Entitled Warehouse Development
For Sale
$850,000
00 E County Road 44a, Eustis, FL 32726
Entitled site with two metal warehouses featuring roll-up doors and a site plan allowing up to 14 buildings.
Property Size4,000 SF
Lot Size2.90 Acres
Price / SF$212.50
Days on Market92
Property Features for 00 E County Road 44a
General Information
Standard status
Active
Size
4,000 SF
Lot size
2.90 Acres
Property subtype
Commercial
Building Details
Year Built
2018
Listing Agency:
GLASBRIDGE LLC
Listed By:
Travis Sawchuk · License #3036433
(352) 267-1702
Source:
Realtygroupfl
Added: Jun 5
Changed: Sep 2
Last Checked: Sep 1 at 9:07PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of GLASBRIDGE LLC
Investment Insights
Based on property information with market context.
This entitled development site currently includes two metal warehouses totaling 4,000 square feet, with roll-up doors and single entry doors. The property is supported by an approved site plan and has a fully approved developers agreement in place, with the plan allowing for up to 14 buildings. The current offering contemplates bringing the development through to completion based on the approved site plan.
The development is described as located in an area where over 950 homes and additional retail are planned and being built. The property is also noted to be next to a separate 10-acre parcel for sale that is approved for retail, hospitality, and professional development.
The seller indicates an interest-only private mortgage may be available, with terms and conditions disclosed at the time of offer.
The development is described as located in an area where over 950 homes and additional retail are planned and being built. The property is also noted to be next to a separate 10-acre parcel for sale that is approved for retail, hospitality, and professional development.
The seller indicates an interest-only private mortgage may be available, with terms and conditions disclosed at the time of offer.
Key Highlights
- Entitled development with an approved site plan allowing up to 14 buildings
- Two existing metal warehouses totaling 4,000 SF: 2,500 SF and 1,500 SF
- 2.9‑acre property with roll‑up doors and single entry doors
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,133
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$542,660
$542.7K
Cap Rate 7%
$387,614
$387.6K
Cap Rate 9%
$301,478
$301.5K
Market Conditions
NOI Build-Up for 4,000 SF
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.
Gross rent
$35.0K $8.76/SF
− Vacancy
−$3.1K −$0.78/SF
EGI
$31.9K $7.98/SF
− OpEx
−$4.8K −$1.20/SF
NOI
$27.1K $6.78/SF
Area
Lake County, FL
Vacancy
8.90%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$542,660
Cap Rate 7%
$387,614
Cap Rate 9%
$301,478
Alternative Uses
Best Use
Warehouse
$387.6K
$339.2K – $452.2K
NOI $27,133 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$996.0K – $1.33M
NOI $79,680 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32726, FL
23,012
Population
11,168
Households
2.1
Avg Household Size
45
Median Age
21%
College-Educated
88%
High-School Grad
11.5 sq mi
ZIP Area
2,001
Density / Sq Mi
$60,750
Median Household Income
$37,197
Median Earnings
$1,027
Median Rent
$230,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Warehouse - Entitled site with two metal warehouses featuring roll-up doors and a site plan allowing up to 14 buildings.
Where is this warehouse located?
The property is located at 00 E County Road 44a Eustis, FL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Entitled development with an approved site plan allowing up to 14 buildings; Two existing metal warehouses totaling 4,000 SF: 2,500 SF and 1,500 SF; 2.9‑acre property with roll‑up doors and single entry doors
