Four-Unit Warehouse
For Sale
$1,150,000
300 Richey Rd, Leesburg, FL 34748
Warehouse property with office space, separate metering, grade-level doors, and a fenced storage yard.
Property Size7,700 SF
Price / SF$149.35
Days on Market62
Property Features for 300 Richey Rd
General Information
Standard status
Active
Size
7,700 SF
Zoning
CIP
Occupancy
50%
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Building Details
Year Built
2005
Building Size
7,700 SF
Listing Agency:
GRIZZARD COMMERCIAL REALESTATE
Listed By:
Daniel Tatro · License #3190991
(352) 396-9136
Source:
Livewelltampabay
Added: Aug 15
Changed: Oct 3
Last Checked: Oct 7 at 1:06PM
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 GRIZZARD COMMERCIAL REALESTATE
Investment Insights
Based on property information with market context.
This 7,700-square-foot warehouse building was constructed in 2005 and configured with office space and four separately metered units. Each unit includes a grade-level roll-up door. One tenant currently occupies two units totaling approximately 3,850 square feet, while the remaining two units are vacant. A secured, fenced area at the rear provides additional storage yard space.
The property is zoned CIP and served by City of Leesburg utilities. It is located in Central Florida within an hour of Orlando and Ocala, near The Villages, I-75, the Florida Turnpike, and U.S. Highways 441, 27, and 301. The configuration supports both continued occupancy and use by an owner-user.
The property is zoned CIP and served by City of Leesburg utilities. It is located in Central Florida within an hour of Orlando and Ocala, near The Villages, I-75, the Florida Turnpike, and U.S. Highways 441, 27, and 301. The configuration supports both continued occupancy and use by an owner-user.
Key Highlights
- 7,700 +/- SF warehouse building constructed in 2005
- Four separately metered units, each with a grade‑level roll‑up door
- Current tenant occupies 3,850 +/- SF across two units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,231
Cap Rate
4.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,044,620
$1.0M
Cap Rate 7%
$746,157
$746.2K
Cap Rate 9%
$580,344
$580.3K
Market Conditions
NOI Build-Up for 7,700 SF
Gross rent
$67.5K $8.76/SF
− Vacancy
−$6.0K −$0.78/SF
EGI
$61.4K $7.98/SF
− OpEx
−$9.2K −$1.20/SF
NOI
$52.2K $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 Rate 5%
$1,044,620
Cap Rate 7%
$746,157
Cap Rate 9%
$580,344
Alternative Uses
Best Use
Warehouse
$746.2K
$652.9K – $870.5K
NOI $52,231 @ 7.0% cap · market cap 4.54%
Second Best
Industrial
$614.5K
$537.7K – $716.9K
NOI $43,014 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$2.19M
$1.92M – $2.56M
NOI $153,384 @ 7.0% cap · market cap 13.34%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
50%
Occupancy
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
258
Businesses Nearby
Under-served
Demand for This Use
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
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Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
- DM Storages, LLC — 2404 Virginia Dr, Leesburg, FL 34748
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse property with office space, separate metering, grade-level doors, and a fenced storage yard.
Where is this warehouse located?
The property is located at 300 Richey Rd Leesburg, FL.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 7,700 +/- SF warehouse building constructed in 2005; Four separately metered units, each with a grade‑level roll‑up door; Current tenant occupies 3,850 +/- SF across two units
