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    2468 Commercial Way Brooksville, FL 34606

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    For Lease
    Contact for pricing

    High-traffic US-19 Outlot, 0.5 Acres

    Lot size:
    21,780 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    408
    This exceptional 0.5-acre commercial land outlot presents a unique investment opportunity in Spring Hill, Florida. Situated on heavily trafficked US-19 (Commercial Way), this property boasts daily traffic counts exceeding 45,000 vehicles. Its strategic location offers convenient access for both northbound and southbound traffic, with a dedicated left turn lane for southbound access and two right-in access points for northbound traffic. The site benefits from excellent visibility and accessibility, enhanced by its placement near established retail giants including Rural King, Harbor Freight, Big Lots, and Winn-Dixie. This prime location is further complemented by the proximity of other successful businesses such as Long John Silver's/A&W, McDonald's, Red Lobster, Taco Bell, O'Reilly Auto Parts, and Suncoast Credit Union. The property's strategic position between two major shopping centers, Nature Coast Commons (featuring Walmart, JCPenney, Best Buy, and more) and Lakewood Plaza (including Target, Publix, and JOANN), ensures high consumer traffic and visibility. The surrounding area boasts a substantial residential population of approximately 75,000 within a 5-mile radius, with an average household income of approximately $60,000 per year, creating a strong consumer base for any business established on this site. This rare outlot opportunity offers significant potential for a variety of commercial ventures.

    Property Features for 2468 Commercial Way

    General Information

    Property type
    Land
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    21,780 SF

    Unit(s) available at that property

    Space
    0.5-AC Outlot
    Size
    21,780 SF

    We can help!

    Listing Contact
    Alex Justice
    Alex Justice

    Learn more

    HighLights

    • 0.5‑acre commercial land outlot available in Spring Hill, FL.
    • High‑traffic location on US‑19 (45,000 VPD), with excellent ingress/egress.
    • Strong co‑tenancy including Rural King, Harbor Freight, Big Lots, and Winn‑Dixie.
    • Located near major shopping centers (Nature Coast Commons & Lakewood Plaza).
    • Dense population (75,000 within 5 miles) with $60,000 average household income.
    Property Profile Location Intelligence

    Current Use by Public Records

    Minute Key Key Duplication Service Rural King Guns Gun Shop Rural King Tractors Tractor Dealer ATM Atm Rural King Farm Equipment Supplier

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooksville
    County
    Hernando
    State
    Florida
    Longitude
    -82.619015011555
    Latitude
    28.46962705467

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    FAQs

    What type of property is this?
    Land - High-traffic US-19 Outlot, 0.5 Acres
    Where is this land located?
    The property is located at 2468 Commercial Way Brooksville, FL.
    What are key features of this property?
    This property features: 0.5-acre commercial land outlot available in Spring Hill, FL.; High-traffic location on US-19 (45,000 VPD), with excellent ingress/egress.; Strong co-tenancy including Rural King, Harbor Freight, Big Lots, and Winn-Dixie.
    Request Owner's contact information
    2468 Commercial Way Brooksville, FL 34606
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    Brooksville, FL 34606
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2468 Commercial Way Brooksville, FL 34606
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    We can help!
    Listing Contact
    Alex Justice
    Alex Justice
    Real Estate License ID: OH SAL.2016002090
    Learn more
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