Office Building on Highway
For Sale
$995,000
205 E BURLEIGH BOULEVARD, Tavares, FL 32778
Office building in Tavares with high visibility and ample parking.
Property Size3,721 SF
Price / SF$268.92
Days on Market264
Property Features for 205 E BURLEIGH BOULEVARD
General Information
Standard status
Active
Size
3,721 SF
Property subtype
Commercial
Zoning
RSF-1
Taxes and HOA fees
Annual Taxes
$11,584
Building Details
Building Size
3,721 SF
Year Built
1984
Stories
1
Units
1
Listing Agency:
WATSON REALTY CORP
(352) 267-9912
Listed By:
Lisa West · License #3088016
(352) 267-9912
Source:
Mbifloridarealty
Added: Dec 2, 2025
Changed: Aug 23
Last Checked: Aug 23 at 11:04AM
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 WATSON REALTY CORP
Investment Insights
Based on property information with market context.
Located on Highway 441 in Tavares, this over 3,700 square foot office building offers a prime Central Florida location. The property is situated in one of Florida's fastest-growing counties, minutes from Advent Health Waterman Hospital and a short drive to Lake County Government buildings and the Lake County Courthouse. Currently used as a law firm, the interior layout features twelve offices, a copy room, a break room, and three half bathrooms. The building has high visibility with desirable signage clearly seen from the road, easy access from 441, and fourteen parking spaces, including two designated for handicap. Additional features include a covered entry with stone pavers and aluminum soffits and three entry doors. The roof was replaced ten years ago, and two American Standard Silver Series A/C units were replaced six years ago. The property is located just 45 minutes from Orlando or The Villages. It is suitable for a medical building, general commercial site, or larger office space. A Phase I Environmental Site Assessment, Limited Asbestos Survey, and Mold Report are on file.
Key Highlights
- High‑traffic location on Hwy 441 with excellent visibility and signage.
- Fourteen parking spaces, including two handicap spaces, and easy access from Hwy 441.
- Large office space with twelve offices,** copy room, break room, and three half bathrooms totaling over 3,700 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
$55,278
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
5.56%
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%
$1,105,560
$1.1M
Cap Rate 7%
$789,686
$789.7K
Cap Rate 9%
$614,200
$614.2K
Market Conditions
NOI Build-Up for 3,700 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
$88.8K $24.00/SF
− Vacancy
−$15.1K −$4.08/SF
EGI
$73.7K $19.92/SF
− OpEx
−$18.4K −$4.98/SF
NOI
$55.3K $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%
$1,105,560
Cap Rate 7%
$789,686
Cap Rate 9%
$614,200
Alternative Uses
Best Use
Office B
$789.7K
$691.0K – $921.3K
NOI $55,278 @ 7.0% cap · market cap 5.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$921.3K – $1.23M
NOI $73,704 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
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?
Office building - Office building in Tavares with high visibility and ample parking.
Where is this office building located?
The property is located at 205 E BURLEIGH BOULEVARD Tavares, FL.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: High‑traffic location on Hwy 441 with **excellent visibility and signage.**; Fourteen parking spaces, including two handicap spaces, and easy access from Hwy 441.; Large office space with twelve offices,** copy room, break room, and three half bathrooms totaling over 3,700 sq ft.
