Live-Work Property with Retail
For Sale
$1,100,000
3729 S Lecanto Highway, Lecanto, FL 34461
SINGLE_FAMILY - Lecanto, FL
Property Size4,812 SF
Lot Size2.00 Acres
Price / SF$228.60
Days on Market471
Property Features for 3729 S Lecanto Highway
General Information
Property type
Residential
Property subtype
Office
Zoning
GNC
Bedrooms
3
Bathrooms
5
Full bathrooms
2
Half bathrooms
3
Rooms
Bathroom 4, Bedroom 2, Bathroom 1, Bathroom 5, Bathroom 2, Bedroom 1, Bathroom 3, Bedroom 3
Parking
23
Parking features
Parking Lot, Driveway
Interior features
Fireplace, HandicapAccess
Exterior features
Landscaping, Lighting, RainGutters, ConcreteDriveway
Fencing
Fenced
Fireplace
1
Accessibility
Accessible Approach with Ramp
Subdivision
Not on List
Lot features
Cleared, Flat
Elementary school
Lecanto Primary
Middle school
Lecanto Middle
High school
Lecanto High
Directions
From Inverness take State Road Rt 44 West. Turn Left or South on Lecanto Hwy Rt 491. Located directly across from the College of Central Florida
Standard status
Active
APN
1508126
Size
4,812 SF
Lot size
2.00 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
BEG AT A PT 50 FT E OF SW COR OF NE1/4 OF SE1/4 OF SEC 21 TH E 417.42 FT TH N 208.71 FT TH W 417.42 FT TH S 208.71 FT TO POB LESS R/W SR 491 DESC IN OR BK 1913 PG 1721
Tax Annual Amount
7491
Legal Description
BEG AT A PT 50 FT E OF SW COR OF NE1/4 OF SE1/4 OF SEC 21 TH E 417.42 FT TH N 208.71 FT TH W 417.42 FT TH S 208.71 FT TO POB LESS R/W SR 491 DESC IN OR BK 1913 PG 1721
Utilities
Sewer type
Septic Tank
Heating system
Heat Pump (Heating)
Cooling system
Ductless, Central Air
Water source
Public
Building Details
Year built
1930
Floors in Building
1
Flooring type
Carpet, Tile, Slate
Building materials
Block, Concrete, Frame, Stone, Stucco
Roof type
Asphalt, Shingle
Additional Structures
Storage
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
Ruth Squires · License #3355349
(352) 476-3303
Added: Apr 27, 2025
Changed: Aug 1
Last Checked: Aug 10 at 1:06PM
MLS# 843856
Copyright © 2026 REALTORS Association of Citrus County, Inc. 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 live-work property sits on a 2-acre site and includes two solid CBS (concrete block) buildings plus a 3-bedroom, 1.5-bath home. The front building faces the highway and includes a bathroom already built in, making it suitable for retail use. The back building can support a range of operational needs, including storage or workshop use, and it features a fully equipped green room.
A 23-space paved parking lot serves customers, clients, and staff, and the property also includes three horse stalls with pasture areas, accommodating animal-focused uses. The site is fully zoned GNC, allowing both commercial and residential use. Located on a high-traffic highway with 10k+ vehicles passing daily, the property offers visibility and is bordered by the State Forest. It is also directly across from the College of Central Florida.
A 23-space paved parking lot serves customers, clients, and staff, and the property also includes three horse stalls with pasture areas, accommodating animal-focused uses. The site is fully zoned GNC, allowing both commercial and residential use. Located on a high-traffic highway with 10k+ vehicles passing daily, the property offers visibility and is bordered by the State Forest. It is also directly across from the College of Central Florida.
Key Highlights
- 2‑acre site with GNC zoning for both commercial and residential use
- Two CBS (concrete block) buildings ready for retail, office, workshop, or creative use
- 23‑space paved parking lot
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
$50,670
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
4.61%
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%
$1,013,400
$1.0M
Cap Rate 7%
$723,857
$723.9K
Cap Rate 9%
$563,000
$563.0K
Market Conditions
NOI Build-Up for 4,812 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
$86.6K $18.00/SF
− Vacancy
−$19.1K −$3.96/SF
EGI
$67.6K $14.04/SF
− OpEx
−$16.9K −$3.51/SF
NOI
$50.7K $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%
$1,013,400
Cap Rate 7%
$723,857
Cap Rate 9%
$563,000
Alternative Uses
Best Use
Office B
$723.9K
$633.4K – $844.5K
NOI $50,670 @ 7.0% cap · market cap 4.61%
Second Best
Retail
$660.4K
$577.9K – $770.5K
NOI $46,231 @ 7.0% cap · market cap 4.20%
Theoretical Best
Specialty Retail
$1.08M
$946.1K – $1.26M
NOI $75,687 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
121
Businesses Nearby
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 Office 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?
Live-work space - Two CBS buildings, 23-space paved parking, horse stalls, and a 3-bedroom home on a GNC-zoned site.
Where is this live-work space located?
The property is located at 3729 S Lecanto Highway Lecanto, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 2‑acre site with GNC zoning for both commercial and residential use; Two CBS (concrete block) buildings ready for retail, office, workshop, or creative use; 23‑space paved parking lot
