Versatile Commercial Property with
For Sale
$1,100,000
3729 S LECANTO Hwy, Lecanto, FL 34461
2-acre property zoned for commercial and residential use.
Property Size4,812 SF
Lot Size2.00 Acres
Days on Market166
Property Features for 3729 S LECANTO Hwy
General Information
Standard status
Active
Size
4,812 SF
Lot size
2.00 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,561
Building Details
Building Size
4,812 SF
Year Built
1930
Units
3
Listing Agency:
EXP Realty, LLC
(352) 476-3303
Listed By:
Ruth Squires · License #3355349
(352) 476-3303
Source:
Elliman
Added: Mar 10
Changed: Aug 14
Last Checked: Aug 21 at 7:29AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This 2-acre property is zoned GNC for both commercial and residential use. It features two concrete block buildings, a 23-space paved parking lot, three horse stalls, and pastures. A 3-bedroom, 1.5-bath home is also located on the premises. The front building, which faces the highway, is suited for retail use and includes a bathroom. The back building can be used for storage, workshops, or media production, and it features a green room. The property is located on a high-traffic highway with over 10,000 vehicles passing daily and is bordered by the Withlacoochee State Forest. It is located across from the College of Central Florida. The property is suitable for entrepreneurs launching a new brand, franchise owners, pet businesses, vets, trainers, rescues, animal services, content creators, media professionals, coffee shops, fitness centers, and wellness businesses. The property is turnkey for animal and agricultural businesses. It offers easy access to rivers, golf courses, and shops.
Key Highlights
- GNC Zoning allows for both commercial and residential use.
- High‑traffic highway location with over 10,000 vehicles passing daily.
- Includes a 3‑bedroom, 1.5‑bath home suitable for on‑site living.
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
$45,067
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
4.10%
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%
$901,340
$901.3K
Cap Rate 7%
$643,814
$643.8K
Cap Rate 9%
$500,744
$500.7K
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
$78.0K $16.20/SF
− Vacancy
−$5.8K −$1.22/SF
EGI
$72.1K $14.99/SF
− OpEx
−$27.0K −$5.62/SF
NOI
$45.1K $9.37/SF
Area
Citrus County, FL
Vacancy
7.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
37.50%
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%
$901,340
Cap Rate 7%
$643,814
Cap Rate 9%
$500,744
Alternative Uses
Best Use
Mixed Use
$643.8K
$563.3K – $751.1K
NOI $45,067 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
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
Location Intelligence
Trade Area within ½ mile
30
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 2-acre property zoned for commercial and residential use.
Where is this mixed-use property located?
The property is located at 3729 S LECANTO Hwy 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: GNC Zoning allows for both commercial and residential use.; High‑traffic highway location with over 10,000 vehicles passing daily.; Includes a 3‑bedroom, 1.5‑bath home suitable for on‑site living.
