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    Waterfront Property with Two Businesses Title is generated by Realmo AI

    1006 W BURLEIGH BOULEVARD, Tavares, FL 32778

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    For Sale
    $799,900

    Prime waterfront property with two thriving businesses on Chain of Lakes.

    Type:Commercial
    Property size:
    1,890 SF
    Lot size:
    14.75 Acres
    Price / SF:
    $423/SF
    Added:
    Oct 25, 2025
    Days on Market:
    224
    Last Refresh:
    May 10 at 9:04 pm

    Property Features for 1006 W BURLEIGH BOULEVARD

    General Information

    Standard status
    Active
    Size
    1,890 SF
    Lot size
    14.75 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1963

    We can help!

    Listing Contact
    SCOTT STREM

    Listing agent SCOTT STREM License #3106245

    Listing office MORRIS REALTY AND INVESTMENTS

    Listing date Oct 25, 2025

    Source Corcoran

    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 MORRIS REALTY AND INVESTMENTS

    HighLights

    • Prime Chain of Lakes waterfront property on Lake Eustis.
    • Includes two established, turn‑key businesses: a jet ski/boat rental and a bait and tackle shop.
    • All boats, jet skis, furniture, fixtures, equipment, and inventory are included in the sale.
    • Located directly on US HWY 441 with high traffic counts (47,000+ AADT).
    • Includes 13+ acres across from the main parcel with an income‑producing billboard.
    • Established landmark building with versatile history and boat traffic drive‑up service.

    Overview

    This is a unique opportunity to acquire a prime waterfront property featuring two established businesses: a jet ski/boat rental and a bait and tackle shop. The property is located on Lake Eustis, the central hub of the Harris Chain of Lakes, and directly on US HWY 441, which sees over 47,000 vehicles per day. The landmark nautical-design building, currently a profitable bait shop with boat drive-up service, has a history of versatility, previously serving as a real estate office and chiropractor's office since its construction in 1963. The sale includes the jet ski/boat rental business, complete with its inventory of 7 pontoon boats, 4 jet skis, 1 CraigCat, 9 floating docks, and a service lift. All boats, jet skis, furniture, fixtures, and equipment are included in the sale. Also included are 13+ acres directly across from the parent parcel on US HWY 441, which features an income-producing billboard. The property size is 1890 square feet. The owners are willing to assist in the transition to new ownership.
    Property Profile Location Intelligence

    Current Use by Public Records

    Marinas

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tavares
    County
    Lake
    State
    Florida
    Longitude
    -81.7376
    Latitude
    28.8108

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    FAQs

    What type of property is this?
    Marina - Prime waterfront property with two thriving businesses on Chain of Lakes.
    Where is this marina located?
    The property is located at 1006 W BURLEIGH BOULEVARD Tavares, FL.
    What is the asking price?
    The asking price for this property is $799,900.
    What are key features of this property?
    This property features: Prime Chain of Lakes waterfront property on Lake Eustis.; Includes two established, turn‑key businesses: a jet ski/boat rental and a bait and tackle shop.; All boats, jet skis, furniture, fixtures, equipment, and inventory are included in the sale.
    (352) 435-4663
    We can help!
    Listing Contact
    SCOTT STREM
    Real Estate License ID: 3106245
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    1006 W BURLEIGH BOULEVARD, TAVARES, FL 32778
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