Mixed-Use Property with Development
405 W Interlake Boulevard, Lake Placid, FL 33852
For Sale
New
$875,000
Commercial, Single Story, Lake Placid, FL
Property Size3,615 SF
Lot Size1.68 Acres
Price / SF$242.05
Days on Market3
Property Features for 405 W Interlake Boulevard
General Information
Property type
Property subtype
Zoning
Security features
Interior features
Exterior features
Directions
Standard status
APN
Size
Lot size
Additional Details
Property Use
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Cooling system
Amenities
conference area
break room
whole-building security
Building Details
Year built
Floors in Building
Flooring type
Building materials
Roof type
Architectural style
Buildings
Listing Agency:
ADVANTAGE REALTY #1
(863) 386-0303
Listed By:
Susan Geitner · License FL #3050844
(863) 273-0145
Added: Nov 11
Changed: Nov 12
Last Checked: Nov 13 at 1:06AM
MLS# 330286
Copyright © 2026 Heartland Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
At 405 W Interlake Boulevard in Lake Placid, this 3,615-square-foot concrete-block property was built in 2001 and is zoned C2. Its interior is arranged for two separate units, with offices, conference and showroom areas, four ADA-compliant restrooms, and a finished break room. Dual entrances, three HVAC units, three electric meters, a metal roof, and carpet and tile flooring are among the building features. The exterior was repainted in 2023, and LED lighting was upgraded in 2021.
The site includes concrete parking areas, asphalt drives, city water, septic, an irrigation well, and a retention pond. Three vacant lots account for approximately 0.62 acre, and a separate lot east of the building measures 62' x 148'. An original site plan showing three additional buildings is available for review. A masonry privacy wall extends approximately 310' along adjoining residential lots.
The site includes concrete parking areas, asphalt drives, city water, septic, an irrigation well, and a retention pond. Three vacant lots account for approximately 0.62 acre, and a separate lot east of the building measures 62' x 148'. An original site plan showing three additional buildings is available for review. A masonry privacy wall extends approximately 310' along adjoining residential lots.
Key Highlights
- 3,615‑square‑foot concrete‑block building, constructed in 2001
- Configured as two units with dual front and rear entrances
- Four ADA‑compliant restrooms; finished break room and plumbing for a second
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,797
Cap Rate
4.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$735,940
$735.9K
Cap Rate 7%
$525,671
$525.7K
Cap Rate 9%
$408,856
$408.9K
Market Conditions
NOI Build-Up for 3,615 SF
Gross rent
$62.9K $17.40/SF
− Vacancy
−$13.8K −$3.83/SF
EGI
$49.1K $13.57/SF
− OpEx
−$12.3K −$3.39/SF
NOI
$36.8K $10.18/SF
Area
Highlands County, FL
Vacancy
22.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$735,940
Cap Rate 7%
$525,671
Cap Rate 9%
$408,856
Alternative Uses
Best Use
Office B
$525.7K
$460.0K – $613.3K
NOI $36,797 @ 7.0% cap · market cap 4.21%
Second Best
Mixed Use
$466.4K
$408.1K – $544.2K
NOI $32,649 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$752.1K
$658.1K – $877.4K
NOI $52,646 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
621
Businesses Nearby
Explore this area
Business Placement
Demographics for 33852, FL
21,635
Population
12,991
Households
1.7
Avg Household Size
55
Median Age
20%
College-Educated
85%
High-School Grad
293.4 sq mi
ZIP Area
74
Density / Sq Mi
$54,841
Median Household Income
$39,658
Median Earnings
$1,063
Median Rent
$205,800
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The building is divided for two occupants and includes offices, showroom areas, and four ADA-compliant restrooms.
Where is this mixed-use property located?
The property is located at 405 W Interlake Boulevard Lake Placid, FL.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 3,615‑square‑foot concrete‑block building, constructed in 2001; Configured as two units with dual front and rear entrances; Four ADA‑compliant restrooms; finished break room and plumbing for a second
