Light Industrial
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For Sale
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1817 Greenleaf Ln, Leesburg, FL 34748
The property features M-1 zoning and grade-level loading access.
Property Size11,520 SF
Price / SF$208.33
Days on Market6
Property Features for 1817 Greenleaf Ln
General Information
Standard status
Active
Size
11,520 SF
Property subtype
INDUSTRIAL
Listing Agency:
JLL | Orlando
(407) 982-8550
Listed By:
Nathan Eissler, CCIM, SIOR
(407) 342-7494
Source:
Moodyscre
Added: Sep 17
Changed: Sep 20
Last Checked: Sep 21 at 11:42AM
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 JLL | Orlando
Investment Insights
Based on property information with market context.
This 11,520-square-foot warehouse is a metal-construction industrial building with 870 square feet of office space. The facility was built in 2007 and renovated in 2019, with a newly installed fire alarm system and four grade-level roll-up doors measuring 10 by 12 feet each. Ample parking is also provided.
Located at 1817 Greenleaf Ln in Leesburg, the property offers access within 0.6 miles of US-441/US-27. M-1 Light Industrial zoning supports its warehouse and industrial classification.
Located at 1817 Greenleaf Ln in Leesburg, the property offers access within 0.6 miles of US-441/US-27. M-1 Light Industrial zoning supports its warehouse and industrial classification.
Key Highlights
- 11,520 SF warehouse with 870 SF of office space
- M‑1 - Light Industrial zoning
- Four grade‑level 10x12 roll‑up doors
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
$78,144
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
3.26%
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%
$1,562,880
$1.6M
Cap Rate 7%
$1,116,343
$1.1M
Cap Rate 9%
$868,267
$868.3K
Market Conditions
NOI Build-Up for 11,520 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
$100.9K $8.76/SF
− Vacancy
−$9.0K −$0.78/SF
EGI
$91.9K $7.98/SF
− OpEx
−$13.8K −$1.20/SF
NOI
$78.1K $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%
$1,562,880
Cap Rate 7%
$1,116,343
Cap Rate 9%
$868,267
Alternative Uses
Best Use
Warehouse
$1.12M
$976.8K – $1.30M
NOI $78,144 @ 7.0% cap · market cap 3.26%
Second Best
Industrial
$919.3K
$804.4K – $1.07M
NOI $64,354 @ 7.0% cap · market cap 2.68%
Theoretical Best
Office A
$3.28M
$2.87M – $3.82M
NOI $229,478 @ 7.0% cap · market cap 9.56%
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
439
Businesses Nearby
Well-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Warehouse - The property features M-1 zoning and grade-level loading access.
Where is this warehouse located?
The property is located at 1817 Greenleaf Ln Leesburg, FL.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 11,520 SF warehouse with 870 SF of office space; M‑1 - Light Industrial zoning; Four grade‑level 10x12 roll‑up doors
