Industrial Flex Property with
For Sale
$949,000
15617 Old Us Highway 441, Tavares, FL 32778
Versatile commercial space combines private offices, warehouse capacity, conditioned storage, and loading access for varied operations.
Property Size6,440 SF
Price / SF$148.28
Days on Market65
Property Features for 15617 Old Us Highway 441
General Information
Standard status
Active
Size
6,440 SF
Warehouse & Industrial
Clear Height
9.8 ft
Warehouse Space
4,200 SF
Office Build-Out
1,500 SF
Conditioned Warehouse
No
Taxes and HOA fees
Annual Taxes
$6,231
Amenities
climate-controlled warehouse restroom
climate controlled storage closet
washer/dryer hookups
covered outdoor patio/work area
kitchenette/conference room
Building Details
Building Size
6,440 SF
Listing Agency:
COLDWELL BANKER HUBBARD HANSEN
(407) 802-7798
Listed By:
Alyssa Rodriguez · License #3434034
(407) 802-7798
Source:
Exprealty
Added: Jun 15
Changed: Aug 17
Last Checked: Aug 17 at 4:42PM
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 COLDWELL BANKER HUBBARD HANSEN
Investment Insights
Based on property information with market context.
This flex property combines approximately 1,500 SF of office space with a 4,200 SF warehouse and an additional 800 SF of climate-controlled storage or workspace. The office configuration includes five private offices, reception, and a kitchenette/conference room. Warehouse clear heights range from approximately 9'8" to 9'10", with multiple grade-level roll-up doors supporting loading and daily operations. Additional improvements include a climate-controlled restroom, 100 SF conditioned storage closet, washer/dryer hookups, and a covered outdoor patio or work area.
Positioned on nearly one-half acre at 15617 Old Us Highway 441 in Tavares, FL, the property includes on-site parking and maneuvering area for employees, customers, and service vehicles. Occupancy is scheduled for Q3/Q4 2026, providing businesses time to plan for a future move into a combined office, industrial, and storage facility.
Positioned on nearly one-half acre at 15617 Old Us Highway 441 in Tavares, FL, the property includes on-site parking and maneuvering area for employees, customers, and service vehicles. Occupancy is scheduled for Q3/Q4 2026, providing businesses time to plan for a future move into a combined office, industrial, and storage facility.
Key Highlights
- Approximately 4,200 SF of warehouse space with clear heights from approximately 9'8" to 9'10"
- Approximately 1,500 SF of office space with five private offices and reception
- Additional 800 SF of climate‑controlled storage/workspace
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
$43,413
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
4.57%
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%
$868,260
$868.3K
Cap Rate 7%
$620,186
$620.2K
Cap Rate 9%
$482,367
$482.4K
Market Conditions
NOI Build-Up for 6,400 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
$56.1K $8.76/SF
− Vacancy
−$5.0K −$0.78/SF
EGI
$51.1K $7.98/SF
− OpEx
−$7.7K −$1.20/SF
NOI
$43.4K $6.78/SF
Area
Lake County, FL
Vacancy
8.90%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
15.00%
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%
$868,260
Cap Rate 7%
$620,186
Cap Rate 9%
$482,367
Alternative Uses
Best Use
Office B
$1.37M
$1.20M – $1.59M
NOI $95,616 @ 7.0% cap · market cap 10.08%
Second Best
Warehouse
$620.2K
$542.7K – $723.6K
NOI $43,413 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,488 @ 7.0% cap · market cap 13.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9 ft
Clear height
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32778, FL
23,993
Population
12,720
Households
1.9
Avg Household Size
52
Median Age
25%
College-Educated
88%
High-School Grad
25.4 sq mi
ZIP Area
945
Density / Sq Mi
$61,815
Median Household Income
$40,942
Median Earnings
$1,384
Median Rent
$241,500
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?
Flex space - Versatile commercial space combines private offices, warehouse capacity, conditioned storage, and loading access for varied operations.
Where is this flex space located?
The property is located at 15617 Old Us Highway 441 Tavares, FL.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Approximately 4,200 SF of warehouse space with clear heights from approximately 9'8" to 9'10"; Approximately 1,500 SF of office space with five private offices and reception; Additional 800 SF of climate‑controlled storage/workspace
