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    Property profile & analytics

    12435 Cortez Blvd Weeki Wachee, FL 34613-2629

    • Auto shops
    • 1,404 SF
    • 0.90 lot acres
    OFF-MARKET
    Last Sale
    Sep 19, 2023
    $2,250,000
    Value Estimations
    $1,925,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2071235
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • FedEx Drop Box / Mailing Service
    • Take 5 Oil Change / Oil Change Service
    • Law Office of Philips & Raaymakers PLLC / Social Security Attorney / Personal Injury Attorney
    • Jeffrey P Cario Law Office PA: Lea Samuel T / Family Law Attorney
    • Hernando County Law Office / Law Firm

    Property Details for 12435 Cortez Blvd

    Year built
    2022
    Construction
    METAL FRAME
    Lot size
    0.90 lot acres
    Property size
    1,404 SF
    Property type
    Auto shops
    APN
    R29-222-18-1585-0000-0020
    APU
    R2922218158500000020

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Weeki Wachee
    County
    Hernando
    State
    Florida
    Longitude
    -82.5173
    Latitude
    28.5344
    CBSA code
    45300
    CBSA name
    TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $6,583
    $371,866
    $61,617
    $433,483
    -
    $309,406
    $124,077
    $433,483

    Comparable in this City

    • Value Estimation by Request
      2,460 SF

      13363 Cortez Blvd

      AUTO REPAIR, GARAGE • 2,460 SF
      13363 Cortez Blvd, Brooksville, FL 34613-4888
      View Details
    • Value Estimation by Request
      26,250 SF

      12217 Cortez Blvd

      AUTO REPAIR, GARAGE • 26,250 SF
      12217 Cortez Blvd, Brooksville, FL 34613-5652
      View Details
    • Value Estimation by Request
      6,350 SF

      12400 Cortez Blvd

      AUTO REPAIR, GARAGE • 6,350 SF
      12400 Cortez Blvd, Brooksville, FL 34613-2628
      View Details
    • Value Estimation
      $255,000
      1,712 SF

      13379 Chambord St

      AUTO REPAIR, GARAGE • 1,712 SF
      13379 Chambord St, Brooksville, FL 34613-6813
      View Details
    • Value Estimation
      $1,250,000
      6,515 SF

      12161 Cortez Blvd

      AUTO REPAIR, GARAGE • 6,515 SF
      12161 Cortez Blvd, Brooksville, FL 34613-5551
      View Details
    • Value Estimation
      $450,000
      3,200 SF

      13409 Cortez Blvd

      AUTO REPAIR, GARAGE • 3,200 SF
      13409 Cortez Blvd, Brooksville, FL 34613-6823
      View Details

    Similar Nearby for Sale

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      BROOKSVILLE Land on Cortez Boulevard

      1.4 acre C2-zoned lot with high traffic frontage.
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      Community Shopping Center For Sale

      188,347 SF shopping center in major retail corridor.
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      Prime Spring Hill Commercial Land

      High-visibility corner lot, ideal for retail/medical.
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      Prime 1.1-acre lot, ready to build
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      Vacant corner lot in 55+ community, ready for your dream home.
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    Similar Nearby for Lease

    • $20 SF/Yr
      2,640 SF

      Retail Space in Renovated Center

      Retail space available in Brooksville's renovated shopping center.
      31162 Cortez Blvd, Brooksville, FL 34613
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      Retail Space Available Near Cortez

      Available retail spaces near Cortez Blvd and Sunshine Grove Rd.
      7178 Coastal Blvd, Brooksville, FL 34613
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      Retail Space in Spring Hill

      Community shopping center in a major retail corridor.
      13360 Cortez Blvd, Spring Hill, FL 34613
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    • $67,500

      Retail Space in Sonlight Plaza

      Retail spaces available in high-traffic Spring Hill location.
      9260 Cortez Blvd, Spring Hill, FL 34613
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      Retail Space in Western Way

      Retail space available in a busy Brooksville shopping center.
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    • Contact for pricing
      4,152 SF

      Retail Space in Brooksville, FL

      4,152 SF retail space available with strong co-tenants.
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      View Details
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    Weeki Wachee, FL 34613-2629
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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.

    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
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