Warehouse with Office
For Sale
$2,750,000
34135 Cardinal Lane EUSTIS, Eustis, FL 32736
PD - AG zoning supports agriculture and limited industrial uses.
Property Size25,000 SF
Lot Size8.00 Acres
Price / SF$110
Days on Market57
Property Features for 34135 Cardinal Lane EUSTIS
General Information
Standard status
Active
Size
25,000 SF
Lot size
8.00 Acres
Zoning
PD - AG
Warehouse & Industrial
Clear Height
19 ft
Warehouse Space
20,000 SF
Office Build-Out
5,000 SF
Dock-High Doors
8
Drive-In Doors
4
Column Spacing
50 ft
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$24,650
Amenities
Private Offices
Large Open Workspace
Conference Rooms
Reception Area
Kitchen
Bathrooms
Public Records
true
8
false
Paved
Slab
County Road
25000
1
Building Details
Building Size
25,000 SF
Year Built
1990
Buildings
1
Construction
block
Listing Agency:
(407) 890-1354
Listed By:
Kari Fleck
(407) 890-1354
Source:
Therealestatecollection
Added: Jul 6
Changed: Aug 30
Last Checked: Aug 30 at 1:34PM
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 Kari Fleck
Investment Insights
Based on property information with market context.
This 25,000-square-foot warehouse property occupies approximately 8 acres, including 2 acres of paved area. The facility contains 20,000 square feet of warehouse area and 5,000 square feet of office area within a block-built structure completed in 1990. Warehouse specifications include 8 dock-high doors with 12-foot roll-up doors, 4 drive-in doors with 12-foot roll-up doors, 19-foot clear height, and 50-foot column spacing.
The office layout includes private offices, an open work area, 2 conference rooms, a reception area, a kitchen, and 4 bathrooms. Zoning is PD - AG, supporting agriculture uses and limited industrial uses. The property is on County Road in Eustis, with access to Hwy 429 and Hwy 44, as well as the upcoming Round Lake Road Extension. I-4 is less than 16 miles away, the Turnpike is less than 25 miles away, Orlando is less than 35 miles away, and Disney is less than 41 miles away.
The office layout includes private offices, an open work area, 2 conference rooms, a reception area, a kitchen, and 4 bathrooms. Zoning is PD - AG, supporting agriculture uses and limited industrial uses. The property is on County Road in Eustis, with access to Hwy 429 and Hwy 44, as well as the upcoming Round Lake Road Extension. I-4 is less than 16 miles away, the Turnpike is less than 25 miles away, Orlando is less than 35 miles away, and Disney is less than 41 miles away.
Key Highlights
- 25,000 SF facility on +/-8 acres, including 2 acres of paved area
- 20,000 SF warehouse area and 5,000 SF office area
- 8 dock‑high doors and 4 drive‑in doors, all with 12' roll‑up doors
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
$169,583
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
6.17%
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%
$3,391,660
$3.4M
Cap Rate 7%
$2,422,614
$2.4M
Cap Rate 9%
$1,884,256
$1.9M
Market Conditions
NOI Build-Up for 25,000 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
$219.0K $8.76/SF
− Vacancy
−$19.5K −$0.78/SF
EGI
$199.5K $7.98/SF
− OpEx
−$29.9K −$1.20/SF
NOI
$169.6K $6.78/SF
Area
Lake County, FL
Vacancy
8.90%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
15.00%
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%
$3,391,660
Cap Rate 7%
$2,422,614
Cap Rate 9%
$1,884,256
Alternative Uses
Best Use
Office B
$5.34M
$4.67M – $6.23M
NOI $373,500 @ 7.0% cap · market cap 13.58%
Second Best
Warehouse
$2.42M
$2.12M – $2.83M
NOI $169,583 @ 7.0% cap · market cap 6.17%
Theoretical Best
Office A
$7.11M
$6.23M – $8.30M
NOI $498,000 @ 7.0% cap · market cap 18.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
19 ft
Clear height
8
Dock-high doors
4
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32736, FL
11,412
Population
4,445
Households
2.6
Avg Household Size
46
Median Age
22%
College-Educated
90%
High-School Grad
109.1 sq mi
ZIP Area
105
Density / Sq Mi
$83,727
Median Household Income
$46,408
Median Earnings
$1,136
Median Rent
$352,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - PD - AG zoning supports agriculture and limited industrial uses.
Where is this warehouse located?
The property is located at 34135 Cardinal Lane EUSTIS Eustis, FL.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 25,000 SF facility on +/-8 acres, including 2 acres of paved area; 20,000 SF warehouse area and 5,000 SF office area; 8 dock‑high doors and 4 drive‑in doors, all with 12' roll‑up doors
