Leased Flex Space with
For Sale
$1,298,000
3101 KURT Street, Eustis, FL 32726
Commercial Sale, EUSTIS, FL
Property Size8,000 SF
Lot Size0.88 Acres
Price / SF$162.25
Days on Market473
Property Features for 3101 KURT Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GC
Subdivision
EUSTIS LAKE SAUNDERS SUB
Lot features
Central Business District
Directions
From Mount Dora head North/West on Hwy 441 to Eustis, Left on Kurt St. to property on left.
Standard status
Active
APN
22-19-26-0401-000-04000
Size
8,000 SF
Lot size
0.88 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
EUSTIS LAKE SAUNDERS SUB LOT 40--LESS STREET--LOT 41 PB 4 PG 30 ORB 4817 PG 1098
Tax Annual Amount
13746
Legal Description
EUSTIS LAKE SAUNDERS SUB LOT 40--LESS STREET--LOT 41 PB 4 PG 30 ORB 4817 PG 1098
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Ductless (Heating), Electric (Heating), Central
Cooling system
Wall/Window Unit(s), Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1979
Floors in Building
1
Number of units
23
Flooring type
Vinyl, Laminate, Tile, Tile - Ceramic, Concrete
Building materials
Block, Metal Frame
Roof type
Shingle, Metal
Listing Agency:
DAVE LOWE REALTY, INC.
(352) 383-7104
Listed By:
Ronald Musselman · License #3102851
(352) 978-1921
Added: May 10, 2025
Changed: Aug 24
Last Checked: Aug 25 at 6:06PM
MLS# G5096895
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 8,000-square-foot flex property comprises two buildings on 0.88 acres. The front building contains eight 1,000-square-foot office/warehouse units, while the rear building provides 13 storage units and two offices. Block and metal-frame construction, varied flooring, public water and sewer, and available electric service support the existing configuration. The improvements date to 1979 and include both shingle and metal roofing.
Located at 3101 Kurt Street in Eustis, the property sits near Kurt Street and Hwy 441. The asset is fully leased to nine tenants and professionally managed, providing an established operating setup for an investor seeking occupied commercial space.
Located at 3101 Kurt Street in Eustis, the property sits near Kurt Street and Hwy 441. The asset is fully leased to nine tenants and professionally managed, providing an established operating setup for an investor seeking occupied commercial space.
Key Highlights
- 8,000 SF flex property on 0.88 acres
- Eight 1,000‑square‑foot office/warehouse units in the front building
- Rear building includes 13 storage units and 2 offices
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
$74,995
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
5.78%
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%
$1,499,900
$1.5M
Cap Rate 7%
$1,071,357
$1.1M
Cap Rate 9%
$833,278
$833.3K
Market Conditions
NOI Build-Up for 8,000 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
$115.2K $14.40/SF
− Vacancy
−$8.1K −$1.01/SF
EGI
$107.1K $13.39/SF
− OpEx
−$32.1K −$4.02/SF
NOI
$75.0K $9.37/SF
Area
Lake County, FL
Vacancy
7.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$1,499,900
Cap Rate 7%
$1,071,357
Cap Rate 9%
$833,278
Alternative Uses
Best Use
Office B
$1.71M
$1.49M – $1.99M
NOI $119,520 @ 7.0% cap · market cap 9.21%
Second Best
Self Storage
$1.07M
$937.4K – $1.25M
NOI $74,995 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$2.28M
$1.99M – $2.66M
NOI $159,360 @ 7.0% cap · market cap 12.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Office units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
851
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32726, FL
23,012
Population
11,168
Households
2.1
Avg Household Size
45
Median Age
21%
College-Educated
88%
High-School Grad
11.5 sq mi
ZIP Area
2,001
Density / Sq Mi
$60,750
Median Household Income
$37,197
Median Earnings
$1,027
Median Rent
$230,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Two-building commercial property combines office/warehouse suites with storage and additional office space.
Where is this flex space located?
The property is located at 3101 KURT Street Eustis, FL.
What is the asking price?
The asking price for this property is $1,298,000.
What are key features of this property?
This property features: 8,000 SF flex property on 0.88 acres; Eight 1,000‑square‑foot office/warehouse units in the front building; Rear building includes 13 storage units and 2 offices
