413 Us Hwy Lake Placid, FL 33852
- Retail properties
- 5,758 SF
- 1.02 lot acres
Current Use by Public Records
- Retail properties
Property Details for 413 Us Hwy
- Year built
- 1978
- Lot size
- 1.02 lot acres
- Property size
- 5,758 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 5,758 square foot, single-tenant retail storefront located at 413 US Hwy 27, Lake Placid, FL 33852. The property is 100% occupied by Trulieve, a leading Florida cannabis operator, under a new 10-year absolute NNN lease with two five-year options, ensuring minimal landlord responsibilities. The lease includes annual rent increases of 3%. The building, constructed in 1978 and extensively renovated in 2024, sits on a 1.02-acre lot with ample parking (12 spaces per 1,000 sq ft) and benefits from a prime location on US Highway 27, a major thoroughfare boasting an annual average daily traffic count of 18,700 vehicles. The property's strategic position across from a large Publix-anchored shopping center further enhances its visibility and accessibility. The surrounding area demonstrates strong demographics, with a population of 10,755 residents within a three-mile radius and an average household income of $66,697. The property is zoned C1 - Neighborhood Commercial and offers a stabilized investment with a 6.50% cap rate and a net operating income (NOI) of $116,424. The asking price is $1,791,138, translating to a price per square foot of $311.07. This is a fee-simple ownership opportunity with no ground lease. The property features one building, one story, and is classified as Class C.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lake Placid
- County
- Highlands
- State
- Florida
- Longitude
- -81.3582
- Latitude
- 27.3006
