG 47' 48"W 10.00 FT TH N89DG 57' 44"W 40.00 FT TO POB OR 3707 PG 140
Tax Annual Amount
1335
Legal Description
COM AT NW COR OF SW1/4 OF SECTION 22 TH N89DG 57' 44"E 502.76 FT TH S00DG 17' 00"E 25.00 FT TH N89DG 57' 44"E ALG SOUTH RIGHT-OF-WAY LINE OF CHANCEY RD 262.00 FT FOR POB TH CONT N89DG 57' 44"E ALG SAID RIGHT-OF-WAY LINE 260.85 FT TH S01DG 47' 48"E 10.00 FT TH N89DG 57' 44"E 40.00 FT TH S01DG 47' 48"E 311.15 FT TH S89DG 57' 44"W 309.33 FT TH N00DG 17' 00"W 321.05 FT TO POB SUBJECT TO PERPETUAL EASEMENT FOR R/W OVER NORTH 10 FT THEREOF & COM AT NW COR OF SW1/4 OF SECTION 22 TH N89DG 57' 44"E 502.76 FT TH S00DG 17' 00"E 25.00 FT TH N89DG 57' 44"E ALG SOUTH RIGHT-OF-WAY LINE OF CHANCEY RD 522.85 FT FOR POB TH S01DG 47' 48"E 10.00 FT TH N89DG 57' 44"E 40.00 FT TH N01DG 47' 48"W 10.00 FT TH N89DG 57' 44"W 40.00 FT TO POB OR 3707 PG 140
Utilities
Sewer type
Septic Tank
Water source
Well
Listing Agency:
REAL BROKER, LLC
(855) 450-0442
Listed By:
Bianka Ross · License #3570960
(847) 769-4524
Added: Jun 3
Changed: Aug 4
Last Checked: Aug 10 at 12:06PM
MLS# TB8516857
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.
The Chancey Road Assemblage is a 12.64+/- acre mixed-use parcel in Zephyrhills, offering both A-R (Agricultural Residential) and C-2 (General Commercial) zoning flexibility. The property includes existing residential structures, warehouse space, vacant land, and approximately 17,600 SF of existing building area. It also features in-place income, including a long-term cell tower lease extending through 2049 and an existing gymnastics center tenant providing income through September 2026.
The assemblage offers road frontage and connectivity along Chancey Road with multiple access points. It is located within the East Pasco Economic Development Zone.
With acreage split across A-R and C-2 zoning, the site supports a range of redevelopment directions, including residential, commercial, mixed-use, flex industrial, and storage-related opportunities, subject to applicable approvals.
The assemblage offers road frontage and connectivity along Chancey Road with multiple access points. It is located within the East Pasco Economic Development Zone.
With acreage split across A-R and C-2 zoning, the site supports a range of redevelopment directions, including residential, commercial, mixed-use, flex industrial, and storage-related opportunities, subject to applicable approvals.
Key Highlights
- Approximately 12.64± acres mixed‑use assemblage with A‑R (Agricultural Residential) and C‑2 (General Commercial) zoning for flexible development plans
- Existing improvements include residential structures, warehouse space, vacant land, and about 17,600 SF of existing building area
- Income included: long‑term cell tower lease extending through 2049 with annual rent increases
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
$171,479
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
3.81%
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%
$3,429,580
$3.4M
Cap Rate 7%
$2,449,700
$2.4M
Cap Rate 9%
$1,905,322
$1.9M
Market Conditions
NOI Build-Up for 17,600 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
$220.0K $12.50/SF
− Vacancy
−$18.3K −$1.04/SF
EGI
$201.7K $11.46/SF
− OpEx
−$30.3K −$1.72/SF
NOI
$171.5K $9.74/SF
Area
Pasco County, FL
Vacancy
8.30%
Lease Rate
$12.50 /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%
$3,429,580
Cap Rate 7%
$2,449,700
Cap Rate 9%
$1,905,322
Alternative Uses
Best Use
Warehouse
$2.45M
$2.14M – $2.86M
NOI $171,479 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.01M
$3.51M – $4.68M
NOI $280,643 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33541, FL
22,692
Population
14,159
Households
1.6
Avg Household Size
56
Median Age
19%
College-Educated
90%
High-School Grad
23.8 sq mi
ZIP Area
953
Density / Sq Mi
$55,556
Median Household Income
$38,639
Median Earnings
$1,243
Median Rent
$111,300
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 - 12.64+/- acres zoned AR and C-2 with existing structures and in-place cell tower and gymnastics center tenants.
Where is this warehouse located?
The property is located at 37150 CHANCEY Road Zephyrhills, FL.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Approximately 12.64± acres mixed‑use assemblage with A‑R (Agricultural Residential) and C‑2 (General Commercial) zoning for flexible development plans; Existing improvements include residential structures, warehouse space, vacant land, and about 17,600 SF of existing building area; Income included: long‑term cell tower lease extending through 2049 with annual rent increases
