Eustis Professional/Medical Office For
For Sale
$450,000
1318 S Eustis St, Eustis, FL 32726
2,200 SF office building in a convenient Eustis location.
Property Size1,950 SF
Price / SF$230.77
Days on Market203
Property Features for 1318 S Eustis St
General Information
Standard status
Active
Size
1,950 SF
Taxes and HOA fees
Annual Taxes
$6,251
Listing Agency:
exp realty llc
Listed By:
Meredith Findley · License #3638884
(888) 883-8509
Source:
Exprealty
Added: Mar 3
Changed: Sep 19
Last Checked: Sep 21 at 10:04AM
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 exp realty llc
Investment Insights
Based on property information with market context.
Located in Eustis, Florida, and near AdventHealth Waterman, the property at 1318 S Eustis Street presents an opportunity for a professional or medical office. Constructed in 1995, this 2,200 square foot building features solid block and stucco construction and a metal roof. City utilities are available. The interior includes a reception and waiting area with updated flooring and large windows. Multiple offices are arranged to facilitate workflow. On-site parking is available. Situated within city limits on a paved street among established businesses, the location offers accessibility to the community. The location has a walk score of 75, indicating it is very walkable, and a bike score of 55, indicating it is bikeable.
Key Highlights
- Prime location in the heart of Eustis, offering high visibility and accessibility.
- Ideal for professional or medical office use, situated minutes from AdventHealth Waterman.
- 2,200 sq ft building with solid block and stucco construction and a durable metal roof.**
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
$29,133
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
6.47%
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%
$582,660
$582.7K
Cap Rate 7%
$416,186
$416.2K
Cap Rate 9%
$323,700
$323.7K
Market Conditions
NOI Build-Up for 1,950 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
$46.8K $24.00/SF
− Vacancy
−$8.0K −$4.08/SF
EGI
$38.8K $19.92/SF
− OpEx
−$9.7K −$4.98/SF
NOI
$29.1K $14.94/SF
Area
Lake County, FL
Vacancy
17.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$582,660
Cap Rate 7%
$416,186
Cap Rate 9%
$323,700
Alternative Uses
Best Use
Office B
$416.2K
$364.2K – $485.6K
NOI $29,133 @ 7.0% cap · market cap 6.47%
Second Best
Healthcare Medical
$397.1K
$347.5K – $463.3K
NOI $27,799 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$554.9K
$485.6K – $647.4K
NOI $38,844 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
507
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32726, FL
23,012
Population
11,168
Households
2.1
Avg Household Size
45
Median Age
21%
College-Educated
88%
High-School Grad
11.5 sq mi
ZIP Area
2,001
Density / Sq Mi
$60,750
Median Household Income
$37,197
Median Earnings
$1,027
Median Rent
$230,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - 2,200 SF office building in a convenient Eustis location.
Where is this medical office space located?
The property is located at 1318 S Eustis St Eustis, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Prime location in the heart of Eustis, offering high visibility and accessibility.; Ideal for professional or medical office use, situated minutes from AdventHealth Waterman.; 2,200 sq ft building with solid block and stucco construction and a durable metal roof.**
