Chiefland Commercial Building with
For Sale
Contact for pricing
7670 115th St, Chiefland, FL 32626
Commercial building with office and warehouse space on corner lot.
Property Size5,300 SF
Lot Size0.75 Acres
Price / SF$75.45
Days on Market1103
Property Features for 7670 115th St
General Information
Standard status
Active
Size
5,300 SF
Lot size
0.75 Acres
Property subtype
Retail, Industrial, Office
Building Details
Year Built
1973
Listing Agency:
Jim King Realty, Inc. Chiefland
(352) 535-5129
Listed By:
Melanie King Hutchison · License #FL
Source:
Crexi
Added: Aug 23, 2023
Changed: Aug 22
Last Checked: Aug 25 at 5:12PM
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 Jim King Realty, Inc. Chiefland
Investment Insights
Based on property information with market context.
This commercial building for sale in Chiefland features 1800 square feet of office space and 3500 square feet of shop/warehouse space, situated on a 0.75-acre corner lot along a heavily traveled county road. The property is zoned C-3, accommodating most commercial uses. The office area includes 5 to 6 office spaces, a file room with a wiring hub, a conference room, a lunchroom, and a bathroom. The building is equipped with fiber optic internet and an Alexa-compatible smart building system. Upgrades include updated insulation, 3-phase electrical with 240 amps for welding, and a pressurized airline in the shop. A large paint booth is included. The shop also features 5 roll-up bay doors. The well works were updated in 2015. The septic system was recently pumped out. This property is one of only two commercially zoned properties along Manatee Springs Road. It is suitable for a variety of business ventures.
Key Highlights
- C‑3 zoning allows for most commercial uses.
- Located on a .75 acre corner lot on heavily traveled County Road.
- Includes 3500 sq ft of shop/warehouse space with 3‑phase electrical (240 amps), pressurized airline, and 5 roll‑up bay doors.
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
$35,950
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
8.99%
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%
$719,000
$719.0K
Cap Rate 7%
$513,571
$513.6K
Cap Rate 9%
$399,444
$399.4K
Market Conditions
NOI Build-Up for 5,300 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
$54.1K $10.20/SF
− Vacancy
−$2.7K −$0.51/SF
EGI
$51.4K $9.69/SF
− OpEx
−$15.4K −$2.91/SF
NOI
$35.9K $6.78/SF
Area
Levy County, FL
Vacancy
5.00%
Lease Rate
$10.20 /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%
$719,000
Cap Rate 7%
$513,571
Cap Rate 9%
$399,444
Alternative Uses
Best Use
Office B
$944.5K
$826.4K – $1.10M
NOI $66,112 @ 7.0% cap · market cap 16.53%
Second Best
Mixed Use
$874.5K
$765.2K – $1.02M
NOI $61,215 @ 7.0% cap · market cap 15.31%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,889 @ 7.0% cap · market cap 22.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 32626, FL
8,620
Population
4,358
Households
2
Avg Household Size
47
Median Age
13%
College-Educated
89%
High-School Grad
243.6 sq mi
ZIP Area
35
Density / Sq Mi
$49,643
Median Household Income
$34,057
Median Earnings
$844
Median Rent
$160,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial building with office and warehouse space on corner lot.
Where is this mixed-use property located?
The property is located at 7670 115th St Chiefland, FL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: C‑3 zoning allows for most commercial uses.; Located on a .75 acre corner lot on heavily traveled County Road.; Includes **3500 sq ft of shop/warehouse space with 3‑phase electrical (240 amps), pressurized airline, and 5 roll‑up bay doors.**
