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    5618 Lecanto Hwy Pine Ridge, FL 34465
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    Property profile & analytics

    5618 Lecanto Hwy, Pine Ridge, FL 34465

    View on Map
    • Retirement homes
    • 3,969 SF
    • 0.71 lot acres
    Off-Market
    Property ID
    US18-1491869
    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

    • Retirement homes

    Property Details for 5618 Lecanto Hwy

    Year built
    2003
    Lot size
    0.71 lot acres
    Property type
    Retirement homes
    Property subtype
    Medical Office Space

    Description

    This exceptional mixed-use property in Beverly Hills, Florida, presents a unique investment opportunity. Located at 5618 N Lecanto Hwy, 34465, this single-story, 3,969 square foot building sits on a 0.71-acre lot and boasts 30,998 square feet of air rights. Built in 2003 and renovated in 2023, the property features two units with five bedrooms and eight parking spaces. Currently zoned for mixed use, it's ideally suited for executive, medical, or traditional office space, or even senior living, offering significant flexibility for the owner/user. The asking price is $430,000, and seller financing and lease-option-to-buy are available. The property is situated in a rapidly developing area of Citrus County, experiencing a 2.51% population growth rate, with major commercial developments underway nearby, including the Shoppes at Black Diamond, featuring Target, Texas Roadhouse, Aldi, and Starbucks. This prime location offers significant potential for appreciation and strong rental income. The occupancy date is November 18, 2024. This fee-simple ownership opportunity is also eligible for a 1031 exchange. Don't miss this chance to capitalize on the booming business environment in Citrus County.

    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
    Pine Ridge
    County
    Citrus
    State
    Florida
    Longitude
    -82.445742320355
    Latitude
    28.944937967274

    Comparable in this City

    • $89,900
      Pending

      Equestrian Area Homesite Opportunity

      One-acre corner lot in Pine Ridge's equestrian area.
      5141 N Wayne Dr, Beverly Hills, FL 34465
      View Details
    • $329,995

      Land for Sale

      Land available in Beverly Hills, Florida.
      6630 N Treefarm Ave, Beverly Hills, FL 34465
      View Details
    • $725,000
      6.10 Acres

      Prime Commercial Land on Highway

      6.10 acres of commercial land with highway frontage.
      6075 N Lecanto Hwy, Beverly Hills, FL 34465
      View Details
    • Contact for pricing

      Beverly Hills Commercial Development Land

      1.9+ acre commercial land in Citrus County's growth corridor.
      N Modelwood Dr, Beverly Hills, FL 34465
      View Details
    • $30,000
      0.28 Acres

      Residential Land in Beverly Hills

      Homesite in Beverly Hills, near outdoor recreational opportunities.
      1221 W Buttonbush Dr, Beverly Hills, FL 34465
      View Details
    • $117,499
      Pending

      Beverly Hills Corner Lot

      2.61 acre corner lot suitable for horses.
      2102 N Trample Ter, Beverly Hills, FL 34465
      View Details

    Similar Nearby for Sale

    • $89,900
      Pending

      Equestrian Area Homesite Opportunity

      One-acre corner lot in Pine Ridge's equestrian area.
      5141 N Wayne Dr, Beverly Hills, FL 34465
      View Details
    • $329,995

      Land for Sale

      Land available in Beverly Hills, Florida.
      6630 N Treefarm Ave, Beverly Hills, FL 34465
      View Details
    • $725,000
      6.10 Acres

      Prime Commercial Land on Highway

      6.10 acres of commercial land with highway frontage.
      6075 N Lecanto Hwy, Beverly Hills, FL 34465
      View Details
    • Contact for pricing

      Beverly Hills Commercial Development Land

      1.9+ acre commercial land in Citrus County's growth corridor.
      N Modelwood Dr, Beverly Hills, FL 34465
      View Details
    • $30,000
      0.28 Acres

      Residential Land in Beverly Hills

      Homesite in Beverly Hills, near outdoor recreational opportunities.
      1221 W Buttonbush Dr, Beverly Hills, FL 34465
      View Details
    • $117,499
      Pending

      Beverly Hills Corner Lot

      2.61 acre corner lot suitable for horses.
      2102 N Trample Ter, Beverly Hills, FL 34465
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,500 SF

      Retail Space in Grocery Anchored Plaza

      Retail space available in a high-traffic, grocery-anchored plaza.
      3525-3591 N Lecanto Hwy, Beverly Hills, FL 34465
      View Details
    • $18 SF/Yr

      Grocery Anchored Retail Center Space

      Retail space in grocery-anchored center serving multiple communities.
      3537 N Lecanto Hwy, Beverly Hills, FL 34465
      View Details
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    Pine Ridge, FL 34465
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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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