Waterfront Commercial Opportunity in
For Sale
$1,999,999
4001 Shoal Line Boulevard, Hernando Beach, FL 34607
Multi-use commercial building on 1.75 acres with Gulf views.
Property Size6,040 SF
Lot Size1.75 Acres
Price / SF$331.13
Days on Market138
Property Features for 4001 Shoal Line Boulevard
General Information
Standard status
Active
Size
6,040 SF
Lot size
1.75 Acres
Building Details
Year Built
1986
Listing Agency:
COLDWELL BANKER WEAVER GROUP REALTY
Listed By:
Thomas Dishman · License #3564834
(352) 592-7576
Source:
Livewelltampabay
Added: Apr 24
Changed: Sep 8
Last Checked: Sep 8 at 6:25AM
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 COLDWELL BANKER WEAVER GROUP REALTY
Investment Insights
Based on property information with market context.
This multi-use commercial building offers an exceptional waterfront opportunity in Hernando Beach, Florida. The 6,040± square foot building is situated on approximately 1.75 acres of prime waterfront land, providing unobstructed Gulf views. Located on a high-visibility main roadway, the property benefits from consistent daily traffic and strong year-round appeal to locals, tourists, and boaters. Its position along a well-traveled waterway, where boaters from Hernando Beach South and Middle pass to access the community boat lift, creates steady marine traffic and visibility from the water, offering strong potential for marine-related exposure and future income opportunities. The flexible layout includes office space, warehouse areas, and a former restaurant build-out, along with upper-level living quarters. Fenced and camera-monitored RV and boat storage areas generate income, and tenant space is currently occupied by a golf cart sales and rental operator. Previously operated as a waterfront restaurant with four upstairs office suites, the property offers a variety of repositioning or redevelopment options. Surrounded by marinas, residential neighborhoods, and established coastal attractions, the property enjoys a strategic location with convenient access to US-19, Spring Hill, Weeki Wachee, and the greater Tampa Bay area. The waterfront setting and high marine traffic make this property well-suited for marine-oriented businesses, hospitality concepts, mixed-use development, or multi-tenant commercial use. The property has a bike score of 26, indicating it is somewhat bikeable, and a walk score of 3, indicating car-dependence.
Key Highlights
- Prime 1.75± acre waterfront property with unobstructed Gulf views.
- High‑visibility location on a main roadway, appealing to locals, tourists, and boaters.
- Unique positioning on a well‑traveled waterway ensures steady marine traffic.
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
$75,017
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
3.75%
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%
$1,500,340
$1.5M
Cap Rate 7%
$1,071,671
$1.1M
Cap Rate 9%
$833,522
$833.5K
Market Conditions
NOI Build-Up for 6,040 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
$130.5K $21.60/SF
− Vacancy
−$10.4K −$1.73/SF
EGI
$120.0K $19.87/SF
− OpEx
−$45.0K −$7.45/SF
NOI
$75.0K $12.42/SF
Area
Hernando County, FL
Vacancy
8.00%
Lease Rate
$21.60 /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%
$1,500,340
Cap Rate 7%
$1,071,671
Cap Rate 9%
$833,522
Alternative Uses
Best Use
Mixed Use
$1.07M
$937.7K – $1.25M
NOI $75,017 @ 7.0% cap · market cap 3.75%
Second Best
Industrial
$1.05M
$917.0K – $1.22M
NOI $73,357 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$1.38M
$1.20M – $1.61M
NOI $96,311 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
166
Businesses Nearby
Explore this area
Business Placement
Demographics for 34607, FL
8,544
Population
5,025
Households
1.7
Avg Household Size
58
Median Age
24%
College-Educated
94%
High-School Grad
63.7 sq mi
ZIP Area
134
Density / Sq Mi
$61,221
Median Household Income
$31,126
Median Earnings
$1,226
Median Rent
$343,100
Median Home Value
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 - Multi-use commercial building on 1.75 acres with Gulf views.
Where is this mixed-use property located?
The property is located at 4001 Shoal Line Boulevard Hernando Beach, FL.
What is the asking price?
The asking price for this property is $1,999,999.
What are key features of this property?
This property features: Prime 1.75± acre waterfront property with unobstructed Gulf views.; High‑visibility location on a main roadway, appealing to locals, tourists, and boaters.; Unique positioning on a well‑traveled waterway ensures steady marine traffic.
