Downtown Leesburg Professional Office
1029 W MAGNOLIA STREET, Leesburg, FL 34748
Office - LEESBURG, FL
Type:Office
Property size:
2,968 SFLot size:
0.35 AcresPrice / SF:
$201/SF- Added:
- Nov 11, 2025
- Days on Market:
- 188
- Last Refresh:
- May 18 at 6:06 am
Property Features for 1029 W MAGNOLIA STREET
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Zoning
- C-2
- Exterior features
- Corner Lot
- Standard status
- Active
- APN
- 26-19-24-3900-031-00101
- Size
- 2,968 SF
- Lot size
- 0.35 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 5768.93
Utilities
- Heating system
- Central
- Cooling system
- Central Air, Ductless, Multi Units
Building Details
- Year built
- 1977
- Flooring type
- Carpet
- Building materials
- Block, Stone, Stucco
- Roof type
- Metal
- Architectural style
- Other
Listing agent Trish Leisner License #3185853 (352) 267-6216
Listing office REALTEAM REALTY INC. 826 West Desoto Street, Clermont, FL (352) 267-6216
Listing date Nov 11, 2025
MLS# G5104665
Listing URL
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Excellent downtown Leesburg location on a corner lot with parking on two sides.
- Ready for owner‑occupant after July 2026 (current lease expiration).
- High cash flow with a 7.5 CAP Rate.
- Multiple large offices (4), reception area, waiting room, kitchen/breakroom, and ample storage.
- Recent updates: Re‑roof and building painted (2020), new Central AC (2024), repaved lot (2011).
- Features 17 parking spaces, 3 restrooms (one with a shower), and a computer server room with mini‑split AC.
Overview
This professional office building is located in downtown Leesburg on a corner lot. The building, situated on 0.35 acres, features multiple large offices, including one previously used as a conference room, a storage room in front of a large safe, and three restrooms, one of which includes a shower. It also includes a kitchen/breakroom, reception office, customer waiting room, and ample storage and closets. There are 17 parking spaces. The lot was repaved in 2011. The building was re-roofed and painted in 2020. A 7.5 Ton Rheem Split System central AC unit was installed in 2024, along with a mini-split in the computer server room. The property is currently occupied by a tenant with a lease expiring at the end of July 2026. The property is located near a local college, restaurants, and shops.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$492.7K
NOI $44,342 @ 9.00% cap · cautious / downside scenario
Moderate
$633.5K
NOI $44,342 @ 7.00% cap · market / base-case scenario
Aggressive
$886.8K
NOI $44,342 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $71.2k | $24.00 |
| − Vacancy | −$12.1k | −$4.08 |
| EGI | $59.1k | $19.92 |
| − OpEx | −$14.8k | −$4.98 |
| NOI | $44.3k | $14.94 |
2,968 SF · lease $24.00/SF/yr · vacancy 17.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$633.5K
$554.3K – $739.0K
NOI $44,342 @ 7.0% cap · market cap 7.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$844.6K
$739.0K – $985.4K
NOI $59,123 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Wells Fargo Advisors
Financial Advisor
Location Insight
- Map
- Local Demand
- City
- Leesburg
- County
- Lake
- State
- Florida
- Longitude
- -81.881641
- Latitude
- 28.810152
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Well-maintained office building in downtown Leesburg with tenant in place.
Where is this office building located?
The property is located at 1029 W MAGNOLIA STREET Leesburg, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Excellent downtown Leesburg location on a corner lot with parking on two sides.; Ready for owner‑occupant after July 2026 (current lease expiration).; High cash flow with a **7.5 CAP Rate**.
