1904 THOMAS AVENUE, Leesburg, FL 34748
First-class professional office building with established income and value-add opportunity.
- 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
Listing agent SCOTT STREM License #3106245
Listing office MORRIS REALTY AND INVESTMENTS (352) 435-4663
Listing date Apr 16, 2025
Source Corcoran
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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
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 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Leesburg
- County
- Lake
- State
- Florida
- Longitude
- -81.9016
- Latitude
- 28.8383