Leesburg Self-Storage Value-Add
For Sale
$2,200,000
Pending
1003 & 1007 WAREHOUSE DRIVE, Leesburg, FL 34748
197-unit self-storage facility with outdoor storage and value-add potential.
Property Size32,689 SF
Days on Market234
Property Features for 1003 & 1007 WAREHOUSE DRIVE
General Information
Standard status
Pending
Size
32,689 SF
Zoning
C-3
Taxes and HOA fees
Annual Taxes
$14,704
Building Details
Building Size
32,689 SF
Year Built
1979
Stories
1
Listing Agency:
GRIZZARD COMMERCIAL REALESTATE
Listed By:
Daniel Tatro · License #3190991
(352) 396-9136
Source:
Evrealestate
Added: Mar 10
Changed: Oct 25
Last Checked: Oct 28 at 8:52AM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$178,760
Cap Rate
8.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,575,200
$3.6M
Cap Rate 7%
$2,553,714
$2.6M
Cap Rate 9%
$1,986,222
$2.0M
Market Conditions
NOI Build-Up for 32,000 SF
Gross rent
$280.3K $8.76/SF
− Vacancy
−$24.9K −$0.78/SF
EGI
$255.4K $7.98/SF
− OpEx
−$76.6K −$2.39/SF
NOI
$178.8K $5.59/SF
Area
Lake County, FL
Vacancy
8.90%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,575,200
Cap Rate 7%
$2,553,714
Cap Rate 9%
$1,986,222
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 authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
656
Businesses Nearby
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Business Placement
Demographics for 34748, FL
45,481
Population
25,740
Households
1.8
Avg Household Size
60
Median Age
24%
College-Educated
90%
High-School Grad
39.4 sq mi
ZIP Area
1,154
Density / Sq Mi
$53,768
Median Household Income
$30,762
Median Earnings
$1,181
Median Rent
$226,200
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
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 DRIVE 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
