Lecanto Redevelopment Opportunity For
97 W Gulf to Lake Hwy, Lecanto, FL 34461
21,810 SF building on 2 acres for redevelopment.
Type:Mixed Use, Retail, Senior Living, Special Purpose
Property size:
21,810 SFLot size:
2.00 AcresPrice / SF:
$146/SF- Added:
- Feb 26, 2026
- Days on Market:
- 121
- Last Refresh:
- Mar 17 at 1:17 pm
Property Features for 97 W Gulf to Lake Hwy
General Information
- Standard status
- Active
- Size
- 21,810 SF
- Lot size
- 2.00 Acres
- Property subtype
- Mixed Use, Retail, Senior Living, Special Purpose
Building Details
- Year Built
- 2004
Listing office Century 21 J W Morton Real Estate Inc
Listing date Feb 26, 2026
Source Crexi
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 Century 21 J W Morton Real Estate Inc
HighLights
- Prime adaptive reuse/redevelopment opportunity in the Tampa‑St. Petersburg MSA.
- High‑visibility location with ±330’ frontage on SR‑44 / Gulf to Lake Highway.
- Flexible layout with ±21,810 SF building configurable as single‑tenant or multi‑tenant.
- Robust infrastructure including a 32’ dock‑high truck well and approximately 1,200‑amp three‑phase power.
- General Neighborhood Commercial (GNC) zoning allows for a broad spectrum of uses.
- Located in a growing market with a daytime population exceeding 68,000.
Overview
This property presents an opportunity for acquisition and redevelopment, featuring an approximately 21,810 square foot reinforced concrete block building with a clear-span showroom/warehouse configuration. The interior is divided into three suites: approximately 1,500 square feet of retail space, approximately 2,000 square feet of retail space, and approximately 18,310 square feet of showroom/warehouse space. These suites can operate independently or be combined. The property is situated on approximately 2.00 acres of General Neighborhood Commercial (GNC) zoned land and includes 51 parking spaces. Located along SR-44 / Gulf to Lake Highway, the property has approximately 330 feet of frontage, offering visibility and traffic counts exceeding 25,500 AADT. Access is facilitated by right-in / right-out. A 32-foot-wide dock-high truck well, equipped with an 8’ x 10’ roll-up door and portable dock leveler, supports loading operations. Ceiling heights range from approximately 18 feet in the front showroom area to 15 feet in the rear loading area. The building is supported by approximately 1,200-amp three-phase power with a distributed reduction system. The property is located within the Tampa–St. Petersburg MSA. The building’s design and infrastructure create an opportunity for adaptive reuse or light industrial conversion. It is suited for a regional medical or healthcare campus, medical imaging center, outpatient surgery facility, or specialized wellness services. The clear-span layout, dock-high loading capability, and power capacity support light manufacturing, fabrication, cabinetry and millwork production, equipment assembly, and specialty trade operations. The facility is also suitable for e-commerce fulfillment, regional distribution, and showroom-to-production hybrid users. The property is centrally located within Citrus County, within a 15-minute drive of Inverness, Crystal River, Hernando, and Beverly Hills, providing access to a daytime population exceeding 68,000.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $327.2k | $15.00 |
| − Vacancy | −$27.8k | −$1.28 |
| EGI | $299.3k | $13.73 |
| − OpEx | −$89.8k | −$4.12 |
| NOI | $209.5k | $9.61 |
21,810 SF · lease $15.00/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.99M
$2.62M – $3.49M
NOI $209,540 @ 7.0% cap · market cap 6.55%
Second Best
Mixed Use
$2.92M
$2.55M – $3.40M
NOI $204,264 @ 7.0% cap · market cap 6.38%
Theoretical Best
Specialty Retail
$4.90M
$4.29M – $5.72M
NOI $343,046 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Smart Interiors II ...
Interior Design
Location Insight
- Map
- Local Demand
- City
- Lecanto
- County
- Citrus
- State
- Florida
- Longitude
- -82.4362107
- Latitude
- 28.8572517
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - 21,810 SF building on 2 acres for redevelopment.
Where is this mixed-use property located?
The property is located at 97 W Gulf to Lake Hwy Lecanto, FL.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Prime adaptive reuse/redevelopment opportunity in the Tampa‑St. Petersburg MSA.; High‑visibility location with ±330’ frontage on SR‑44 / Gulf to Lake Highway.; Flexible layout with ±21,810 SF building configurable as single‑tenant or multi‑tenant.
