Retail Event Center on
For Sale
$2,500,000
524 West Ave, Clermont, FL 34711
Newly built 2023 retail/event center offering 6,912 sf main building and 47 street parking spaces.
Property Size8,792 SF
Days on Market94
Property Features for 524 West Ave
General Information
Standard status
Active
Size
8,792 SF
Property subtype
Retail
Building Details
Building Size
8,792 SF
Year Built
2023
Units
4
Listing Agency:
Saunders Real Estate
Listed By:
Marvin Puryear · License #3163836
(352) 267-5900
Source:
Commercialcafe
Added: Jul 27
Changed: Oct 26
Last Checked: Oct 28 at 5:02AM
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 Saunders Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 8,792 sf retail/event center includes a 6,912 sf main building constructed in 2023. The property is set up for combined retail and event use, supporting a single-site operation with the existing improvements captured in the current leasable area.
Located on the corner of West Ave and W. Minneola Ave in the Clermont CBD, the property is less than one block from Lake Minneola and the Coast-to-Coast fitness trail. The remarks also note proximity to restaurants, shops, and bars, along with nearby trail amenities and planned trail-related gathering spaces.
On-site parking is described as 47 street parking spaces on the East and South sides of the property, with an additional new city parking lot located about half a block away.
Located on the corner of West Ave and W. Minneola Ave in the Clermont CBD, the property is less than one block from Lake Minneola and the Coast-to-Coast fitness trail. The remarks also note proximity to restaurants, shops, and bars, along with nearby trail amenities and planned trail-related gathering spaces.
On-site parking is described as 47 street parking spaces on the East and South sides of the property, with an additional new city parking lot located about half a block away.
Key Highlights
- New 2023 retail/event center with 8,792 sf total combined leasable space
- 6,912 sf main building constructed in 2023
- Corner location on West Ave and W. Minneola Ave in the Clermont CBD
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$104,022
Cap Rate
4.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,080,440
$2.1M
Cap Rate 7%
$1,486,029
$1.5M
Cap Rate 9%
$1,155,800
$1.2M
Market Conditions
NOI Build-Up for 8,792 SF
Gross rent
$158.3K $18.00/SF
− Vacancy
−$9.7K −$1.10/SF
EGI
$148.6K $16.90/SF
− OpEx
−$44.6K −$5.07/SF
NOI
$104.0K $11.83/SF
Area
Lake County, FL
Vacancy
6.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,080,440
Cap Rate 7%
$1,486,029
Cap Rate 9%
$1,155,800
Alternative Uses
Best Use
Retail
$1.49M
$1.30M – $1.73M
NOI $104,022 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.50M
$2.19M – $2.92M
NOI $175,137 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,092
Businesses Nearby
23k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 67%
Home Improvements & Furnishings 33%
Shell
Shops & Services
11,856 visits/mo
0.4 miles
Hilltop Ace Hardware
Home Improvements & Furnishings
7,646 visits/mo
0.4 miles
Citgo
Shops & Services
3,435 visits/mo
0.3 miles
Demographics for 34711, FL
67,980
Population
28,127
Households
2.4
Avg Household Size
45
Median Age
36%
College-Educated
95%
High-School Grad
39.2 sq mi
ZIP Area
1,734
Density / Sq Mi
$88,474
Median Household Income
$46,456
Median Earnings
$1,817
Median Rent
$369,900
Median Home Value
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - Newly built 2023 retail/event center offering 6,912 sf main building and 47 street parking spaces.
Where is this retail space located?
The property is located at 524 West Ave Clermont, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: New 2023 retail/event center with 8,792 sf total combined leasable space; 6,912 sf main building constructed in 2023; Corner location on West Ave and W. Minneola Ave in the Clermont CBD
