Retail Event Center on
524 West Ave Clermont, FL 34711
New
For Sale
$2,500,000
Newly built 2023 retail/event center offering 6,912 sf main building and 47 street parking spaces.
Days on Market4
Property Features for 524 West Ave
General Information
Standard status
Active
Property subtype
Retail
Building Details
Year Built
2023
Listing Agency:
Saunders Real Estate
(352) 267-5900
Listed By:
Marvin Puryear · License #3163836
Source:
Commercialcafe
Added: Jul 27
Changed: Jul 28
Last Checked: Jul 29 at 4:35AM
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
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 For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $158.3k | $18.00 |
| − Vacancy | −$9.7k | −$1.10 |
| EGI | $148.6k | $16.90 |
| − OpEx | −$44.6k | −$5.07 |
| NOI | $104.0k | $11.83 |
8,792 SF · lease $18.00/SF/yr · vacancy 6.10% · expense 30.00%
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.
Property Analytics
Location Intelligence
Current Use
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
