Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    1826 Lecanto Hwy Lecanto, FL 34461

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1826 Lecanto Hwy Lecanto, FL 34461

    View on Map
    • Retail properties & Spaces
    • 55,000 SF
    • 4.71 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 1826 Lecanto Hwy

    Year built
    2024
    Lot size
    4.71 lot acres
    Property size
    55,000 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    Exceptional investment opportunity featuring a brand-new, 55,000 square foot Hobby Lobby store in Lecanto, Florida. This 15-year net lease boasts a corporate guarantee from Hobby Lobby, a financially strong tenant with over 1,000 locations and $7.9 billion in annual revenue (2023). The property, built in 2024, sits on a 4.71-acre lot with 181 parking spaces and enjoys excellent visibility and access, with 41,540 vehicles passing daily. It's shadow-anchored by a Walmart Supercenter and located across from a Target and Aldi-anchored center, benefiting from a strong retail environment. The lease commenced July 15, 2024, and includes rent bumps of $0.50 per square foot every five years during the base term. The property's location is surrounded by thousands of residential homes in established and developing communities, including Black Diamond Ranch, Terra Vista, and Brentwood Farms, ensuring a robust customer base. The area's average household income is $73,295, and future growth is anticipated with the completion of Suncoast Parkway Phase 2 in 2026 and several planned residential developments nearby. The asking price is $4,400,000, representing a 5.00% cap rate and a stabilized net operating income (NOI) of $220,000. The lease includes three, 5-year renewal options. The tenant is responsible for all parcel maintenance, except for the roof and structure, which are landlord responsibilities. This is a rare opportunity to acquire a high-quality, net-leased retail property with a strong tenant and significant growth potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lecanto
    County
    Citrus
    State
    Florida
    Longitude
    -82.4857
    Latitude
    28.8899

    Comparable in this City

    • Value Estimation by Request
      16,289 SF

      1814 Lecanto Hwy

      Individual retail properties • 16,289 SF
      1814 Lecanto Hwy, Lecanto, FL 34461
      View Details
    • Value Estimation
      $4,365,000
      120,196 SF

      1936 Lecanto Hwy

      RETAIL STORES (PERSONAL SERVICES) • 120,196 SF
      1936 Lecanto Hwy, Lecanto, FL 34461-9680
      View Details
    • Value Estimation by Request
      672 SF

      4275 Gulf To Lk Hwy

      RETAIL STORES (PERSONAL SERVICES) • 672 SF
      4275 Gulf To Lk Hwy, Lecanto, FL 34461-9237
      View Details
    • Value Estimation by Request
      950 SF

      2089 Lecanto Hwy

      RETAIL STORES (PERSONAL SERVICES) • 950 SF
      2089 Lecanto Hwy, Lecanto, FL 34461-6100
      View Details
    • Value Estimation
      $1,250,000
      14,400 SF

      3360 Crigger Ct

      RETAIL STORES (PERSONAL SERVICES) • 14,400 SF
      3360 Crigger Ct, Lecanto, FL 34461-7429
      View Details
    • Value Estimation
      $945,000
      960 SF

      1919 Gulf To Lk Hwy

      RETAIL STORES (PERSONAL SERVICES) • 960 SF
      1919 Gulf To Lk Hwy, Lecanto, FL 34461-9217
      View Details

    Similar Nearby for Sale

    • $1,100,000
      2,805 SF

      High-Visibility Lecanto Commercial Property

      Versatile commercial asset in a rapidly evolving growth corridor.
      3030 W Gulf To Lake Hwy, Lecanto, FL 34461
      View Details
    • Contact for pricing
      7,926 SF

      New Texas Roadhouse For Sale

      New 15-year lease with options and rent increases.
      2130 N Lecanto Hwy, Lecanto, FL 34461
      View Details
    • $3,900,000
      37.33 Acres

      Lecanto Multi-Building Acreage Opportunity

      37.33 acres with restaurant, venue, residence, and agricultural potential.
      8123 S Lecanto Hwy, Lecanto, FL 34461
      View Details
    • $1,100,000

      Versatile Commercial Property with Residential Component

      2-acre property zoned for commercial and residential use with multiple buildings.
      3729 S Lecanto Hwy, Lecanto, FL 34461
      View Details
    • Contact for pricing
      21,810 SF

      Lecanto Redevelopment Opportunity For Sale

      21,810 SF building on 2 acres for redevelopment.
      97 W Gulf To Lake Hwy, Lecanto, FL 34461
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,788 SF

      New Retail Space For Lease

      Retail space available for lease, delivery January 2026.
      198 W Norvell Bryant Hwy, Lecanto, FL 34461
      View Details
    • Contact for pricing

      Lecanto Outparcel at Target Center

      Outparcel at Target-anchored center in Lecanto, utilities on-site.
      3159 W Norvell Bryant Hwy, Lecanto, FL 34461
      View Details
    • Contact for pricing

      Land for Lease in Lecanto

      Land available for lease in a planned Lecanto development.
      3440 W Gulf To Lake Hwy, Lecanto, FL 34461
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1826 Lecanto Hwy
    Lecanto, FL 34461
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    1826 Lecanto Hwy, Lecanto, FL, 34461

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!