1029 W MAGNOLIA STREET, Leesburg, FL 34748
- Added:
- Nov 11, 2025
- Days on Market:
- 223
- Last Refresh:
- Jun 22 at 9:06 pm
Property Features for 1029 W MAGNOLIA STREET
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Zoning
- C-2
- Exterior features
- Corner Lot
- Standard status
- Pending
- APN
- 26-19-24-3900-031-00101
- Size
- 2,968 SF
- Lot size
- 0.35 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 5768.93
Utilities
- Heating system
- Central
- Cooling system
- Central Air, Ductless, Multi Units
Building Details
- Year built
- 1977
- Flooring type
- Carpet
- Building materials
- Block, Stone, Stucco
- Roof type
- Metal
- Architectural style
- Other
Listing agent Trish Leisner License #3185853 (352) 267-6216
Listing office REALTEAM REALTY INC. 826 West Desoto Street, Clermont, FL (352) 267-6216
Listing date Nov 11, 2025
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- 1/3‑acre corner lot with 2 sides for parking and 17 parking spaces
- Professional office building with 4 very large offices, reception area, customer waiting room, and kitchen/breakroom
- Includes storage area in front of a very large safe, plus 3 restrooms (one with a shower)
- Tenant in place; lease expires in a few months (July 2026), with potential for owner‑occupant use
- Modified gross lease with current cash flow; CAP rate reported as 7.5
- Updates: repaved lot in 2011, re‑roof and building painted in 2020; central AC 2024 (7.5 Ton Rheem split) and mini‑split in server room
Overview
Set on a corner lot, the property provides parking on two sides and includes 17 parking spaces. The lot was repaved in 2011. Major building updates include re-roof and exterior painting in 2020. The central A/C unit was replaced in 2024 with a 7.5-ton Rheem split system, and there is also a mini-split serving the computer server room.
The property is zoned C-2 and is currently occupied with a tenant in place until the end of 2026, with an owner-occupant timeline noted for readiness in July 2026. It is set up to support an owner-user seeking an established professional office configuration and an operator looking for an income-producing arrangement under a modified gross lease structure.
Local Financial Insights For Office B
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 | $71.2k | $24.00 |
| − Vacancy | −$12.1k | −$4.08 |
| EGI | $59.1k | $19.92 |
| − OpEx | −$14.8k | −$4.98 |
| NOI | $44.3k | $14.94 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Leesburg
- County
- Lake
- State
- Florida
- Longitude
- -81.881641
- Latitude
- 28.810152
