Storefront Retail
New
For Sale
$199,900
60 Tower St, Lake Placid, FL 33852
Commercial Sale, Lake Placid, FL
Property Size1,000 SF
Lot Size0.04 Acres
Price / SF$199.90
Days on Market4
Property Features for 60 Tower St
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Half bathrooms
1
Rooms
Bathroom 1
High school district
000000
Standard status
Active
APN
000000-000.000-0000-000.000
Size
1,000 SF
Lot size
0.04 Acres
Utilities
Heating system
Forced Air, Electric (Heating)
Water source
Public
Building Details
Year built
1995
Floors in Building
1
Building materials
Stucco
Roof type
Asphalt
Listing Agency:
The Pipal Group
(863) 304-3544
Listed By:
Christopher Duncan
(612) 404-8116
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 28 at 9:06PM
MLS# 11950529
Copyright © 2026 My State MLS. 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 approximately 1,000-square-foot commercial building is configured as a storefront within a strip-mall setting. The floor plan can accommodate retail, office, professional service, boutique, and personal service uses. The property includes a bathroom and was built in 1995, with stucco construction, an asphalt roof, forced-air heating, and electric heat.
Positioned just off U.S. Highway 27 in Lake Placid, the property provides access from a commercial setting surrounded by established businesses and nearby residential areas. Public water serves the building, and the 0.04-acre site supports a compact commercial format suited to an owner-user or investor.
Positioned just off U.S. Highway 27 in Lake Placid, the property provides access from a commercial setting surrounded by established businesses and nearby residential areas. Public water serves the building, and the 0.04-acre site supports a compact commercial format suited to an owner-user or investor.
Key Highlights
- Approximately 1,000 square feet of commercial building area
- Strip‑mall storefront setting just off U.S. Highway 27
- 0.04‑acre site in Lake Placid
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
$10,179
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
5.09%
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%
$203,580
$203.6K
Cap Rate 7%
$145,414
$145.4K
Cap Rate 9%
$113,100
$113.1K
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
$17.4K $17.40/SF
− Vacancy
−$3.8K −$3.83/SF
EGI
$13.6K $13.57/SF
− OpEx
−$3.4K −$3.39/SF
NOI
$10.2K $10.18/SF
Area
Highlands County, FL
Vacancy
22.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
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%
$203,580
Cap Rate 7%
$145,414
Cap Rate 9%
$113,100
Alternative Uses
Best Use
Office B
$145.4K
$127.2K – $169.7K
NOI $10,179 @ 7.0% cap · market cap 5.09%
Second Best
Retail
$134.3K
$117.5K – $156.6K
NOI $9,398 @ 7.0% cap · market cap 4.70%
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
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
705
Businesses Nearby
Balanced
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 Office 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 suite in a strip-mall 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 building area; Strip‑mall storefront setting just off U.S. Highway 27; 0.04‑acre site in Lake Placid
