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Building Details

Year Built 1978

Listing Agency: DAVE LOWE REALTY, INC.

Listed By: Nova Fuller · License #3082499 Show Phone

Source: Livewelltampabay

Added: Aug 21 Changed: Oct 3 Last Checked: Oct 7 at 4:38PM

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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 DAVE LOWE REALTY, INC.

Investment Insights

Based on property information with market context.

This mixed-use property combines a 3-bedroom, 2-bath residence with a commercial shop and secured outdoor areas. The home, built in 1978, has an open interior arrangement, an updated kitchen, central air, and a new drainfield. The 20×50 shop is equipped for automotive repair and mechanical work, with a vehicle lift, tools, an air system, a dedicated office, and overhead storage.

The site includes a fully fenced yard with multiple storage areas and is positioned along a paved state road with highway frontage. A wrecker and large toy hauler are included. The property supports the existing automotive and salvage setup while providing space for towing, roadside service, equipment storage, recycling, or contractor operations.

Key Highlights

• 3‑bedroom, 2‑bath home with open layout and updated kitchen
• 20×50 equipped shop with lift, tools, air system, office, and overhead storage
• Fully fenced 165x280 yard with multiple storage areas

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,753

Cap Rate

3.63%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$435,060 $435.1K

Cap Rate 7%

$310,757 $310.8K

Cap Rate 9%

$241,700 $241.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,456 SF

Gross rent

$34.9K $24.00/SF

− Vacancy

−$5.9K −$4.08/SF

EGI

$29.0K $19.92/SF

− OpEx

−$7.3K −$4.98/SF

NOI

$21.8K $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 Rate 5%

$435,060

Cap Rate 7%

$310,757

Cap Rate 9%

$241,700

Alternative Uses

Best Use

Office B

$310.8K

$271.9K – $362.6K (±1% cap)

NOI $21,753 @ 7.0% cap · market cap 3.63%

Second Best

Mixed Use

$274.6K

$240.2K – $320.3K (±1% cap)

NOI $19,219 @ 7.0% cap · market cap 3.20%

Theoretical Best

Office A

$414.3K

$362.6K – $483.4K (±1% cap)

NOI $29,004 @ 7.0% cap · market cap 4.83%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Live-work space

Suggested Use

Top Pick Real Estate Agency Law Firm Auto Parts Store Storage Facility Big Box & Wholesale Store Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

59

Businesses Nearby

Explore this area Business Placement

Demographics for 32736, FL

11,412

Population

4,445

Households

2.6

Avg Household Size

46

Median Age

22%

College-Educated

90%

High-School Grad

109.1 sq mi

ZIP Area

105

Density / Sq Mi

$83,727

Median Household Income

$46,408

Median Earnings

$1,136

Median Rent

$352,100

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Live-work setup combines a three-bedroom home, equipped service shop, and fenced storage yard.

Where is this mixed-use property located?

The property is located at 20024 State Road 44 Eustis, FL.

What is the asking price?

The asking price for this property is $600,000.

What are key features of this property?

This property features: 3‑bedroom, 2‑bath home with open layout and updated kitchen; 20×50 equipped shop with lift, tools, air system, office, and overhead storage; Fully fenced 165x280 yard with multiple storage areas