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    2018 N Florida Ave Hernando, FL 34442
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    2018 N Florida Ave, Hernando, FL 34442

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    • Retail space
    • 2,960 SF
    • 0.25 lot acres
    For Sale
    $375,000
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    Commercial Property on Highway 41 For Sale
    $375,000
    2,960 SF

    Commercial Property on Highway 41

    Two commercial properties in high-traffic area, excellent visibility.

    2018 N Florida Avenue, Hernando, FL 34442
    View Listing
    Property ID
    US18-8024467
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Cave Creek Construction Services / Construction Company / General Contractor
    • Geo's Customs LLC / Department Store
    • Nature Coast Restoration / Hardware & Home Improvement / Construction Company

    Property Details for 2018 N Florida Ave

    Year built
    1970
    Construction
    STEEL FRAME
    Lot size
    0.25 lot acres
    Zone code
    GNC GEN COMMERCIAL
    Property type
    Retail space
    APN
    19E-18S-26-2A000-001.0
    APU
    19E18S262A0000010

    Description

    This exceptional commercial property presents a unique investment opportunity in Hernando, Florida. Located on Highway 41, the property boasts 200 feet of frontage, ensuring high visibility and accessibility for any business. The main building, totaling 2,960 square feet, currently houses two thriving businesses: a retail antique store and a sign fabrication/car restoration shop. This versatile structure features six offices/rooms, complete with built-in desks and cabinets, a kitchen area, two bathrooms, and two distinct sales areas. A substantial warehouse/garage area, equipped with three bay doors and an additional office, adds significant functionality. Included in this sale is an adjacent 0.5-acre lot, zoned GNC, offering considerable potential for expansion, additional parking, storage, or the development of another business. The combined properties represent a rare chance to acquire a substantial commercial presence in a high-traffic location for a single purchase price of $445,000. The existing tenants provide immediate income potential, while the versatile layout and additional land offer significant long-term growth opportunities. This is an ideal investment for a savvy business owner or investor seeking a strong return on investment in a prime Hernando location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hernando
    County
    Citrus
    State
    Florida
    Longitude
    -82.3695
    Latitude
    28.892
    CBSA code
    26140
    CBSA name
    HOMOSASSA SPRINGS, FL MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,139
    $28,250
    $93,390
    $121,640
    -
    $28,250
    $93,390
    $121,640

    Comparable in this City

    • Value Estimation by Request
      1,707 SF

      6954 Florida Ave

      RETAIL STORES (PERSONAL SERVICES)
      6954 Florida Ave, Hernando, FL 34442-3501
      View Details
    • Value Estimation by Request
      5,300 SF

      2211 Norvell Bryant Hwy

      RETAIL STORES (PERSONAL SERVICES)
      2211 Norvell Bryant Hwy, Hernando, FL 34442-2970
      View Details
    • Value Estimation by Request
      2,260 SF

      6605 Carl G Rose Hwy

      RETAIL STORES (PERSONAL SERVICES)
      6605 Carl G Rose Hwy, Hernando, FL 34442-2121
      View Details
    • Value Estimation by Request
      3,660 SF

      1703 Florida Ave

      RETAIL STORES (PERSONAL SERVICES)
      1703 Florida Ave, Hernando, FL 34442-4422
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    • Value Estimation by Request
      6,000 SF

      2585 Florida Ave

      RETAIL STORES (PERSONAL SERVICES)
      2585 Florida Ave, Hernando, FL 34442-4329
      View Details
    • Value Estimation by Request
      2,188 SF

      7619 Carl G Rose Hwy

      RETAIL STORES (PERSONAL SERVICES)
      7619 Carl G Rose Hwy, Hernando, FL 34442-2126
      View Details

    Similar Nearby for Sale

    • $285,000
      1,629 SF

      Hernando Retail on State Road

      High-visibility retail property with versatile zoning and strong traffic.
      4655 N Carl G. Rose Hwy, Hernando, FL 34442
      View Details
    • $240,000
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      Hernando Retail Opportunity on SR 200

      Commercial building and vacant lot on high-traffic SR 200.
      7103 N Carl G Rose Hwy, Hernando, FL 34442
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    • $375,000
      0.50 Acres

      Commercial Properties on High-Traffic Area

      Two commercial properties with high visibility and multiple business opportunities.
      2018 N Florida Ave, Hernando, FL 34442
      View Details
    • $850,000
      5.40 Acres

      Lecanto Land with Highway Frontage

      5.4 acre commercial land with highway frontage in Lecanto, FL.
      95 E Gulf-To-Lake Hwy, Lecanto, FL 34442
      View Details
    • $299,900

      7781 N CARL G ROSE Hwy, Hernando, FL 34442

      Automotive properties
      7781 N Carl G Rose Hwy, Hernando, FL 34442
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,400 SF

      Retail Space in Hernando, FL

      Retail property for lease in a high-traffic location.
      2456-2488 N Heritage Oaks Path, Hernando, FL 34442
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease.
      2400-2492 N Heritage Oaks Path, Hernando, FL 34442
      View Details
    • Contact for pricing
      2,400 SF

      Office Space Available For Rent

      Office space available for rent in Hernando, Florida.
      2480 North Heritage Oaks Path, Hernando, FL 34442
      View Details
    View Listing
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    Hernando, FL 34442
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    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
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    2018 N Florida Ave, Hernando, FL, 34442
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