Corner Property on South
2405 SOUTH STREET, Leesburg, FL 34748
For Sale
$449,850
Mixed-use property with frontage on SR 44 in Leesburg.
Property Size2,379 SF
Lot Size0.55 Acres
Price / SF$189.09
Days on Market590
Property Features for 2405 SOUTH STREET
General Information
Standard status
Size
Lot size
Property subtype
Taxes and HOA fees
Annual Taxes
Amenities
Central air
Corner Lot
Metal Roof
Carpet Flooring
Central Air Cooling
Central Heating
Linoleum Flooring
Near Public Transit
Parking Spaces - 6 to 12
Paved
Shingle Roof
Building Details
Year Built
Listing Agency:
ERA GRIZZARD REAL ESTATE
(352) 787-6966
Listed By:
CRAIG YOX · License #512601
(352) 255-6002
Source:
Corcoran
Added: Mar 27, 2025
Changed: Nov 6
Last Checked: Nov 6 at 8:11AM
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
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Investment Insights
Based on property information with market context.
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.
Key Highlights
- 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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,542
Cap Rate
7.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$710,840
$710.8K
Cap Rate 7%
$507,743
$507.7K
Cap Rate 9%
$394,911
$394.9K
Market Conditions
NOI Build-Up for 2,379 SF
Gross rent
$57.1K $24.00/SF
− Vacancy
−$9.7K −$4.08/SF
EGI
$47.4K $19.92/SF
− OpEx
−$11.8K −$4.98/SF
NOI
$35.5K $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%
$710,840
Cap Rate 7%
$507,743
Cap Rate 9%
$394,911
Alternative Uses
Best Use
Office B
$507.7K
$444.3K – $592.4K
NOI $35,542 @ 7.0% cap · market cap 7.90%
Second Best
Mixed Use
$448.6K
$392.5K – $523.4K
NOI $31,403 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$677.0K
$592.4K – $789.8K
NOI $47,390 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
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 $449,850.
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.
