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Property profile & analytics
OFF-MARKET
Estimated value
$800,000
Office buildings
505 Gulf To Lk Hwy Lecanto, FL 34461-9392
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-2985499
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1982
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,000 SF
Lot
1.54 ac (67,039 SF)
Zoning code
GNC GEN COMMERCIAL
APN
18E-19S-01-0010-000E0-006.5
UPID
US18-2985499
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Citrus Recycling & Roll-Off Waste Management Facility
-
Bin There Dump That Dumpster Rental Waste Management Facility Hazardous Waste Disposal
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$865k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$800k
Owner & transaction history
Florida Binsness LLC · 3 yrs held
Florida Binsness LLC
since 2023
Last sale
$850,000
1 recorded transaction
Zoning & alternative use
GNC GEN COMMERCIAL · Lecanto, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.1M
+29.6%
Commercial (general)
$835,000
+2.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lecanto submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lecanto submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$935,000
6.5%
$865,000
7%
$800,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$815,000
Current use
MEDICAL BUILDING
$1,055,000
Change: +30% · Conversion: Easy
COMMERCIAL (GENERAL)
$835,000
Change: +3% · Conversion: Easy
RETAIL STORES
$695,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$800k
Range $720k – $880k · ±10% · vs last sale $850k (Jun 6 2023)
Last sale anchor
$850k
Jun 6 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$160 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$5,411
Tax year 2023
Assessed value
$340,380
Assessed 2023
Previous assessed
$316,680
+7.5% YoY
Effective rate
1.59%
On assessed value
Assessed land
$107,430
Assessed improvement
$232,950
Land market value
$107,430
Improvement market value
$232,950
Total market value
$340,380
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1982
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Stories
1
Bathrooms
3
Total area
5,000 SF
Lot
1.54 ac (67,039 SF)
Zoning code
GNC GEN COMMERCIAL
APN
18E-19S-01-0010-000E0-006.5
UPID
US18-2985499
Jurisdiction
CITRUS
Zoning & alternative use
GNC GEN COMMERCIAL · Lecanto, FL
Zoning GNC GEN COMMERCIAL · permitted uses
GNC GEN COMMERCIAL · Lecanto, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lecanto. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$815,000
MEDICAL BUILDING
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$835,000
RETAIL STORES
Est. value
$695,000
OFFICE BUILDING Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1982
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Bathrooms
3
Lot
1.54 ac
Current owner
From public records · entity-resolved
Florida Binsness LLC
Entity
Mailing address
33536 E LK JOANNA DR, EUSTIS, FL 32736-7232
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 6, 2023
$850,000
Florida Binsness LLC
Sandra L Messina
Warranty Deed
$425,000 · United Southern Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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