Leased Auto Shop with
For Sale
$1,500,000
32416 COUNTY ROAD 473, Leesburg, FL 34788
Automotive property under lease through 2033, producing $96,000 gross annual income paid bi-weekly.
Property Size6,708 SF
Days on Market176
Property Features for 32416 COUNTY ROAD 473
General Information
Standard status
Active
Size
6,708 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$5,039
Building Details
Building Size
6,708 SF
Year Built
1984
Stories
1
Listing Agency:
FLORIDA REAL ESTATE GROWTH SERVICES
Listed By:
Lee Johnson
(352) 455-4228
Source:
Elliman
Added: Apr 28
Changed: Oct 5
Last Checked: Oct 19 at 7:33AM
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 FLORIDA REAL ESTATE GROWTH SERVICES
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This automotive property is currently under lease that includes both the real estate and equipment. The lease generates $96,000 gross annual income, paid bi-weekly, and it expires in 2033.
A second property to the rear is also available and is zoned Planned Commercial (CP). The site is centrally located in Lake County and is near Leesburg Airport and shopping.
Buyer assumes responsibility for verifying all information and determining suitability for intended use.
A second property to the rear is also available and is zoned Planned Commercial (CP). The site is centrally located in Lake County and is near Leesburg Airport and shopping.
Buyer assumes responsibility for verifying all information and determining suitability for intended use.
Key Highlights
- Automotive property under lease (real estate & equipment) generating $96,000 gross annual income paid bi‑weekly
- Lease expires in 2033
- Year built: 1984
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,365
Cap Rate
5.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,587,300
$1.6M
Cap Rate 7%
$1,133,786
$1.1M
Cap Rate 9%
$881,833
$881.8K
Market Conditions
NOI Build-Up for 6,708 SF
Gross rent
$120.7K $18.00/SF
− Vacancy
−$7.4K −$1.10/SF
EGI
$113.4K $16.90/SF
− OpEx
−$34.0K −$5.07/SF
NOI
$79.4K $11.83/SF
Area
Lake County, FL
Vacancy
6.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,587,300
Cap Rate 7%
$1,133,786
Cap Rate 9%
$881,833
Alternative Uses
Best Use
Retail
$1.13M
$992.1K – $1.32M
NOI $79,365 @ 7.0% cap · market cap 5.29%
Second Best
Industrial
$535.3K
$468.4K – $624.6K
NOI $37,473 @ 7.0% cap · market cap 2.50%
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,623 @ 7.0% cap · market cap 8.91%
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
225
Businesses Nearby
48k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 72%
Shops & Services 23%
Hotels & Casinos 5%
The Home Depot
Home Improvements & Furnishings
34,305 visits/mo
0.4 miles
Shell
Shops & Services
8,636 visits/mo
0.3 miles
Kangaroo Express
Shops & Services
2,563 visits/mo
0.3 miles
Holiday Inn Express Hotel & Suites
Hotels & Casinos
2,204 visits/mo
0.5 miles
Demographics for 34788, FL
19,409
Population
11,294
Households
1.7
Avg Household Size
58
Median Age
20%
College-Educated
91%
High-School Grad
36.1 sq mi
ZIP Area
538
Density / Sq Mi
$57,477
Median Household Income
$35,879
Median Earnings
$1,384
Median Rent
$168,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Sunscreen Window Tinting — 11231 US-441, Tavares, FL 32778
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- Tenacious Towing Service — 10601 US-441, Leesburg, FL 34788
- Haines Creek Garage & Tire Center — 32416 County Rd 473, Leesburg, FL 34788
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive property under lease through 2033, producing $96,000 gross annual income paid bi-weekly.
Where is this auto shop located?
The property is located at 32416 COUNTY ROAD 473 Leesburg, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Automotive property under lease (real estate & equipment) generating $96,000 gross annual income paid bi‑weekly; Lease expires in 2033; Year built: 1984
