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    801 N Bay St Eustis, FL 32726

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    For Sale
    $840,000

    Medical office space in Eustis Central Business District.

    Property size:
    3,158 SF
    Lot size:
    0.53 Acres

    Property Features for 801 N Bay St

    General Information

    Standard status
    Active
    Size
    3,158 SF
    Lot size
    0.53 Acres

    Building Details

    Year built
    1982

    We can help!

    Listing Contact
    Trish Leisner
    Source: Exitrealty

    Listing Agency: REALTEAM REALTY INC. Listing Agent: Trish Leisner

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Medical Office on US Hwy 19

    This medical professional office is situated directly on S US Hwy 19 (Bay Street) & E. Wilt Avenue, within the Eustis Central Business District. The property occupies a half-acre lot and includes 21 parking spaces. Constructed in 1982, the building underwent a major renovation in 2004, with further updates including a new roof in 2024 and AC units in 2023. The interior was remodeled in 2022, including flooring, interior and exterior painting. The 3,158 square foot building features a shared reception and front work area, with the back offices divided into two somewhat identical sides. The layout is designed to allow for the use of one side while leasing out the other. Owner parking is located behind the building, and each unit has two separate metal doors for access and a security system. Additional features include a 2-car metal carport. The property benefits from easy access, located on a corner with entry and exit points from Wilt Ave or directly on Bay Street. The back half of the building is identically designed, creating two offices, each with a consultation room, 3 exam rooms, a minor procedure room, a nurses station, a scale designated area, dressing areas, and 2 individual restrooms, including a back private entrance for the professional. Shared front areas include a staff lounge, work room, chart room laboratory, x-ray, reception, waiting area, and plenty of storage. The building is in beautiful condition, has ample parking, and is ready for one or more professionals.
    Location Intelligence

    Current Use by Public Records

    AdventHealth Medical Group ... Medical Clinic Linda Criswell, PA-C Physician Alicia Benjamin Pediatrician William Finlayson III, ... Physician Robert Martello, DO Pediatrician

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Skin Care Clinic

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

    Similar Places Nearby

    Dr. Christine Cassidy (DVM), Merritt Animal Clinic, Shamrock Gregory K DVM, Vet Wellcare Vaccinations Clinic at Pet Supermarket, Martin James C DVM

    Location Insight

    • Map
    • Local Demand
    City
    Eustis
    County
    Lake
    State
    Florida
    Longitude
    -81.6854731
    Latitude
    28.8607815

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    FAQs

    What type of property is this?
    Medical Office Space - Medical office space in Eustis Central Business District.
    Where is this medical office space located?
    The property is located at 801 N Bay St Eustis, FL.
    What is the asking price?
    The asking price for this property is $840,000.
    What are key features of this property?
    This property features: - Prime location directly on S US Hwy 19 (Bay Street) in Eustis Central Business District.; - Potential for rental income: Building designed for two separate office spaces.; - Recent Renovations: **New roof (2024), ACs (2023), remodeled interior/exterior (2022).**
    (352) 267-6216
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    801 N Bay St Eustis, FL 32726
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    Eustis, FL 32726
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    801 N Bay St Eustis, FL 32726
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    Listing Contact
    Trish Leisner
    Real Estate License ID: 3185853
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