Mixed-Use Building With
For Sale
$475,000
697 ANDERSON ROAD, Groveland, FL 34736
Flexible commercial layout with merchandising improvements, paved parking, and a secured rear yard.
Property Size1,677 SF
Price / SF$283.24
Days on Market10
Property Features for 697 ANDERSON ROAD
General Information
Standard status
Active
Size
1,677 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$3,969
Amenities
Central Air
3
135x150
State Road, Asphalt.
Building Details
Year Built
1987
Listing Agency:
RE/MAX TITANIUM GROUP
(352) 241-6363
Listed By:
Stephen Misciagno · License #639109
Source:
Xome
Added: Aug 22
Changed: Aug 30
Last Checked: Aug 31 at 12:57PM
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 RE/MAX TITANIUM GROUP
Investment Insights
Based on property information with market context.
This mixed-use commercial property includes a 1,677-square-foot building on a .44-acre corner parcel. The interior offers an open layout with slatwall merchandising panels, updated flooring, and multiple electrical outlets. A separate garage and storage area with a roll-up door provides additional functional space for deliveries, workspace, or inventory. The site also includes a fully fenced backyard and paved parking.
Located at 697 E Anderson Road in Groveland, the property fronts Hwy 33 and sits 0.5 miles south of Hwy 50. Dual road access supports convenient ingress and egress, while the corner position provides signage exposure. The building was constructed in 1987 and can accommodate retail, office, showroom, or service-oriented operations.
Located at 697 E Anderson Road in Groveland, the property fronts Hwy 33 and sits 0.5 miles south of Hwy 50. Dual road access supports convenient ingress and egress, while the corner position provides signage exposure. The building was constructed in 1987 and can accommodate retail, office, showroom, or service-oriented operations.
Key Highlights
- 1,677‑square‑foot commercial building on a .44‑acre corner parcel
- Frontage on Hwy 33, 0.5 miles south of Hwy 50
- Open interior with slatwall panels, updated flooring, and multiple electrical outlets
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
$22,136
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
4.66%
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%
$442,720
$442.7K
Cap Rate 7%
$316,229
$316.2K
Cap Rate 9%
$245,956
$246.0K
Market Conditions
NOI Build-Up for 1,677 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
$40.2K $24.00/SF
− Vacancy
−$4.8K −$2.88/SF
EGI
$35.4K $21.12/SF
− OpEx
−$13.3K −$7.92/SF
NOI
$22.1K $13.20/SF
Area
Lake County, FL
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$442,720
Cap Rate 7%
$316,229
Cap Rate 9%
$245,956
Alternative Uses
Best Use
Mixed Use
$316.2K
$276.7K – $368.9K
NOI $22,136 @ 7.0% cap · market cap 4.66%
Second Best
Retail
$283.4K
$248.0K – $330.7K
NOI $19,841 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$477.2K
$417.6K – $556.8K
NOI $33,406 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
224
Businesses Nearby
Explore this area
Business Placement
Demographics for 34736, FL
24,679
Population
10,029
Households
2.5
Avg Household Size
41
Median Age
32%
College-Educated
87%
High-School Grad
115.0 sq mi
ZIP Area
215
Density / Sq Mi
$82,478
Median Household Income
$42,322
Median Earnings
$1,535
Median Rent
$335,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible commercial layout with merchandising improvements, paved parking, and a secured rear yard.
Where is this mixed-use property located?
The property is located at 697 ANDERSON ROAD Groveland, FL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 1,677‑square‑foot commercial building on a .44‑acre corner parcel; Frontage on Hwy 33, 0.5 miles south of Hwy 50; Open interior with slatwall panels, updated flooring, and multiple electrical outlets
