Corner Automotive
For Sale
$925,000
1421 Griffin Rd, Leesburg, FL 34748
C-3 zoning, existing improvements, and utility service accommodate automotive and other commercial applications.
Property Size3,092 SF
Lot Size1.58 Acres
Price / SF$299.16
Days on Market196
Property Features for 1421 Griffin Rd
General Information
Standard status
Active
Size
3,092 SF
Lot size
1.58 Acres
Property subtype
Big Box Retail
Zoning
C-3
Site & Location
Traffic Count
8,600 vehicles/day
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Utilities to Site
Yes
Additional Details
Land Use
commercial
Amenities
canopy
Building Details
Building Size
3,092 SF
Year Built
1961
Buildings
2
Listing Agency:
SLC Commercial
Listed By:
Sam Zuker
(772) 220-4096
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 10:41PM
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 SLC Commercial
Investment Insights
Based on property information with market context.
This 1.58-acre commercial site includes two existing buildings with distinct street orientations. The 660 SF structure faces Griffin Road, while the 2,432 SF building fronts Penn Street and includes a 1,725 SF canopy. The improvements were previously used for automotive-related operations, including an auto dealership and mechanic shop, and were built in 1961.
Positioned at the southeast corner of Griffin Road and Penn Street, the property is approximately 430 feet west of U.S. Route 441/U.S. Route 27. Griffin Road carries approximately 8,600 vehicles daily. The site is served by Leesburg Utilities with water, sewer, and electric service and is zoned C-3 (Commercial Highway) by the City of Leesburg.
Positioned at the southeast corner of Griffin Road and Penn Street, the property is approximately 430 feet west of U.S. Route 441/U.S. Route 27. Griffin Road carries approximately 8,600 vehicles daily. The site is served by Leesburg Utilities with water, sewer, and electric service and is zoned C-3 (Commercial Highway) by the City of Leesburg.
Key Highlights
- 1.58± acres at the southeast corner of Griffin Road and Penn Street
- 660± SF building fronting Griffin Road
- 2,432± SF building with a 1,725± SF canopy
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
$36,583
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
3.95%
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%
$731,660
$731.7K
Cap Rate 7%
$522,614
$522.6K
Cap Rate 9%
$406,478
$406.5K
Market Conditions
NOI Build-Up for 3,092 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
$55.7K $18.00/SF
− Vacancy
−$3.4K −$1.10/SF
EGI
$52.3K $16.90/SF
− OpEx
−$15.7K −$5.07/SF
NOI
$36.6K $11.83/SF
Area
Lake County, FL
Vacancy
6.10%
Lease Rate
$18.00 /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%
$731,660
Cap Rate 7%
$522,614
Cap Rate 9%
$406,478
Alternative Uses
Best Use
Retail
$522.6K
$457.3K – $609.7K
NOI $36,583 @ 7.0% cap · market cap 3.95%
Second Best
Industrial
$246.8K
$215.9K – $287.9K
NOI $17,273 @ 7.0% cap · market cap 1.87%
Theoretical Best
Office A
$879.9K
$769.9K – $1.03M
NOI $61,593 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8,600 VPD
Traffic count
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
646
Businesses Nearby
238k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 32%
Home Improvements & Furnishings 25%
Dining 23%
Apparel 10%
Rural King
Home Improvements & Furnishings
44,558 visits/mo
0.4 miles
Wawa
Shops & Services
41,265 visits/mo
0.2 miles
McDonald's
Dining
29,471 visits/mo
0.4 miles
Big Lots
Superstores
15,789 visits/mo
0.5 miles
Bealls
Apparel
12,231 visits/mo
0.4 miles
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- ALCOLOCK @ C&M Auto Repair — 1226 penn st, leesburg, fl 34748
Frequently Asked Questions
What type of property is this?
Auto shop - C-3 zoning, existing improvements, and utility service accommodate automotive and other commercial applications.
Where is this auto shop located?
The property is located at 1421 Griffin Rd Leesburg, FL.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 1.58± acres at the southeast corner of Griffin Road and Penn Street; 660± SF building fronting Griffin Road; 2,432± SF building with a 1,725± SF canopy
