Retail and Mini-Storage
For Sale
$849,900
708 Us 27 Highway S, Lake Placid, FL 33852
Commercial, Single Story, Lake Placid, FL
Property Size9,650 SF
Lot Size0.78 Acres
Price / SF$88.07
Days on Market123
Property Features for 708 Us 27 Highway S
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C1
Parking
21
Directions
From US 27 & Interlake Blvd. Go South on US 27, the property will be on the right.
Standard status
Active
APN
P-06-37-30-020-0010-0000
Size
9,650 SF
Lot size
0.78 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
REPLAT OF FLORAL HOMES PB 3-PG 36 N 93.57 FT OF S 568.83 FT OF E 392 FT M/L OF SUB LESS 25 FT SERV RD
Tax Annual Amount
10097
Legal Description
REPLAT OF FLORAL HOMES PB 3-PG 36 N 93.57 FT OF S 568.83 FT OF E 392 FT M/L OF SUB LESS 25 FT SERV RD
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Building Details
Year built
1979
Floors in Building
1
Building materials
Concrete Block
Architectural style
Other
Listing Agency:
ADVANTAGE REALTY #1
(863) 386-0303
Listed By:
Nancy Newman May, PA
(863) 852-6687
Added: Apr 29
Changed: Aug 19
Last Checked: Aug 29 at 6:06PM
MLS# 324885
Copyright © 2026 Heartland Multiple Listing Service, Inc. 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.
The property features four structures totaling 9,650 square feet, including a 4,650 SF retail building facing US 27 with four store fronts. The retail building can be operated as one space or configured into four individual storefront spaces.
Additional structures at the rear provide access from Wirick Rd and include 30 mini storage units. The storage area is enclosed with a 6-foot-high chain link fence and a locking gate. The site includes 21 front parking spaces, with additional parking available in the rear.
The property is zoned C1 and sits on 0.78 acres. Access and configuration support both storefront retail use along US 27 and enclosed storage operation at the rear.
Additional structures at the rear provide access from Wirick Rd and include 30 mini storage units. The storage area is enclosed with a 6-foot-high chain link fence and a locking gate. The site includes 21 front parking spaces, with additional parking available in the rear.
The property is zoned C1 and sits on 0.78 acres. Access and configuration support both storefront retail use along US 27 and enclosed storage operation at the rear.
Key Highlights
- 1979 commercial property with construction of concrete block and central electric HVAC/cooling.
- Front building: 4,650 SF retail building on US 27 with 4 store fronts; can be used as one space or divided into four.
- Back structures: 30 mini storage units with access from Wirick Rd.
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
$76,645
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
9.02%
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%
$1,532,900
$1.5M
Cap Rate 7%
$1,094,929
$1.1M
Cap Rate 9%
$851,611
$851.6K
Market Conditions
NOI Build-Up for 9,650 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
$118.1K $12.24/SF
− Vacancy
−$8.6K −$0.89/SF
EGI
$109.5K $11.35/SF
− OpEx
−$32.8K −$3.40/SF
NOI
$76.6K $7.94/SF
Area
Highlands County, FL
Vacancy
7.30%
Lease Rate
$12.24 /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%
$1,532,900
Cap Rate 7%
$1,094,929
Cap Rate 9%
$851,611
Alternative Uses
Best Use
Retail
$1.30M
$1.13M – $1.51M
NOI $90,686 @ 7.0% cap · market cap 10.67%
Second Best
Self Storage
$1.09M
$958.1K – $1.28M
NOI $76,645 @ 7.0% cap · market cap 9.02%
Theoretical Best
Office A
$2.01M
$1.76M – $2.34M
NOI $140,535 @ 7.0% cap · market cap 16.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
47
Businesses Nearby
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - Retail building with four storefronts and 30 mini storage units secured by a fenced, locking-gate perimeter.
Where is this self storage facility located?
The property is located at 708 Us 27 Highway S Lake Placid, FL.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: 1979 commercial property with construction of concrete block and central electric HVAC/cooling.; Front building: 4,650 SF retail building on US 27 with 4 store fronts; can be used as one space or divided into four.; Back structures: 30 mini storage units with access from Wirick Rd.
