Live-Work Compound with
32420 County Road 473 Leesburg, FL 34788
32420 County Road 473, Leesburg, FL, 34788
$1,600,000
For Sale
$1,600,000
Zoned Planned Commercial, the property includes two climate-controlled buildings plus a residence and carport accessed via Ironwood Ave.
Property Size4,098 SF
Price / SF$390.43
Days on Market102
Property Features for 32420 County Road 473
General Information
- Standard status
- Active
- Size
- 4,098 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 2009
Listing agency
FLORIDA REAL ESTATE GROWTH SERVICES
(352) 455-4228
Listed by
Lee Johnson
Source
Xome
Added: Apr 12 Updated: Jul 22 at 3:35PM Checked: Jul 22 at 3:35PM
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
Investment Insights
Based on property information with market context.
This live-work compound is currently used as the seller’s primary residence and is zoned Planned Commercial (CP). The property includes two large climate-controlled buildings, along with a 2,624-square-foot residence, mother-in-law quarters, a 5-car carport, and a small utility building used for laundry. A stocked fish pond is also located on the property.
Legal access is from Ironwood Ave. The site is described as centrally located in Lake County and is stated to be close to Leesburg Airport and shopping and dining.
The layout is suited for an operator seeking a property with multiple company vehicles and both work and residential space on-site, supported by the presence of climate-controlled warehouse buildings and adjacent structures.
Legal access is from Ironwood Ave. The site is described as centrally located in Lake County and is stated to be close to Leesburg Airport and shopping and dining.
The layout is suited for an operator seeking a property with multiple company vehicles and both work and residential space on-site, supported by the presence of climate-controlled warehouse buildings and adjacent structures.
Key Highlights
- Zoned Planned Commercial (CP) and currently used as the seller’s primary residence
- Two large climate‑controlled buildings plus a 2,624 sq.ft residence
- Includes mother‑in‑law quarters and a stocked fish pond on the property
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $98.4k | $24.00 |
| − Vacancy | −$16.7k | −$4.08 |
| EGI | $81.6k | $19.92 |
| − OpEx | −$20.4k | −$4.98 |
| NOI | $61.2k | $14.94 |
4,098 SF · lease $24.00/SF/yr · vacancy 17.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$874.6K
$765.3K – $1.02M
NOI $61,224 @ 7.0% cap · market cap 3.83%
Second Best
Mixed Use
$772.8K
$676.2K – $901.6K
NOI $54,094 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,632 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Live-work space
Similar For Sale Nearby
FAQs
What type of property is this?
Live-work space - Zoned Planned Commercial, the property includes two climate-controlled buildings plus a residence and carport accessed via Ironwood Ave.
Where is this live-work space located?
The property is located at 32420 County Road 473 Leesburg, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Zoned Planned Commercial (CP) and currently used as the seller’s primary residence; Two large climate‑controlled buildings plus a 2,624 sq.ft residence; Includes mother‑in‑law quarters and a stocked fish pond on the property
