Downtown Eustis Mixed-Use
114 E MAGNOLIA AVENUE Eustis, FL 32726
For Sale
$495,000
Pending
Iconic 3,168 SF mixed-use building in downtown Eustis.
Property Size3,168 SF
Lot Size0.09 Acres
Days on Market856
Property Features for 114 E MAGNOLIA AVENUE
General Information
- Standard status
- Pending
- Size
- 3,168 SF
- Lot size
- 0.09 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1940
Listing Agency:
BHHS FLORIDA REALTY
(352) 729-1364
Listed By:
Kara Wisely · License #3365981
(352) 729-1364
Source:
Exitrealty
Added: Mar 22, 2024
Changed: Jul 6
Last Checked: Jul 25 at 4:31AM
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 BHHS FLORIDA REALTY
Investment Insights
Based on property information with market context.
This 3,168 square foot building is located in downtown Eustis. Situated in an "Opportunity Zone", the building is surrounded by ongoing renovations and improvements to other downtown businesses. The property features high ceilings and an open floor plan. Currently, the building accommodates two businesses. It includes multiple walk-in coolers, a large office space, and storage areas. The property is located in the premier block of downtown.
Key Highlights
- Premier location in the heart of downtown Eustis.
- Large 3,168 sq ft building with high ceilings and open floor plan.
- Located in an "Opportunity Zone".
Financial Insights For Mixed Use
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 | $76.0k | $24.00 |
| − Vacancy | −$9.1k | −$2.88 |
| EGI | $66.9k | $21.12 |
| − OpEx | −$25.1k | −$7.92 |
| NOI | $41.8k | $13.20 |
3,168 SF · lease $24.00/SF/yr · vacancy 12.00% · expense 37.50%
Alternative Uses
Best Use
Office B
$676.1K
$591.6K – $788.8K
NOI $47,330 @ 7.0% cap · market cap 9.56%
Second Best
Mixed Use
$597.4K
$522.7K – $697.0K
NOI $41,818 @ 7.0% cap · market cap 8.45%
Theoretical Best
Office A
$901.5K
$788.8K – $1.05M
NOI $63,107 @ 7.0% cap · market cap 12.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Magnolia Wine Garden
Bar & Pub
Terri's Eustis Flower ...
(Bike/Boat/Book/etc) Store
FAQs
What type of property is this?
Mixed-use property - Iconic 3,168 SF mixed-use building in downtown Eustis.
Where is this mixed-use property located?
The property is located at 114 E MAGNOLIA AVENUE Eustis, FL.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Premier location in the heart of downtown Eustis.; Large 3,168 sq ft building with high ceilings and open floor plan.; Located in an "Opportunity Zone".
