Under-Construction Flex
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For Sale
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2221 N US HIGHWAY 27/441, Fruitland Park, FL 34731
Steel flex property combining warehouse, office, showroom, and loading areas on a high-exposure commercial site.
Property Size53,712 SF
Lot Size4.80 Acres
Price / SF$93.09
Days on Market4
Property Features for 2221 N US HIGHWAY 27/441
General Information
Standard status
Active
Size
53,712 SF
Lot size
4.80 Acres
Property subtype
Warehouse
Site & Location
Traffic Count
31,500 vehicles/day
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Warehouse Space
34,300 SF
Office Build-Out
9,612 SF
Dock-High Doors
7
Taxes and HOA fees
Annual Taxes
$15,074
Amenities
break room
elevator
Building Details
Building Size
53,712 SF
Year Built
2025
Buildings
1
Construction
steel frame
Listing Agency:
TRANZON DRIGGERS
Listed By:
Kevin Weinsheimer · License #CQ1040572
(352) 369-1047
Source:
Thefullerproperties
Added: Sep 15
Changed: Sep 17
Last Checked: Sep 16 at 6:44PM
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 TRANZON DRIGGERS
Investment Insights
Based on property information with market context.
This under-construction flex property occupies a 4.8+-acre site and is approximately 60% complete. The steel building includes 34,300+- square feet of warehouse space with 7+- loading and receiving bays, along with two stories of office space totaling 9,612+- square feet. Office improvements include break rooms, restrooms, and an elevator. A front entry leads to a 9,800+-square-foot showroom, bringing the substantially complete building to approximately 53,712+- total square feet.
The property fronts US-441 for approximately 600+- feet and has two ingress and egress points. The corridor carries approximately 31,500+- AADT. The site is positioned between Orlando and Ocala, just east of The Villages, with final construction work remaining before completion.
The property fronts US-441 for approximately 600+- feet and has two ingress and egress points. The corridor carries approximately 31,500+- AADT. The site is positioned between Orlando and Ocala, just east of The Villages, with final construction work remaining before completion.
Key Highlights
- 4.8+-acre site with approximately 53,712+- total square feet
- 34,300+- square feet of warehouse space
- 7+- loading and receiving bays
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
$364,345
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
7.29%
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%
$7,286,900
$7.3M
Cap Rate 7%
$5,204,929
$5.2M
Cap Rate 9%
$4,048,278
$4.0M
Market Conditions
NOI Build-Up for 53,712 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
$470.5K $8.76/SF
− Vacancy
−$41.9K −$0.78/SF
EGI
$428.6K $7.98/SF
− OpEx
−$64.3K −$1.20/SF
NOI
$364.3K $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%
$7,286,900
Cap Rate 7%
$5,204,929
Cap Rate 9%
$4,048,278
Alternative Uses
Best Use
Retail
$9.08M
$7.94M – $10.59M
NOI $635,488 @ 7.0% cap · market cap 12.71%
Second Best
Warehouse
$5.20M
$4.55M – $6.07M
NOI $364,345 @ 7.0% cap · market cap 7.29%
Theoretical Best
Office A
$15.28M
$13.37M – $17.83M
NOI $1,069,943 @ 7.0% cap · market cap 21.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
7
Dock-high doors
31,500 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
133
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 34731, FL
12,111
Population
6,370
Households
1.9
Avg Household Size
50
Median Age
17%
College-Educated
95%
High-School Grad
15.8 sq mi
ZIP Area
767
Density / Sq Mi
$63,329
Median Household Income
$36,057
Median Earnings
$1,157
Median Rent
$185,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Steel flex property combining warehouse, office, showroom, and loading areas on a high-exposure commercial site.
Where is this flex space located?
The property is located at 2221 N US HIGHWAY 27/441 Fruitland Park, FL.
What is the asking price?
The asking price for this property is $4,999,999.
What are key features of this property?
This property features: 4.8+-acre site with approximately 53,712+- total square feet; 34,300+- square feet of warehouse space; 7+- loading and receiving bays
