Mixed-Use Property with
For Sale
$1,100,000
3729 S Lecanto Highway, Lecanto, FL 34461
CommercialSale, Lecanto, FL
Property Size4,812 SF
Lot Size2.00 Acres
Price / SF$228.60
Days on Market516
Property Features for 3729 S Lecanto Highway
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
GNC
Bedrooms
3
Bathrooms
5
Full bathrooms
2
Half bathrooms
3
Rooms
Bedroom 2, Bedroom 1, Bathroom 5, Bathroom 2, Bathroom 1, Bathroom 3, Bathroom 4, Bedroom 3
Parking
23
Parking features
Driveway, Parking Lot
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
Central Air, Ductless
Water source
Public
Amenities
bathroom
green room
horse stalls
pastures
Building Details
Year built
1930
Floors in Building
1
Flooring type
Tile, Slate, Carpet
Building materials
Block, Concrete, Frame, Stone, Stucco
Roof type
Shingle, Asphalt
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: Sep 16
Last Checked: Sep 24 at 7:06AM
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 2-acre mixed-use property includes 4,812 square feet across two concrete-block buildings and a three-bedroom, 1.5-bath residence. The highway-facing building includes a bathroom and is configured for retail, while the rear building provides space for storage, workshops, or media production with a green room. The site also includes three horse stalls, fenced pastures, a paved parking lot, and a concrete driveway.
Located on S Lecanto Highway across from the College of Central Florida, the property receives exposure to reported traffic of more than 10k vehicles daily. GNC zoning supports both commercial and residential use. Public water and septic service are in place, and the property is bordered by State Forest land.
Located on S Lecanto Highway across from the College of Central Florida, the property receives exposure to reported traffic of more than 10k vehicles daily. GNC zoning supports both commercial and residential use. Public water and septic service are in place, and the property is bordered by State Forest land.
Key Highlights
- 2‑acre GNC‑zoned site supporting commercial and residential use
- 4,812 square feet across two concrete‑block buildings
- 23‑space paved parking lot with concrete driveway
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
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - GNC zoning supports commercial and residential use across a multi-building site.
Where is this mixed-use property 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 GNC‑zoned site supporting commercial and residential use; 4,812 square feet across two concrete‑block buildings; 23‑space paved parking lot with concrete driveway
