Office/Warehouse Flex
For Sale
$1,298,000
3101 Kurt Street EUSTIS, Eustis, FL 32726
Two-building property offers office/warehouse units and storage units, fully leased to nine tenants and professionally managed.
Property Size11,200 SF
Price / SF$162.25
Days on Market48
Property Features for 3101 Kurt Street EUSTIS
General Information
Standard status
Active
Size
11,200 SF
Zoning
GC
Occupancy
100%
Additional Details
Business Included
Yes
Office Units
2
Taxes and HOA fees
Annual Taxes
$13,746
Amenities
Ceramic Tile,Concrete,Laminate,Luxury Vinyl,Tile
true
Public Records
Central Business District
Public
38400
0.88
false
19 to 30 Spaces
Asphalt
Slab
City Street
11200
2
Public Maintained Road
1
9
Building Details
Building Size
11,200 SF
Year Built
1979
Buildings
2
Tenancy
Multi
Listing Agency:
THE REAL ESTATE COLLECTION LLC
(407) 656-7814
Listed By:
Matthew Kester · License #3121297
(407) 656-7814
Source:
Therealestatecollection
Added: Jul 12
Changed: Aug 25
Last Checked: Aug 28 at 7:34AM
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 THE REAL ESTATE COLLECTION LLC
Investment Insights
Based on property information with market context.
Kurt St. Plaza is a two-building property featuring office/warehouse units in the front building and storage units in the back building. The front building includes eight 1,000-square-foot office/warehouse units. The back building contains 13 storage units and two offices.
The property is located off Kurt St. and Hwy 441 in Eustis, Florida.
Kurt St. Plaza is fully leased with nine tenants and is professionally managed, providing an income-generating setup with both flexible space and dedicated storage configurations.
The property is located off Kurt St. and Hwy 441 in Eustis, Florida.
Kurt St. Plaza is fully leased with nine tenants and is professionally managed, providing an income-generating setup with both flexible space and dedicated storage configurations.
Key Highlights
- Two‑building Kurt St. Plaza in Eustis, located off Kurt St. and Hwy 441
- 11200 total building area with 2 buildings and multiple unit types
- Front building offers 8 office/warehouse units (each 1,000 SF) and the rear building has 13 storage units plus 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
2
Office units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
852
Businesses Nearby
Under-served
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 property offers office/warehouse units and storage units, fully leased to nine tenants and professionally managed.
Where is this flex space located?
The property is located at 3101 Kurt Street EUSTIS 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: Two‑building Kurt St. Plaza in Eustis, located off Kurt St. and Hwy 441; 11200 total building area with 2 buildings and multiple unit types; Front building offers 8 office/warehouse units (each 1,000 SF) and the rear building has 13 storage units plus 2 offices
