Clear-Span Showroom/Warehouse
For Sale
Contact for pricing
97 W Gulf To Lake Hwy, Lecanto, FL 34461
Reinforced concrete block building with dock-high loading, 51 parking spaces, and a three-suite showroom/warehouse layout.
Property Size22,810 SF
Lot Size2.00 Acres
Price / SF$134.98
Days on Market15
Property Features for 97 W Gulf To Lake Hwy
General Information
Standard status
Active
Size
22,810 SF
Total Parking Spaces
51
Lot size
2.00 Acres
Property subtype
RETAIL
Zoning
GNC
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
18 ft
Clear Span
Yes
Warehouse Space
18,310 SF
Dock-High Doors
1
Power
1,200 amps
Three-Phase Power
Yes
Building Details
Buildings
1
Building Size
22,810 SF
Construction
reinforced concrete block
Listing Agency:
CENTURY 21 J W Morton Real Estate, Inc.
(352) 400-2635
Listed By:
Elias George Kirallah · License #3123414
(352) 400-2635
Source:
Moodyscre
Added: Jul 23
Changed: Jul 29
Last Checked: Jul 29 at 4:11AM
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.
Investment Insights
Based on property information with market context.
A reinforced concrete block building offering a clear-span showroom/warehouse configuration designed for operational flexibility. The interior is currently arranged into three suites: two retail suites of 1,500 and 2,000 SF and an 18,310 SF showroom/warehouse area, which can function independently or be combined into one contiguous facility.
The property sits on 2.00 acres of General Neighborhood Commercial (GNC) zoned land and includes 51 parking spaces. Located along SR-44 (Gulf to Lake Highway), the site provides approximately 345 feet of high-visibility frontage with strong east-west exposure and traffic counts exceeding 25,500 AADT, supported by right-in/right-out access.
Loading and power are built for distribution and heavier use. A 32-foot-wide dock-high truck well includes an 8' x 10' roll-up door and a portable dock leveler. Ceiling heights range from approximately 18 feet in the front showroom area to 15 feet in the rear loading area, with approximately 1,200-amp three-phase power and a distributed reduction system throughout the structure.
The property sits on 2.00 acres of General Neighborhood Commercial (GNC) zoned land and includes 51 parking spaces. Located along SR-44 (Gulf to Lake Highway), the site provides approximately 345 feet of high-visibility frontage with strong east-west exposure and traffic counts exceeding 25,500 AADT, supported by right-in/right-out access.
Loading and power are built for distribution and heavier use. A 32-foot-wide dock-high truck well includes an 8' x 10' roll-up door and a portable dock leveler. Ceiling heights range from approximately 18 feet in the front showroom area to 15 feet in the rear loading area, with approximately 1,200-amp three-phase power and a distributed reduction system throughout the structure.
Key Highlights
- 22,810 SF reinforced concrete block building with a clear‑span showroom/warehouse layout
- Interior includes 3 suites: 1,500 SF retail, 2,000 SF retail, and 18,310 SF showroom/warehouse
- Can operate independently or combine into one contiguous facility, with suite‑style flexibility
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
$249,971
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
8.49%
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%
$4,999,420
$5.0M
Cap Rate 7%
$3,571,014
$3.6M
Cap Rate 9%
$2,777,456
$2.8M
Market Conditions
NOI Build-Up for 21,810 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
$413.5K $18.96/SF
− Vacancy
−$28.9K −$1.33/SF
EGI
$384.6K $17.63/SF
− OpEx
−$134.6K −$6.17/SF
NOI
$250.0K $11.46/SF
Area
Citrus County, FL
Vacancy
7.00%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
35.00%
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%
$4,999,420
Cap Rate 7%
$3,571,014
Cap Rate 9%
$2,777,456
Alternative Uses
Best Use
Flex RnD
$3.57M
$3.12M – $4.17M
NOI $249,971 @ 7.0% cap · market cap 8.49%
Second Best
Retail
$2.99M
$2.62M – $3.49M
NOI $209,540 @ 7.0% cap · market cap 7.12%
Theoretical Best
Specialty Retail
$4.90M
$4.29M – $5.72M
NOI $343,046 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18 ft
Clear height
1
Dock-high doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
39
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34461, FL
11,388
Population
5,552
Households
2.1
Avg Household Size
58
Median Age
23%
College-Educated
92%
High-School Grad
45.8 sq mi
ZIP Area
249
Density / Sq Mi
$60,795
Median Household Income
$33,825
Median Earnings
$1,190
Median Rent
$287,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Reinforced concrete block building with dock-high loading, 51 parking spaces, and a three-suite showroom/warehouse layout.
Where is this flex space 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 $2,944,000.
What are key features of this property?
This property features: 22,810 SF reinforced concrete block building with a clear‑span showroom/warehouse layout; Interior includes 3 suites: 1,500 SF retail, 2,000 SF retail, and 18,310 SF showroom/warehouse; Can operate independently or combine into one contiguous facility, with suite‑style flexibility
