Strip-Center Storefront
New
For Sale
$199,900
60 Tower St, Lake Placid, FL 33852
Commercial space within an established strip-center setting near U.S. Highway 27.
Property Size1,000 SF
Price / SF$199.90
Days on Market1
Property Features for 60 Tower St
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Other
Additional Details
Highway Access
Yes
Building Details
Building Size
1,000 SF
Year Built
1995
Stories
1
Listing Agency:
The Pipal Group
Listed By:
Alexandra Fragale
(612) 404-8116
Source:
Commercialcafe
Added: Sep 8
Last Checked: Sep 8 at 2:38PM
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 The Pipal Group
Investment Insights
Based on property information with market context.
This approximately 1,000-square-foot storefront building was constructed in 1995 and is positioned within a strip-center environment. The space is described as suitable for professional services, retail, office use, boutique concepts, and personal services, offering a flexible setting for different commercial operations.
The property is located at 60 Tower St in Lake Placid, Florida, just off U.S. Highway 27. Surrounding established businesses and nearby residential growth contribute to an active commercial context, while the site provides access for customers, clients, and employees.
The property is located at 60 Tower St in Lake Placid, Florida, just off U.S. Highway 27. Surrounding established businesses and nearby residential growth contribute to an active commercial context, while the site provides access for customers, clients, and employees.
Key Highlights
- Approximately 1,000 square feet of commercial storefront space
- Constructed in 1995
- Located within a strip‑center setting
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
$9,398
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
4.70%
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%
$187,960
$188.0K
Cap Rate 7%
$134,257
$134.3K
Cap Rate 9%
$104,422
$104.4K
Market Conditions
NOI Build-Up for 1,000 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
$15.0K $15.00/SF
− Vacancy
−$1.6K −$1.58/SF
EGI
$13.4K $13.43/SF
− OpEx
−$4.0K −$4.03/SF
NOI
$9.4K $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%
$187,960
Cap Rate 7%
$134,257
Cap Rate 9%
$104,422
Alternative Uses
Best Use
Retail
$134.3K
$117.5K – $156.6K
NOI $9,398 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$208.0K
$182.0K – $242.7K
NOI $14,563 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
705
Businesses Nearby
224k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 36%
Dining 28%
Groceries 22%
Apparel 7%
Wawa
Shops & Services
39,418 visits/mo
0.1 miles
Publix
Groceries
37,502 visits/mo
0.2 miles
McDonald's
Dining
23,647 visits/mo
0.5 miles
Bealls
Apparel
15,521 visits/mo
0.2 miles
Dunkin' Donuts
Dining
12,425 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.
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercial space within an established strip-center setting near U.S. Highway 27.
Where is this storefront property located?
The property is located at 60 Tower St Lake Placid, FL.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Approximately 1,000 square feet of commercial storefront space; Constructed in 1995; Located within a strip‑center setting
