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    Professional Office Building For Sale Title is generated by Realmo AI

    1904 THOMAS AVENUE, Leesburg, FL 34748

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    For Sale
    $2,900,000

    First-class professional office building with established income and value-add opportunity.

    Type:Commercial
    Property size:
    16,194 SF
    Lot size:
    2.74 Acres
    Price / SF:
    $179/SF
    Added:
    Apr 16, 2025
    Days on Market:
    416
    Last Refresh:
    May 11 at 1:40 am

    Property Features for 1904 THOMAS AVENUE

    General Information

    Standard status
    Active
    Size
    16,194 SF
    Lot size
    2.74 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    2009

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    Listing Contact
    SCOTT STREM

    Listing agent SCOTT STREM License #3106245

    Listing office MORRIS REALTY AND INVESTMENTS

    Listing date Apr 16, 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

    • Established income from tenant‑occupied units with NNN leases, offering immediate ROI.
    • Value‑add opportunity with a 3,000 sq ft mezzanine for potential additional income.
    • Vacant 5,300 sq ft Unit 1 is turnkey ready with a high‑end lobby and flexible layout suitable for various businesses.
    • Prime location in Central Florida with easy access to major highways and proximity to The Villages expansion.
    • Ample parking with 90+ spaces.
    • Building upgrades include new A/Cs, high‑speed data lines, LED lighting, and comprehensive security features.

    Overview

    This 19,278 square foot professional office building offers an outstanding opportunity for investors or owner-users. The building features established income with two of the three units tenant-occupied under NNN leases. A value-add opportunity exists with a 3,000 square foot mezzanine that could be finished and leased for additional income. Upgrades include new A/C units for units 2 and 3, high-speed data lines, LED lighting, a PA system with white noise, and security/fire alarms. The building is fully sprinkled. The vacant Unit 1, comprising approximately 5,300 square feet, features a beautiful entrance and impressive floor-to-ceiling glass lobby, suitable for various uses, including customer service or call centers, healthcare services, institutional purposes, schools, churches, or corporate headquarters. Unit 1 also includes a spacious kitchen/breakroom area and several large rooms for classrooms, conference rooms, or private offices. The property provides ample parking with over 90 spaces and easy access along the main road. Located in the heart of Central Florida, less than an hour from Orlando or Ocala, and minutes from The Villages, I-75, FL Turnpike, and US Hwy 441 and 27. The location is near the future expansion of The Villages along SR 44, less than 5 miles to the west. Over 500 new residential units are under construction across the street. Leesburg has a population of 23,297 residents and attracts more than 50,000 people to work each weekday.

    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 $388.7k $24.00
    − Vacancy −$66.1k −$4.08
    EGI $322.6k $19.92
    − OpEx −$80.6k −$4.98
    NOI $241.9k $14.94
    16,194 SF · lease $24.00/SF/yr · vacancy 17.00% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $3.46M
    $3.02M – $4.03M (±1% cap)
    NOI $241,938 @ 7.0% cap · market cap 8.34%
    Second Best
    Healthcare Medical
    $3.30M
    $2.89M – $3.85M (±1% cap)
    NOI $230,862 @ 7.0% cap · market cap 7.96%
    Theoretical Best
    Office A
    $4.61M
    $4.03M – $5.38M (±1% cap)
    NOI $322,584 @ 7.0% cap · market cap 11.12%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Trial AI Corporate Office SocialGainsAgency Association / Organization AMAC Action Association Or Organization

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Leesburg
    County
    Lake
    State
    Florida
    Longitude
    -81.9016
    Latitude
    28.8383

    FAQs

    What type of property is this?
    Office building - First-class professional office building with established income and value-add opportunity.
    Where is this office building located?
    The property is located at 1904 THOMAS AVENUE Leesburg, FL.
    What is the asking price?
    The asking price for this property is $2,900,000.
    What are key features of this property?
    This property features: Established income from tenant‑occupied units with NNN leases, offering immediate ROI.; Value‑add opportunity with a 3,000 sq ft mezzanine for potential additional income.; **Vacant 5,300 sq ft Unit 1 is turnkey ready with a high‑end lobby and flexible layout suitable for various businesses.**
    More about this property
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