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    Property profile & analytics

    8061 Cortez Blvd Weeki Wachee, FL 34607-1908

    • Retail space
    • 840 SF
    • 0.26 lot acres
    OFF-MARKET
    Last Sale
    Mar 13, 2023
    $225,000
    Value Estimations
    $150,000
    Show details
    Cap Rate Potential
    5.3%
    Retail space
    Location Intelligence
    Property ID
    US18-2753652
    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.

    Current Use by Public Records

    • Pop Pop Monkeys Peanuts / Fast Food Restaurant
    • Argos Car Wash & Detailing / Car Wash
    • Macawii Shack - Weeki Wachee / Beach Clothing Store
    • J.M. Smith Roofing / Roofing Contractor

    Property Details for 8061 Cortez Blvd

    Year built
    1950
    Construction
    CONCRETE
    Lot size
    0.26 lot acres
    Property size
    840 SF
    Zone code
    C-1
    Property type
    Retail space
    Property subtype
    Storefront properties
    APN
    R34-222-17-4060-00J0-0050
    APU
    R3422217406000J00050

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $155,000
      ML approach
      $195,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $135,000
      6.5%
      $125,000
      7%
      $120,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $104,000
      Market price range: $84.9k - $183k

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

    Location Insight

    • Map
    • Local Demand
    City
    Weeki Wachee
    County
    Hernando
    State
    Florida
    Longitude
    -82.5903
    Latitude
    28.5301
    CBSA code
    45300
    CBSA name
    TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN 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
    2022
    $1,390
    $37,943
    $44,169
    $82,112
    -
    $49,500
    $55,092
    $104,592

    Comparable in this City

    • Value Estimation
      $220,000
      2,960 SF

      4036 Shl Line Blvd

      STORE, RETAIL OUTLET • 2,960 SF
      4036 Shl Line Blvd, Hernando Beach, FL 34607-3359
      View Details
    • Value Estimation
      $185,000
      1,280 SF

      4006 Shl Line Blvd

      STORE, RETAIL OUTLET • 1,280 SF
      4006 Shl Line Blvd, Hernando Beach, FL 34607-3359
      View Details
    • Value Estimation by Request
      2,276 SF

      8033 Cortez Blvd

      STORE, RETAIL OUTLET • 2,276 SF
      8033 Cortez Blvd, Weeki Wachee, FL 34607-1906
      View Details
    • Value Estimation
      $170,000
      6,500 SF

      4984 Calienta St

      STORE, RETAIL OUTLET • 6,500 SF
      4984 Calienta St, Hernando Beach, FL 34607-2909
      View Details
    • Value Estimation
      $160,000
      3,041 SF

      3191 Shl Line Blvd

      STORE, RETAIL OUTLET • 3,041 SF
      3191 Shl Line Blvd, Hernando Beach, FL 34607-3434
      View Details
    • Value Estimation
      $165,000
      3,000 SF

      4169 Shl Line Blvd

      STORE, RETAIL OUTLET • 3,000 SF
      4169 Shl Line Blvd, Hernando Beach, FL 34607-3363
      View Details

    Similar Nearby for Sale

    • $3,500,000
      5,326 SF

      Waterfront Retail Business Opportunity

      Thriving waterfront business with multiple income streams on 0.71 acres.
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    • $2,050,000
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      Waterfront Commercial Opportunity in Hernando

      Multi-use commercial building on 1.75 acres with Gulf views.
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    • $2,100,000
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      Multi-Use Commercial Property For Sale

      High-visibility commercial property with three income-generating businesses on Cortez Boulevard.
      8415 Cortez Blvd, Brooksville, FL 34607
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      Hernando Beach Waterfront Lot

      7,500 sq ft residential lot, Gulf views
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    • $80,000
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      Waterfront Lot in Hernando Beach

      Vacant waterfront lot in Hernando Beach, Florida.
      3520 Jewfish Dr, Hernando Beach, FL 34607
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    • $40,000
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      Resident-Owned Lot in 55+ Park

      Build your ideal home in a friendly, convenient 55+ community.
      Forest Glenn Dr, Spring Hill, FL 34607
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    Similar Nearby for Lease

    • Contact for pricing

      Spring Hill Commercial Space Available

      Commercial space for rent in Spring Hill, Florida.
      Spring Hill, FL 34607
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      1,174 SF

      Retail Space in Spring Hill

      Retail space available in Spring Hill's dominant power center.
      1253-1437 Wendy Ct, Spring Hill, FL 34607
      View Details
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      Commercial Land For Rent

      Commercial land available for rent with frontage on SR 50.
      Cortez Blvd, Brooksville, FL 34607
      View Details
    • Contact for pricing

      Commercial Land on Cortez Boulevard

      Commercial land for lease in Brooksville, Florida, near Suncoast Parkway.
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      Commercial Land in Retail Hub

      Land in Publix-anchored center on a major thoroughfare.
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    • Contact for pricing

      Land for Lease Opportunity

      Located on US 19 & SR 52 in Spring Hill.
      Cortez Blvd, Spring Hill, FL 34607
      View Details
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    Weeki Wachee, FL 34607-1908
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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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