Flex Space with Roll-Up
New
For Sale
$699,900
113 N 7TH, Leesburg, FL 34748
An open-shell commercial interior has electrical service, partial plumbing, and separate entrances on two streets.
Property Size6,930 SF
Days on Market3
Property Features for 113 N 7TH
General Information
Standard status
Active
Size
6,930 SF
Property subtype
Commercial
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$5,570
Building Details
Building Size
6,930 SF
Year Built
1926
Listing Agency:
Wheatley Realty Group
Listed By:
Alison Wheatley · License #3283817
(352) 396-1653
Source:
Elliman
Added: Oct 23
Last Checked: Oct 24 at 5:34PM
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 Wheatley Realty Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This flex property in downtown Leesburg offers nearly 7,000 square feet in an unfinished shell. A 9-foot roll-up door and double glass entry doors face Orange Avenue, while two single-door entrances and extensive window area are on Seventh Street. The building dates to 1926 and has a new roof, underpinning, and plumbing. Approximately two-thirds of the floor is concrete; the rest remains unfinished. Electrical service is in place, and some plumbing has been installed for a potential bathroom. There is no air conditioning, leaving the interior without an existing HVAC system.
Key Highlights
- Nearly 7,000 square feet of open‑shell flex space
- 9‑foot roll‑up door and double glass entry doors on Orange Avenue
- Two single‑door entrances and abundant windows on Seventh Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,713
Cap Rate
5.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$774,260
$774.3K
Cap Rate 7%
$553,043
$553.0K
Cap Rate 9%
$430,144
$430.1K
Market Conditions
NOI Build-Up for 6,930 SF
Gross rent
$60.7K $8.76/SF
− Vacancy
−$5.4K −$0.78/SF
EGI
$55.3K $7.98/SF
− OpEx
−$16.6K −$2.39/SF
NOI
$38.7K $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%
$774,260
Cap Rate 7%
$553,043
Cap Rate 9%
$430,144
Alternative Uses
Best Use
Retail
$1.17M
$1.02M – $1.37M
NOI $81,992 @ 7.0% cap · market cap 11.71%
Second Best
Industrial
$553.0K
$483.9K – $645.2K
NOI $38,713 @ 7.0% cap · market cap 5.53%
Theoretical Best
Office A
$1.97M
$1.73M – $2.30M
NOI $138,046 @ 7.0% cap · market cap 19.72%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,740
Businesses Nearby
Balanced
Demand for This Use
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- Debra Davis Catering — 1 Dozier Cir, Leesburg, FL 34748
- Debra Davis Catering — 509 E Main St, Leesburg, FL 34748
Frequently Asked Questions
What type of property is this?
Flex space - An open-shell commercial interior has electrical service, partial plumbing, and separate entrances on two streets.
Where is this flex space located?
The property is located at 113 N 7TH Leesburg, FL.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Nearly 7,000 square feet of open‑shell flex space; 9‑foot roll‑up door and double glass entry doors on Orange Avenue; Two single‑door entrances and abundant windows on Seventh Street
