Climate-Controlled Self Storage
For Sale
$1,600,000
711 N 3rd St LEESBURG, Leesburg, FL 34748
Turnkey facility with climate-controlled storage units on two levels and three leased medical office suites at the front.
Property Size15,300 SF
Price / SF$104.58
Days on Market40
Property Features for 711 N 3rd St LEESBURG
General Information
Standard status
Active
Size
15,300 SF
Zoning
C-3
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Office Units
3
Taxes and HOA fees
Annual Taxes
$17,028
Amenities
2
Public Records
true
37897
0.87
false
19 to 30 Spaces
Asphalt
Concrete Perimeter
Business District,Divided Highway,Turn Lanes
15300
1
Building Details
Building Size
15,300 SF
Year Built
2005
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
(904) 569-5862
Listed By:
Jennifer Barnett
(904) 569-5862
Source:
Movetojacksonville
Added: Jul 6
Changed: Aug 14
Last Checked: Aug 14 at 8:18AM
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 Jennifer Barnett
Investment Insights
Based on property information with market context.
Leesburg Self Storage is a fully operational, turnkey mixed-use commercial property combining three leased medical office suites at the front with climate-controlled self-storage units in the rear. The medical component totals 3,200 sq. ft. and is leased under three-year agreements across three suites, with the suites able to be leased individually or combined.
The self-storage area totals 15,300 sq. ft. and includes unit sizes ranging from 20 sq. ft. up to 770 sq. ft. Units are climate-controlled and distributed across two levels, with elevator access to the upper floor. The facility is described as using a fully automated management system that supports remote operation, online bookings, digital payments, and secure access.
The property is located in Leesburg, Florida, just off SR-441, and is positioned near major highways and high-traffic corridors. Public remarks also note it was voted the #1 self-storage facility in 2024 by the Quality Business Awards.
The self-storage area totals 15,300 sq. ft. and includes unit sizes ranging from 20 sq. ft. up to 770 sq. ft. Units are climate-controlled and distributed across two levels, with elevator access to the upper floor. The facility is described as using a fully automated management system that supports remote operation, online bookings, digital payments, and secure access.
The property is located in Leesburg, Florida, just off SR-441, and is positioned near major highways and high-traffic corridors. Public remarks also note it was voted the #1 self-storage facility in 2024 by the Quality Business Awards.
Key Highlights
- Leesburg Self Storage is a 15,300 sq. ft. self‑storage facility with climate‑controlled units across two levels, with elevator access to the upper floor.
- Front portion includes three leased medical office suites totaling 3,200 sq. ft., leased under three‑year agreements.
- Property includes fully climate‑controlled storage units ranging from 20 sq. ft. up to 770 sq. ft.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$143,428
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.96%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,868,560
$2.9M
Cap Rate 7%
$2,048,971
$2.0M
Cap Rate 9%
$1,593,644
$1.6M
Market Conditions
NOI Build-Up for 15,300 SF
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.
Gross rent
$220.3K $14.40/SF
− Vacancy
−$15.4K −$1.01/SF
EGI
$204.9K $13.39/SF
− OpEx
−$61.5K −$4.02/SF
NOI
$143.4K $9.37/SF
Area
Lake County, FL
Vacancy
7.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,868,560
Cap Rate 7%
$2,048,971
Cap Rate 9%
$1,593,644
Alternative Uses
Best Use
Office B
$3.27M
$2.86M – $3.81M
NOI $228,582 @ 7.0% cap · market cap 14.29%
Second Best
Healthcare Medical
$3.12M
$2.73M – $3.64M
NOI $218,117 @ 7.0% cap · market cap 13.63%
Theoretical Best
Office A
$4.35M
$3.81M – $5.08M
NOI $304,776 @ 7.0% cap · market cap 19.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,333
Businesses Nearby
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Turnkey facility with climate-controlled storage units on two levels and three leased medical office suites at the front.
Where is this self storage facility located?
The property is located at 711 N 3rd St LEESBURG Leesburg, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Leesburg Self Storage is a 15,300 sq. ft. self‑storage facility with climate‑controlled units across two levels, with elevator access to the upper floor.; Front portion includes three leased medical office suites totaling 3,200 sq. ft., leased under three‑year agreements.; Property includes fully climate‑controlled storage units ranging from 20 sq. ft. up to 770 sq. ft.
