Mixed-Use Property with Horse
For Sale
$1,100,000
3729 S LECANTO Highway, Lecanto, FL 34461
Commercial Sale, LECANTO, FL
Property Size4,812 SF
Lot Size2.00 Acres
Price / SF$228.60
Days on Market485
Property Features for 3729 S LECANTO Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GNC
Window features
Blinds
Appliances
Dishwasher, Dryer, Microwave, Refrigerator, Washer
Lot features
Farm, Retention Pond, Paved, Zoned for Horses
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
Subdivision
34461 - Lecanto
Standard status
Active
APN
18E-19S-21-0000-21330
Size
4,812 SF
Lot size
2.00 Acres
Taxes and HOA fees
Tax Year
2024
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
7561
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
Water source
Public
Building Details
Year built
1930
Number of units
3
Flooring type
Tile - Ceramic, Carpet, Slate
Building materials
Block, Concrete, Stone, Stucco
Roof type
Metal, 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 23
Last Checked: Aug 24 at 3:06AM
MLS# W7874892
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.
This GNC-zoned mixed-use property at 3729 S Lecanto Highway in Lecanto, Florida, spans 2 acres and includes 4,812 square feet of improvements. The site has two concrete-block buildings, including a highway-facing structure with a built-in bathroom and a rear building with a green room. A three-bedroom, 1.5-bath home is also included, creating on-site residential space within the commercial and residential zoning framework. Additional improvements include three horse stalls, pastures, and a 23-space paved parking lot.
The property fronts S Lecanto Highway and is reported to receive exposure from more than 10,000 vehicles daily. It sits across from the College of Central Florida and borders the Withlacoochee State Forest. Public water serves the property, with septic tank sewer service. The buildings date to 1930 and feature central air, heat-pump heating, and a combination of metal and shingle roofing.
The property fronts S Lecanto Highway and is reported to receive exposure from more than 10,000 vehicles daily. It sits across from the College of Central Florida and borders the Withlacoochee State Forest. Public water serves the property, with septic tank sewer service. The buildings date to 1930 and feature central air, heat-pump heating, and a combination of metal and shingle roofing.
Key Highlights
- 2‑acre GNC‑zoned property allowing commercial and residential use
- 4,812 square feet of improvements across 2 buildings
- 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
Yes
Highway access
Yes
Paved road access
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
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?
Mixed-use property - GNC zoning supports combined commercial and residential use across a versatile site with multiple buildings and outdoor improvements.
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 property allowing commercial and residential use; 4,812 square feet of improvements across 2 buildings; 23‑space paved parking lot
