C1 Retail Building with Highway
For Sale
$1,500,000
417 US 27 Highway S, Lake Placid, FL 33852
COMMERCIAL - Lake Placid, FL
Property Size12,420 SF
Lot Size1.65 Acres
Price / SF$120.77
Days on Market146
Property Features for 417 US 27 Highway S
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C1
Directions
US 27 S to building on East side of the highway south of McDonald's.
Standard status
Active
APN
P-06-37-30-A00-0371-0000
Size
12,420 SF
Lot size
1.65 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
S 303 FT OF W 399 FT OF NW 1/4 OF NE 1/4 OF SEC 6 LESS HWY 27 R/W PER OR 774-PG 379 6-37-30/37.1 1.65 ACRES
Tax Annual Amount
11424
Legal Description
S 303 FT OF W 399 FT OF NW 1/4 OF NE 1/4 OF SEC 6 LESS HWY 27 R/W PER OR 774-PG 379 6-37-30/37.1 1.65 ACRES
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Building Details
Year built
1965
Floors in Building
1
Flooring type
Vinyl, Concrete, Terrazzo
Building materials
Concrete Block
Roof type
Metal
Architectural style
Other
Listing Agency:
Paradise Real Estate International LLC
(863) 272-7540
Listed By:
Debbie McCullough
(863) 441-1319
Added: Mar 20
Changed: Aug 4
Last Checked: Aug 12 at 12:06AM
MLS# 324166
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.
Investment Insights
Based on property information with market context.
This C1 zoned retail property includes a 12,420-square-foot building on a 1.65-acre site. The parcel has approximately 300 feet of frontage along US 27, designed to support easy customer access and strong on-site visibility.
Public remarks indicate the site is surrounded by a dense mix of national retailers within a half-mile, including McDonald’s, Wendy’s, Taco Bell, Dunkin’, Burger King, Wawa, Publix, O’Reilly’s, Advance Auto Parts, and Dollar General. DOT-provided average daily traffic is approximately 21,500 vehicles, and the property is described as having median access accommodating both northbound and southbound travel.
Utilities are listed as central water, with central sewer nearby. The offering is positioned as a centrally located commercial asset in Lake Placid, Florida.
Public remarks indicate the site is surrounded by a dense mix of national retailers within a half-mile, including McDonald’s, Wendy’s, Taco Bell, Dunkin’, Burger King, Wawa, Publix, O’Reilly’s, Advance Auto Parts, and Dollar General. DOT-provided average daily traffic is approximately 21,500 vehicles, and the property is described as having median access accommodating both northbound and southbound travel.
Utilities are listed as central water, with central sewer nearby. The offering is positioned as a centrally located commercial asset in Lake Placid, Florida.
Key Highlights
- 1.65‑acre parcel with 300' frontage along US 27
- 12,420 sq ft building zoned C1, built in 1965
- Approximately 21,500 vehicles average daily traffic (DOT) on US 27
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
$116,717
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
7.78%
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%
$2,334,340
$2.3M
Cap Rate 7%
$1,667,386
$1.7M
Cap Rate 9%
$1,296,856
$1.3M
Market Conditions
NOI Build-Up for 12,420 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
$186.3K $15.00/SF
− Vacancy
−$19.6K −$1.58/SF
EGI
$166.7K $13.43/SF
− OpEx
−$50.0K −$4.03/SF
NOI
$116.7K $9.40/SF
Area
Highlands County, FL
Vacancy
10.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,334,340
Cap Rate 7%
$1,667,386
Cap Rate 9%
$1,296,856
Alternative Uses
Best Use
Retail
$1.67M
$1.46M – $1.95M
NOI $116,717 @ 7.0% cap · market cap 7.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.58M
$2.26M – $3.01M
NOI $180,875 @ 7.0% cap · market cap 12.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
21,500 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
47
Businesses Nearby
6k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
5,907 visits/mo
0.1 miles
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
Market
Vacancy Rate% for Retail 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?
Storefront property - C1 zoned retail building on a highway-frontage site with central water and central sewer nearby.
Where is this storefront property located?
The property is located at 417 US 27 Highway S Lake Placid, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 1.65‑acre parcel with 300' frontage along US 27; 12,420 sq ft building zoned C1, built in 1965; Approximately 21,500 vehicles average daily traffic (DOT) on US 27
