Retail and Storage Facility For
For Sale
$849,900
708 US 27 S, Lake Placid, FL 33852
Retail building with storage units on US 27.
Property Size9,650 SF
Price / SF$182.77
Days on Market146
Property Features for 708 US 27 S
General Information
Standard status
Active
Size
9,650 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$10,097
Building Details
Building Size
9,650 SF
Year Built
1979
Stories
1
Listing Agency:
Advantage Realty
Listed By:
Nancy Newman May, PA · License #3406733
(863) 852-6687
Source:
Elliman
Added: May 19
Changed: Oct 10
Last Checked: Oct 11 at 6:09AM
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 Advantage Realty
Investment Insights
Based on property information with market context.
This commercial property features a 4650 square foot retail building and a storage facility with 30 units. The retail building, located at 708-714 US 27 S, Lake Placid, faces US 27 and can be configured as one large space or divided into four individual storefronts. The storage units are housed in three buildings at the rear of the property, accessible from Wirick Road. These units are secured by a 6-foot-high chain link fence and a locking gate. There is potential for expansion by adding more storage units or RV/boat storage at the back of the property. The property includes 21 parking spaces in the front and additional parking in the rear. The property is located on US 27 and Wirick Rd. The bike score is 44, indicating it is somewhat bikeable, and the walk score is 60, indicating it is somewhat walkable. This facility is suitable for a user or business owner looking to occupy space for their business while leasing the remaining space for additional income, with the potential for increasing property values.
Key Highlights
- Priced at only $150/Sq.Ft (Building with Land), significantly below replacement value for a fast sale.
- Prime commercial property on US 27 with a 4650 SF retail building and a 30‑unit storage facility.
- Income‑generating potential: Lease out retail spaces and storage units.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,698
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$873,960
$874.0K
Cap Rate 7%
$624,257
$624.3K
Cap Rate 9%
$485,533
$485.5K
Market Conditions
NOI Build-Up for 4,650 SF
Gross rent
$69.8K $15.00/SF
− Vacancy
−$7.3K −$1.58/SF
EGI
$62.4K $13.43/SF
− OpEx
−$18.7K −$4.03/SF
NOI
$43.7K $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 Rate 5%
$873,960
Cap Rate 7%
$624,257
Cap Rate 9%
$485,533
Alternative Uses
Best Use
Retail
$624.3K
$546.2K – $728.3K
NOI $43,698 @ 7.0% cap · market cap 5.14%
Second Best
Self Storage
$527.6K
$461.7K – $615.6K
NOI $36,933 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$967.4K
$846.5K – $1.13M
NOI $67,719 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Retail space - Retail building with storage units on US 27.
Where is this retail space located?
The property is located at 708 US 27 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: Priced at only $150/Sq.Ft (Building with Land), significantly below replacement value for a fast sale.; Prime commercial property on US 27 with a 4650 SF retail building and a 30‑unit storage facility.; Income‑generating potential: Lease out retail spaces and storage units.
