Leesburg Self-Storage Value-Add
1003 & 1007 WAREHOUSE Dr Leesburg, FL 34748
For Sale
$2,200,000
197-unit self-storage facility with outdoor storage and value-add potential.
Property Size32,000 SF
Price / SF$68.75
Days on Market92
Property Features for 1003 & 1007 WAREHOUSE Dr
General Information
- Standard status
- Active
- Size
- 32,000 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 1979
Listing Agency:
GRIZZARD COMMERCIAL REALESTATE
(352) 396-9136
Listed By:
Daniel Tatro · License #3190991
(352) 396-9136
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 24 at 1:03PM
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 GRIZZARD COMMERCIAL REALESTATE
Investment Insights
Based on property information with market context.
This self-storage facility, known as Flamingo Mini Storage, presents a value-add opportunity. Located in Leesburg and close to The Villages, the property features 197 units and approximately 15 outdoor storage spaces. The facility has never been marketed or advertised, and all current rentals are month-to-month. The buildings comprise approximately 32,000 square feet. The site includes an additional parcel at the entrance, suitable for ample signage, and features a gated entry.
Key Highlights
- Rare value‑add opportunity with month‑to‑month rentals allowing for immediate revenue optimization
- Priced well below replacement cost due to its substantial 32,000 +/- Sq. Ft. building size
- Features 197 self‑storage units plus 15 +/- outdoor storage spaces
Financial Insights For Industrial
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $280.3k | $8.76 |
| − Vacancy | −$24.9k | −$0.78 |
| EGI | $255.4k | $7.98 |
| − OpEx | −$76.6k | −$2.39 |
| NOI | $178.8k | $5.59 |
32,000 SF · lease $8.76/SF/yr · vacancy 8.90% · expense 30.00%
Alternative Uses
Best Use
Self Storage
$4.29M
$3.75M – $5.00M
NOI $299,981 @ 7.0% cap · market cap 13.64%
Second Best
Industrial
$2.55M
$2.23M – $2.98M
NOI $178,760 @ 7.0% cap · market cap 8.13%
Theoretical Best
Office A
$9.11M
$7.97M – $10.62M
NOI $637,440 @ 7.0% cap · market cap 28.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Self storage facilities
FAQs
What type of property is this?
Self storage facility - 197-unit self-storage facility with outdoor storage and value-add potential.
Where is this self storage facility located?
The property is located at 1003 & 1007 WAREHOUSE Dr Leesburg, FL.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Rare value‑add opportunity with month‑to‑month rentals allowing for immediate revenue optimization; Priced well below replacement cost due to its substantial 32,000 +/- Sq. Ft. building size; Features 197 self‑storage units plus 15 +/- outdoor storage spaces
