Prime Retail Space on US
For Sale
$1,950,000
594 US 27 N, Lake Placid, FL 33852
18,000 SF free-standing building in Lake Placid, Florida.
Property Size18,044 SF
Price / SF$108.33
Days on Market167
Property Features for 594 US 27 N
General Information
Standard status
Active
Size
18,044 SF
Property subtype
Retail - Freestanding
Building Details
Building Size
18,044 SF
Year Built
2003
Listing Agency:
Saunders Real Estate
Listed By:
David Lapham · License #SL3597545
(863) 648-1528
Source:
Commercialcafe
Added: Mar 26
Changed: Sep 8
Last Checked: Sep 8 at 7:57AM
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 18,000 SF free-standing building is located in Lake Placid, Florida, and offers prime retail space in a highly desirable location. The property's strategic positioning on U.S Hwy 27 ensures a high level of visibility and foot traffic, making it a sought-after asset for retailers looking to establish or expand their presence in the area. The location provides easy access to U.S Hwy 27, ensuring seamless connectivity and transportation routes. Nearby points of interest, such as Lake June-in-Winter Scrub State Park and Lake Placid Tower, provide serene natural spaces. The area also features an array of dining and retail options, which includes Publix, Bealls, Domino's, Burger King, and Wawa. With modern construction and spacious accommodations, this building is well-suited for a variety of retail uses.
Key Highlights
- 18,000 SF free‑standing building offering prime retail space.
- Highly desirable location in Lake Placid, FL.
- High visibility and foot traffic on U.S. Hwy 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
$169,155
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
8.67%
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%
$3,383,100
$3.4M
Cap Rate 7%
$2,416,500
$2.4M
Cap Rate 9%
$1,879,500
$1.9M
Market Conditions
NOI Build-Up for 18,000 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
$270.0K $15.00/SF
− Vacancy
−$28.4K −$1.58/SF
EGI
$241.7K $13.43/SF
− OpEx
−$72.5K −$4.03/SF
NOI
$169.2K $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%
$3,383,100
Cap Rate 7%
$2,416,500
Cap Rate 9%
$1,879,500
Alternative Uses
Best Use
Retail
$2.42M
$2.11M – $2.82M
NOI $169,155 @ 7.0% cap · market cap 8.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.74M
$3.28M – $4.37M
NOI $262,138 @ 7.0% cap · market cap 13.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
47
Businesses Nearby
6k
Monthly Visits Nearby
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
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Frequently Asked Questions
What type of property is this?
Retail space - 18,000 SF free-standing building in Lake Placid, Florida.
Where is this retail space located?
The property is located at 594 US 27 N Lake Placid, FL.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 18,000 SF free‑standing building offering prime retail space.; Highly desirable location in Lake Placid, FL.; High visibility and foot traffic on U.S. Hwy 27.
