Building Details

Year Built 2018

Listing Agency: GLASBRIDGE LLC

Listed By: Travis Sawchuk · License #3036433 Show Phone

Source: Realtygroupfl

Added: Apr 19 Changed: Oct 19 Last Checked: Oct 19 at 9:02AM

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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

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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.

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 / Yr

$27,133

Cap Rate

3.19%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$542,660 $542.7K

Cap Rate 7%

$387,614 $387.6K

Cap Rate 9%

$301,478 $301.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,000 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $79,680 @ 7.0% cap · market cap 9.37%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Warehouses

Suggested Use

Top Pick Real Estate Agency Garden Center Department Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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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