Highway Frontage Commercial
For Sale
$999,000
1526 US HIGHWAY 441, Leesburg, FL 34748
Commercial building with highway frontage on over half acre.
Property Size2,560 SF
Lot Size0.64 Acres
Price / SF$390.23
Days on Market236
Property Features for 1526 US HIGHWAY 441
General Information
Standard status
Active
Size
2,560 SF
Lot size
0.64 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$5,514
Amenities
Central air
Metal Roof
Pool
Public Pool
Central Air Cooling
Building Details
Year Built
1975
Listing Agency:
GRIZZARD COMMERCIAL REALESTATE
(352) 787-6966
Listed By:
DANIEL TATRO · License #3190991
Source:
Corcoran
Added: Dec 16, 2025
Changed: Aug 8
Last Checked: Apr 5 at 9:01PM
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 GRIZZARD COMMERCIAL REALESTATE
Investment Insights
Based on property information with market context.
The property features a 2,560 square foot building situated on more than half an acre with approximately 150 feet of frontage on U.S. Highway 441. The average daily traffic count on this section of the highway is almost 37,000 vehicles. Zoned C-3 within the City of Leesburg, the location is suitable for a car lot, retail, office space, and various other commercial uses.
Key Highlights
- High‑traffic location: 150 +\/- feet of frontage on U.S. Hwy. 441 with approximately 37,000 average daily traffic.
- Zoned C‑3 within the City of Leesburg, allowing for a variety of potential uses.
- Substantial building size: 2,560 +\/- 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
$38,246
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
3.83%
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%
$764,920
$764.9K
Cap Rate 7%
$546,371
$546.4K
Cap Rate 9%
$424,956
$425.0K
Market Conditions
NOI Build-Up for 2,560 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
$61.4K $24.00/SF
− Vacancy
−$10.4K −$4.08/SF
EGI
$51.0K $19.92/SF
− OpEx
−$12.7K −$4.98/SF
NOI
$38.2K $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%
$764,920
Cap Rate 7%
$546,371
Cap Rate 9%
$424,956
Alternative Uses
Best Use
Office B
$546.4K
$478.1K – $637.4K
NOI $38,246 @ 7.0% cap · market cap 3.83%
Second Best
Retail
$432.7K
$378.6K – $504.8K
NOI $30,288 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$728.5K
$637.4K – $849.9K
NOI $50,995 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
527
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Commercial building with highway frontage on over half acre.
Where is this commercial land located?
The property is located at 1526 US HIGHWAY 441 Leesburg, FL.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: High‑traffic location: 150 +\/- feet of frontage on U.S. Hwy. 441 with approximately 37,000 average daily traffic.; Zoned C‑3 within the City of Leesburg, allowing for a variety of potential uses.; Substantial building size: 2,560 +\/- Sq. Ft.
