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    The Largest CRE Database in the US with Over 1 Million Listings

    271 Gulf To Lake Hwy Lecanto, FL 34461

    Sponsored
    For Sale
    $287,000

    2.42 Acres, High-Traffic Location, Development Ready

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    408
    This exceptional 2.42-acre commercial property boasts a prime double-corner location on SR 44 (W Gulf to Lake Hwy) in Lecanto, Florida, offering 157 feet of highway frontage and 537 feet on S Highview Avenue. The property enjoys a high traffic count of 26,000 vehicles daily. Zoned GNC, it permits diverse commercial uses, including retail, restaurants (sit-down and drive-thru), and offices. Its strategic location near a retail hub with major stores like Walmart and Lowe's, and within easy reach of several thriving communities (Floral City, Lecanto, Beverly Hills, Crystal River, and Homosassa), ensures strong market access. The property is situated at the entrance to several residential developments, providing access to a substantial population base. A 15-minute drive connects the property to a customer base of 46,361 residents, with a median household income of $65,000 and an average age of 58. Market analysis indicates high consumer spending on dining and healthcare services. Citrus County, where the property is located, is experiencing significant growth, projected to reach 350,000 residents by 2030. This growth is fueled by recent infrastructure improvements, including the Suncoast Parkway expansion and the widening of US 19. The property is within the Citrus County Water and Sewer Territory, though not currently connected to public utilities. Its proximity to US Hwy 41 provides excellent connectivity. The asking price is $287,000. This presents a unique opportunity for significant return on investment in a rapidly developing area within the Tampa-St. Petersburg-Clearwater MSA. The property's zoning allows for a wide array of development possibilities, including single-family homes, attached homes, duplexes, apartments, and various commercial and limited industrial uses, subject to PUD application and approval. The APN is 18E19S010040 00A0.

    Property Features for 271 Gulf To Lake Hwy

    General Information

    Property type
    Farms
    Lot Size
    105,415 SF

    We can help!

    Listing Contact
    elias kiralah
    elias kiralah

    Learn more

    Property Insight Report

    HighLights

    • 2.42‑acre commercial lot in Lecanto, FL, on a double‑corner location with 157' of frontage on SR 44 (W Gulf to Lake Hwy) and 537' on S Highview Avenue.
    • High traffic count of 26,000 vehicles daily, near Walmart and Lowe's, and within reach of several communities.
    • GNC zoning allows for retail, restaurants, and offices; PUD approval may allow for single‑family homes, attached homes, duplexes, apartments, and various commercial/industrial uses.
    • $287,000 asking price; serves a 46,361‑resident customer base with a $65,000 median household income, located within the Tampa‑St. Petersburg‑Clearwater MSA.
    • APN: 18E19S010040 00A0; located in a rapidly growing area with access to Citrus County water and sewer.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Building Supply Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Auto Parts Store Department Store Kitchen & Bath

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

    Location Insight

    • Map
    • Local Demand
    City
    Lecanto
    County
    Citrus
    State
    Florida
    Longitude
    -82.43914
    Latitude
    28.857116

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    FAQs

    What type of property is this?
    Farm - 2.42 Acres, High-Traffic Location, Development Ready
    Where is this farm located?
    The property is located at 271 Gulf To Lake Hwy Lecanto, FL.
    What is the asking price?
    The asking price for this property is $287,000.
    What are key features of this property?
    This property features: 2.42-acre commercial lot in Lecanto, FL, on a double-corner location with 157' of frontage on SR 44 (W Gulf to Lake Hwy) and 537' on S Highview Avenue.; High traffic count of 26,000 vehicles daily, near Walmart and Lowe's, and within reach of several communities.; GNC zoning allows for retail, restaurants, and offices; PUD approval may allow for single-family homes, attached homes, duplexes, apartments, and various commercial/industrial uses.
    Request Owner's contact information
    271 Gulf To Lake Hwy Lecanto, FL 34461
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    Lecanto, FL 34461
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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
    271 Gulf To Lake Hwy Lecanto, FL 34461
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    We can help!
    Listing Contact
    elias kiralah
    elias kiralah
    Real Estate License ID: FL
    Learn more
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