Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2405 SOUTH STREET Leesburg, FL 34748

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $525,000

    Mixed-use property with frontage on SR 44 in Leesburg.

    Type:Commercial
    Property size:
    2,379 SF
    Lot size:
    0.55 Acres
    Price / SF:
    $220/SF
    Added:
    Mar 27, 2025
    Days on Market:
    391
    Last Refresh:
    Apr 5 at 9:13 pm

    Property Features for 2405 SOUTH STREET

    General Information

    Standard status
    Active
    Size
    2,379 SF
    Lot size
    0.55 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1951

    We can help!

    Listing Contact
    CRAIG YOX

    Listing agent CRAIG YOX

    Listing office ERA GRIZZARD REAL ESTATE

    Listing date Mar 27, 2025

    Source Corcoran

    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 ERA GRIZZARD REAL ESTATE

    Overview

    Corner Property on South Street

    This corner property features 145 feet of frontage on South Street (SR 44) in Leesburg. Zoned R2, the property is situated among commercial and residential areas. The main building offers 2379 square feet of heated and cooled space, including two bedrooms, two bathrooms, a full kitchen, multiple offices, a showroom, and a work area. An additional 1925-square-foot warehouse/workshop is located on the property, equipped with two overhead doors. The property spans over half an acre and provides ample parking.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    M & J Verticals ... (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Leesburg
    County
    Lake
    State
    Florida
    Longitude
    -81.9044
    Latitude
    28.8027

    Nearby Similar for Sale

    • $599,000
      2,968 SF

      Downtown Leesburg Professional Office Building

      Well-maintained office building in downtown Leesburg with tenant in place.
      1029 W MAGNOLIA STREET, LEESBURG, FL 34748
      View Details
    • $1,250,000
      9,800 SF

      Leesburg Office Building on Highway 441

      9,800 SF medical/professional office building with highway frontage.
      401 E NORTH BOULEVARD, LEESBURG, FL 34748
      View Details
    • $750,000
      3,956 SF

      Leesburg Retail Building For Sale

      Two-unit retail building with billboard on Highway 27.
      107 S 14TH STREET, LEESBURG, FL 34748
      View Details
    • $500,000
      4,356 SF

      Leesburg Quadruplex: Investment Opportunity

      Income-producing quadruplex near Beacon College and historic downtown Leesburg.
      643 W OAK TERRACE DRIVE, LEESBURG, FL 34748
      View Details
    • $425,000
      1,454 SF

      Leesburg Triplex Investment Opportunity

      Fully rented triplex in Leesburg, Florida, with immediate rental income.
      1611 INDIAN TRAIL, LEESBURG, FL 34748
      View Details
    • $1,600,000
      15,300 SF

      Leesburg Mixed-Use Commercial Property

      Mixed-use commercial property with medical suites and self-storage units.
      711 N 3RD ST, LEESBURG, FL 34748
      View Details
    • $599,000

      Downtown Leesburg Professional Office Building

      Well-maintained office building in downtown Leesburg with tenant in place.
      1029 W MAGNOLIA St, Leesburg, FL 34748
      View Details
    • $670,000
      3,465 SF

      Former Assisted Living Facility

      20-bed facility in Downtown Leesburg, FL, ready for boarding house.
      201 ROSEFIELD AVENUE, LEESBURG, FL 34748
      View Details
    • $1,250,000
      9,800 SF

      Medical/Professional Office Building on 441

      9,800 sq ft medical/professional office building for sale.
      401 E NORTH BOULEVARD, LEESBURG, FL 34748
      View Details
    • $1,200,000
      6,939 SF

      Downtown Leesburg Office Building

      Versatile office building in downtown Leesburg, Florida for sale.
      206 N 3RD ST St, LEESBURG, FL 34748
      View Details
    • $750,000
      3,956 SF

      Retail Building on Highway 27

      Two-unit retail building with billboard on Highway 27.
      107 S 14TH STREET, LEESBURG, FL 34748
      View Details
    • $950,000

      Equestrian Estate on 22.5 Acres

      22.5 acre Leesburg estate ideal for horse enthusiasts or investors.
      41204 EMERALDA ISLAND ROAD, LEESBURG, FL 34788
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with frontage on SR 44 in Leesburg.
    Where is this mixed-use property located?
    The property is located at 2405 SOUTH STREET Leesburg, FL.
    What is the asking price?
    The asking price for this property is $525,000.
    What are key features of this property?
    This property features: High‑visibility corner location with **145 ft frontage on SR 44 (South Street)**.; Zoned R2, suitable for both commercial and residential use.; Main building boasts **2379 sq ft of heated/cooled space**, including 2 bedrooms, 2 baths, kitchen, offices, showroom, and work area.
    (352) 787-6966
    We can help!
    Listing Contact
    CRAIG YOX
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!