Warehouse with Dual Roll-Up
New
For Sale
$169,900
512 S Main Avenue, Lake Placid, FL 33852
COMMERCIAL - Lake Placid, FL
Property Size1,320 SF
Lot Size0.05 Acres
Price / SF$128.71
Days on Market2
Property Features for 512 S Main Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C2
Parking
2
Interior features
High Ceilings (9'+)
Directions
US 27 then West on Interlake Blvd. Left at red light on Main Ave to building on the left. The unit is the middle in a 3 unit building.
Standard status
Active
APN
P-06-37-30-040-0230-0130
Size
1,320 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
2ND SUB HOFFMANS GROVE PB1-PG 96 PORT OF LOTS 12-13-14 BLK 23 PER OR 756-PG 796
Tax Annual Amount
1373
Legal Description
2ND SUB HOFFMANS GROVE PB1-PG 96 PORT OF LOTS 12-13-14 BLK 23 PER OR 756-PG 796
Building Details
Year built
1983
Building materials
Concrete Block
Listing Agency:
Paradise Real Estate International LLC
(863) 272-7540
Listed By:
Debbie McCullough
(863) 441-1319
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 12 at 1:06PM
MLS# 327155
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 1,320-square-foot concrete-block warehouse at 512 S Main Avenue offers an open interior beneath 15.5-foot ceilings. The building includes a half bath, utility sink, and an elevated 4' x 24' storage rack. Access is provided by a 12-foot roll-up door at the front and a 10-foot roll-up door at the rear alley. The 22' x 60' layout accommodates storage, deliveries, and other commercial functions supported by the property’s configuration.
The building is zoned C-2 and sits in downtown Lake Placid along S. Main Avenue, with rear-alley access. Constructed in 1983, it was previously used for golf cart sales and service as well as sign production. The large front opening also accommodates motorhomes, campers, boats, and other recreational vehicles.
The building is zoned C-2 and sits in downtown Lake Placid along S. Main Avenue, with rear-alley access. Constructed in 1983, it was previously used for golf cart sales and service as well as sign production. The large front opening also accommodates motorhomes, campers, boats, and other recreational vehicles.
Key Highlights
- 1,320‑square‑foot warehouse on a 0.05‑acre lot
- 22' x 60' building with 15.5' ceilings
- 12' front roll‑up door and 10' rear roll‑up door
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
$12,405
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
7.30%
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%
$248,100
$248.1K
Cap Rate 7%
$177,214
$177.2K
Cap Rate 9%
$137,833
$137.8K
Market Conditions
NOI Build-Up for 1,320 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
$19.8K $15.00/SF
− Vacancy
−$2.1K −$1.58/SF
EGI
$17.7K $13.43/SF
− OpEx
−$5.3K −$4.03/SF
NOI
$12.4K $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%
$248,100
Cap Rate 7%
$177,214
Cap Rate 9%
$137,833
Alternative Uses
Best Use
Retail
$177.2K
$155.1K – $206.8K
NOI $12,405 @ 7.0% cap · market cap 7.30%
Second Best
Warehouse
$124.5K
$109.0K – $145.3K
NOI $8,716 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$274.6K
$240.3K – $320.4K
NOI $19,223 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15 ft
Clear height
2
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
616
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- T & M Self Storage — 701 Wirick St, Lake Placid, FL 33852
- Ranier Storage, Inc. — 29 Ranier Dr, Lake Placid, FL 33852
- Clarke Self Storage — 309 S Main Ave, Lake Placid, FL 33852
Frequently Asked Questions
What type of property is this?
Warehouse - Concrete-block commercial building with C-2 zoning, overhead storage, and direct access from S. Main Avenue and the rear alley.
Where is this warehouse located?
The property is located at 512 S Main Avenue Lake Placid, FL.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: 1,320‑square‑foot warehouse on a 0.05‑acre lot; 22' x 60' building with 15.5' ceilings; 12' front roll‑up door and 10' rear roll‑up door
