Waterfront Property with Two
For Sale
$560,000
1006 W BURLEIGH, Tavares, FL 32778
Prime waterfront property with two established businesses included.
Property Size1,890 SF
Lot Size14.75 Acres
Days on Market230
Property Features for 1006 W BURLEIGH
General Information
Standard status
Active
Size
1,890 SF
Lot size
14.75 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,912
Building Details
Building Size
1,890 SF
Year Built
1963
Listing Agency:
MORRIS REALTY AND INVESTMENTS
Listed By:
Scott Strem · License #3106245
(352) 978-3428
Source:
Elliman
Added: Mar 11
Changed: Oct 25
Last Checked: Oct 24 at 4:14PM
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
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Investment Insights
Based on property information with market context.
This is a unique opportunity to acquire a prime waterfront property featuring two thriving, turn-key businesses. Included in the sale are an established jet ski/boat rental business and a popular bait and tackle shop, both situated directly on Lake Eustis, the central hub of the Harris Chain of Lakes. The property benefits from its location directly on US HWY 441, which experiences average annual daily traffic counts exceeding 47,000. The locally famous landmark building, with its nautical design, sits directly over the water and currently houses the profitable bait shop, offering boat traffic drive-up service. Constructed in 1963, the building has a history of versatility, having served as a real estate office and a chiropractor's office, highlighting the desirability of the location for various uses. The jet ski/boat rental business benefits from high traffic visibility and includes an inventory of 7 pontoon boats, 4 jet skis, 1 CraigCat, and 9 state-of-the-art floating docks, plus a service lift. All boats, jet skis, FF&E, and inventory are included in the sale. Also included are 13+ acres directly across from the parent parcel on US HWY 441, featuring an income-producing billboard. The owners are willing to stay on for a period of time to orient the new owner to the business operations.
Key Highlights
- Prime Chain of Lakes waterfront property with two established, turn‑key businesses included: jet ski/boat rental and bait & tackle shop.
- All business inventory included in the sale: 7 pontoon boats, 4 jet skis, 1 CraigCat, 9 floating docks, and a service lift.
- High‑traffic location directly on US HWY 441 with AADT exceeding 47,000, providing excellent visibility.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,361
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$447,220
$447.2K
Cap Rate 7%
$319,443
$319.4K
Cap Rate 9%
$248,456
$248.5K
Market Conditions
NOI Build-Up for 1,890 SF
Gross rent
$34.0K $18.00/SF
− Vacancy
−$2.1K −$1.10/SF
EGI
$31.9K $16.90/SF
− OpEx
−$9.6K −$5.07/SF
NOI
$22.4K $11.83/SF
Area
Lake County, FL
Vacancy
6.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$447,220
Cap Rate 7%
$319,443
Cap Rate 9%
$248,456
Alternative Uses
Best Use
Retail
$319.4K
$279.5K – $372.7K
NOI $22,361 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$537.8K
$470.6K – $627.5K
NOI $37,649 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
431
Businesses Nearby
34k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 95%
Electronics 4%
Apparel 1%
Wawa
Shops & Services
32,089 visits/mo
0.2 miles
T-Mobile
Electronics
891 visits/mo
0.4 miles
Boost Mobile
Electronics
365 visits/mo
0.4 miles
DTLR/VILLA
Apparel
362 visits/mo
0.1 miles
Demographics for 32778, FL
23,993
Population
12,720
Households
1.9
Avg Household Size
52
Median Age
25%
College-Educated
88%
High-School Grad
25.4 sq mi
ZIP Area
945
Density / Sq Mi
$61,815
Median Household Income
$40,942
Median Earnings
$1,384
Median Rent
$241,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Storefront property - Prime waterfront property with two established businesses included.
Where is this storefront property located?
The property is located at 1006 W BURLEIGH Tavares, FL.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: Prime Chain of Lakes waterfront property with two established, turn‑key businesses included: jet ski/boat rental and bait & tackle shop.; All business inventory included in the sale: 7 pontoon boats, 4 jet skis, 1 CraigCat, 9 floating docks, and a service lift.; High‑traffic location directly on US HWY 441 with AADT exceeding 47,000, providing excellent visibility.
