299 Gulf To Lake Hwy Lecanto, FL 34461
- Individual retail properties
- 7,254 SF
- 2.73 lot acres
Current Use by Public Records
- Colon image / Image Consultant
Property Details for 299 Gulf To Lake Hwy
- Year built
- 1978
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 2.73 lot acres
- Property size
- 7,254 SF
- Zone code
- GNC GEN COMMERCIAL
- Property type
- Individual retail properties
- APN
- 18E-19S-01-0010-000D0-006.0
- APU
- 18E19S010010000D00060
Description
This exceptional 7,254-square-foot retail building in Lecanto, Florida, presents a prime commercial opportunity. Located at 299 E Gulf to Lake Hwy, this single-tenant property sits on a 2.73-acre lot with 68 parking spaces and boasts 297 feet of highway frontage on SR 44. Built in 1978, the building features a 3-phase electrical system and is zoned GNC. The property's open floor plan is highly adaptable, suitable for various uses including restaurants, bars, or QSR establishments. Its previous configuration included a ballroom, kitchen with walk-in refrigeration and hood/fire suppression system, cocktail lounge, and meeting hall. Recent upgrades include a new HVAC system and interior lighting. The property benefits from its location between Inverness and Crystal River, offering access to a substantial customer base within a 5-mile radius, including Citrus Hills. With the expansion of the Suncoast Parkway and projected population growth in Citrus County (estimated to reach 350,000 residents by 2030), this property offers significant long-term investment potential. The area's strong consumer spending on dining and healthcare services further enhances its appeal. Its proximity to key facilities like the Citrus County Courthouse and Citrus Memorial Hospital adds to its strategic advantage within the Tampa-St. Petersburg-Clearwater MSA, the 18th largest in the U.S. The property's two points of ingress and egress ensure convenient access for customers and employees. This is a rare opportunity to acquire a well-located, adaptable commercial property in a rapidly growing market. The APN is 18E19S010010 000D0 0060.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $895,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $915,000
- 6.5%
- $890,000
- 7%
- $825,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $960,000
- Geo Method
- $850,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,070,000
- Retail
- $1,110,000
- Mixed-Use
- $875,000
- Hospitality
- $1,045,000
- Educational
- $1,035,000
- Residential Income
- $855,000
- Energy
- $1,125,000
- Income-Based Land
- $870,000
- Food Service
- $890,000
Location Insight
- Map
- Local Demand
- City
- Lecanto
- County
- Citrus
- State
- Florida
- Longitude
- -82.4294
- Latitude
- 28.859
- CBSA code
- 26140
- CBSA name
- HOMOSASSA SPRINGS, FL MICROPOLITAN STATISTICAL AREA
