Two-Unit Duplex with Vacant
For Sale
$429,000
325 S 2ND STREET, Leesburg, FL 34748
One residence is occupied through May 31, 2027, while the other is available for leasing or owner occupancy.
Property Size2,186 SF
Price / SF$196.25
Days on Market54
Property Features for 325 S 2ND STREET
General Information
Standard status
Active
Size
2,186 SF
Property subtype
Half Duplex
Building Details
Year Built
1910
Listing Agency:
CENTURY 21 CARIOTI
(407) 770-0322
Listed By:
Cam Carter · License #3522292
(407) 376-1001
Source:
Dennisrealty
Added: Sep 14
Changed: Nov 5
Last Checked: Nov 4 at 4:14PM
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 CENTURY 21 CARIOTI
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Investment Insights
Based on property information with market context.
This duplex contains two residential units totaling 2,186 square feet, with a combined configuration of 4 bedrooms and 4 bathrooms. Central A/C serves the property, and parking is provided by a driveway along with on-street spaces. The 6,500-square-foot lot carries R-2 zoning.
One unit is tenant occupied through May 31, 2027, while the second unit is vacant and available for a new tenant or owner occupant. Residents are responsible for their own utilities. The property is located at 325 S 2nd Street in Leesburg, near Downtown Leesburg, local dining, shopping, entertainment, Venetian Gardens, and the Ski Beach recreational area.
One unit is tenant occupied through May 31, 2027, while the second unit is vacant and available for a new tenant or owner occupant. Residents are responsible for their own utilities. The property is located at 325 S 2nd Street in Leesburg, near Downtown Leesburg, local dining, shopping, entertainment, Venetian Gardens, and the Ski Beach recreational area.
Key Highlights
- 2,186 SF duplex with 4 bedrooms and 4 bathrooms
- Two residential units with one currently vacant
- Occupied unit has tenancy through May 31, 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,156
Cap Rate
6.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$583,120
$583.1K
Cap Rate 7%
$416,514
$416.5K
Cap Rate 9%
$323,956
$324.0K
Market Conditions
NOI Build-Up for 2,186 SF
Gross rent
$44.6K $20.40/SF
− Vacancy
−$2.9K −$1.35/SF
EGI
$41.7K $19.05/SF
− OpEx
−$12.5K −$5.72/SF
NOI
$29.2K $13.34/SF
Area
Lake County, FL
Vacancy
6.60%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$583,120
Cap Rate 7%
$416,514
Cap Rate 9%
$323,956
Alternative Uses
Best Use
Multifamily LT 5
$416.5K
$364.5K – $485.9K
NOI $29,156 @ 7.0% cap · market cap 6.80%
Second Best
Apartment 5plus
$383.5K
$335.6K – $447.4K
NOI $26,845 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$622.1K
$544.3K – $725.8K
NOI $43,545 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,498
Businesses Nearby
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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
$226,200
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Lake County, FL
Properties on Market for Duplexes in Lake County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - One residence is occupied through May 31, 2027, while the other is available for leasing or owner occupancy.
Where is this duplex located?
The property is located at 325 S 2ND STREET Leesburg, FL.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: 2,186 SF duplex with 4 bedrooms and 4 bathrooms; Two residential units with one currently vacant; Occupied unit has tenancy through May 31, 2027
