Building Details

Year Built 1974

Listing Agency: DUNNELLON REAL ESTATE LLC

Listed By: Christopher Hodges · License #3260213 Show Phone

Source: Chenoregroup

Added: May 9 Changed: Oct 11 Last Checked: Oct 7 at 2:03PM

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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 DUNNELLON REAL ESTATE LLC

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Investment Insights

Based on property information with market context.

This retail property package includes two commercial buildings, totaling 4,020 square feet across a 2,520-square-foot building and a 1,500-square-foot building, along with a vacant corner lot at the intersection of Highway 40 and 60th Street. The corner lot comprises two lots and is equipped with septic systems and public water access. Both buildings are described as well-maintained, with recently updated roofs, and are positioned to require minimal preparation to open for business.

The site offers 250 feet of frontage along Highway 40 West and is zoned CN (Commercial Neighborhood). It totals 0.86 acres. The property is located about 10 minutes from Bird Creek Boat Ramp and approximately 5 minutes from Withlacoochee Gulf Preserve, supporting buyer interest in serving visitors and outdoor activity traffic.

Key Highlights

• Commercial package includes two well‑maintained buildings totaling 4,020 SF plus a vacant corner lot.
• Frontage: 250 ft along Highway 40 West in central Yankeetown.
• Land: 0.86 acres zoned CN (Commercial Neighborhood).

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$42,624

Cap Rate

6.82%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$852,480 $852.5K

Cap Rate 7%

$608,914 $608.9K

Cap Rate 9%

$473,600 $473.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,020 SF

Gross rent

$65.1K $16.20/SF

− Vacancy

−$4.2K −$1.05/SF

EGI

$60.9K $15.15/SF

− OpEx

−$18.3K −$4.54/SF

NOI

$42.6K $10.60/SF

Area

Levy County, FL

Vacancy

6.50%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$852,480

Cap Rate 7%

$608,914

Cap Rate 9%

$473,600

Alternative Uses

Best Use

Retail

$608.9K

$532.8K – $710.4K (±1% cap)

NOI $42,624 @ 7.0% cap · market cap 6.82%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$995.7K

$871.2K – $1.16M (±1% cap)

NOI $69,697 @ 7.0% cap · market cap 11.15%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Retail space

Suggested Use

Top Pick Garden Center Bakery Law Firm Real Estate Agency Discount Store Food Market

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Yes

Highway access

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

76

Businesses Nearby

Explore this area Business Placement

Demographics for 34498, FL

588

Population

542

Households

1.1

Avg Household Size

61

Median Age

31%

College-Educated

96%

High-School Grad

7.3 sq mi

ZIP Area

81

Density / Sq Mi

$56,875

Median Household Income

$50,260

Median Earnings

$1,110

Median Rent

$307,800

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Frequently Asked Questions

What type of property is this?

Retail space - Two well-maintained retail buildings plus a vacant corner lot with septic and public water access are included.

Where is this retail space located?

The property is located at 6005 Highway 40 W Yankeetown, FL.

What is the asking price?

The asking price for this property is $625,000.

What are key features of this property?

This property features: Commercial package includes two well‑maintained buildings totaling 4,020 SF plus a vacant corner lot.; Frontage: 250 ft along Highway 40 West in central Yankeetown.; Land: 0.86 acres zoned CN (Commercial Neighborhood).