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    Prime Commercial Land Opportunity Title is generated by Realmo AI

    4128 N Lecanto Hwy, Beverly Hills, FL 34465

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    Developable 1.17-acre commercial lot in a high-growth area.

    Type:Land
    Lot size:
    1.17 Acres
    Added:
    Nov 4, 2024
    Days on Market:
    577
    Last Refresh:
    May 12 at 9:56 pm

    Property Features for 4128 N Lecanto Hwy

    General Information

    Standard status
    Active
    Lot size
    1.17 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Elias George Kirallah

    Listing agent Elias George Kirallah License #BK3123414

    Listing office Century 21 J W Morton Real Estate Inc

    Listing date Nov 4, 2024

    Source Crexi

    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 Century 21 J W Morton Real Estate Inc

    HighLights

    • Prime commercial location in Citrus County's growth corridor with 196' of highway frontage and high traffic volume.
    • Zoned for diverse commercial uses including QSR with drive‑thru, retail, automotive, and medical/professional offices.
    • Part of a thriving development with established businesses like Walgreens, Advance Auto Parts, and Pizza Hut, near major retailers.
    • Cleared and ready for development with access to offsite retention, city water and sewer, and shared signage.
    • Excellent accessibility with multiple points of entry and cross‑access service road connectivity.
    • Located in Citrus County, experiencing rapid population growth and part of the Tampa MSA, a top real estate market.

    Overview

    This 1.17-acre commercial lot is located in Beverly Hills, Florida, within the newly developed Golden Gate. Zoned for a variety of commercial uses, including quick-service restaurants with drive-thru, automotive services, general retail, and medical or professional offices, the site is part of a thriving development alongside established businesses such as Walgreens, Advance Auto Parts, and a new Pizza Hut with drive-thru. The property features over 195 feet of highway frontage on Hwy 491 and convenient access via the signalized intersection at N Modelwood Drive and Hwy 491. Multiple points of entry, including three from CR 491 and two from N Modelwood Drive, provide connectivity to adjacent parcels through a cross-access service road, with both front and rear access to the parcel. The site is 2.8 miles north of the Central Ridge regional shopping district, near major retailers like Walmart, Target, Aldi, Hobby Lobby, Texas Roadhouse, and Panera Bread. The site is cleared and ready for development, with access to offsite retention, city water and sewer lines already in place, and shared signage. Citrus County's Land Development Code allows for approximately a population of 350,000 residencies. The property is located just 15 minutes from a customer base of 46,361 residents with an average age of 58 and a median household income of $65,000, and enjoys proximity to growing populations in Floral City, Lecanto, Crystal River, and Homosassa. Citrus County is projected to experience rapid growth, reaching an estimated population of 350,000 by 2030.
    Property Profile Location Intelligence

    Current Use by Public Records

    Klutch CDL Training Training Center

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Beverly Hills
    County
    Citrus
    State
    Florida
    Longitude
    -82.4645619
    Latitude
    28.9243242

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    FAQs

    What type of property is this?
    Commercial land - Developable 1.17-acre commercial lot in a high-growth area.
    Where is this commercial land located?
    The property is located at 4128 N Lecanto Hwy Beverly Hills, FL.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: Prime commercial location in Citrus County's growth corridor with 196' of highway frontage and high traffic volume.; Zoned for diverse commercial uses including QSR with drive‑thru, retail, automotive, and medical/professional offices.; Part of a thriving development with established businesses like Walgreens, Advance Auto Parts, and Pizza Hut, near major retailers.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Elias George Kirallah
    Real Estate License ID: BK3123414
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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