Building Details

Building Size 25,000 SF

Year Built 1990

Listed By: Steve Fusilier · License #FL 261073090 Show Phone

Source: Elliman

Added: Mar 10 Changed: Sep 30 Last Checked: Oct 9 at 9:12PM

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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 Steve Fusilier

Investment Insights

Based on property information with market context.

This property features a 25,000 SF warehouse situated on approximately 8 acres, including 2 acres of paved area. The warehouse offers 20,000 SF of warehouse space and 5,000 SF of office space. It is zoned PD - AG, permitting Agriculture Uses and LIMITED Industrial Uses. The warehouse includes 8 dock-high doors with 12' roll-up doors and 4 drive-in doors also with 12' roll-up doors. It has a 19' clear height with 50' column spacing and block construction. The office space is equipped with multiple private offices, a large open workspace, 2 conference rooms, a reception area, a kitchen, and 4 bathrooms. The location provides quick access to Hwy 429, Hwy 44, and the upcoming Round Lake Rd Extension. It is also in close proximity to I-4 (less than 16 miles), the Turnpike (less than 25 miles), Orlando (less than 35 miles), and Disney (less than 41 miles).

Key Highlights

• 25,000 SF warehouse on +/-8 acres with 2 acres of paved area.
• Zoned PD - AG allowing Agriculture Uses and LIMITED Industrial Uses.
• 20,000 SF of warehouse space and 5,000 SF of office space.**

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$169,583

Cap Rate

7.54%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $373,500 @ 7.0% cap · market cap 16.60%

Second Best

Warehouse

$2.42M

$2.12M – $2.83M (±1% cap)

NOI $169,583 @ 7.0% cap · market cap 7.54%

Theoretical Best

Office A

$7.11M

$6.23M – $8.30M (±1% cap)

NOI $498,000 @ 7.0% cap · market cap 22.13%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Office Units

Suggested Use

Top Pick HVAC Service Garden Center Veterinary Clinic Hotel & Motel

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

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What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Warehouse - 25,000 SF warehouse on 8 acres near major highways.

Where is this warehouse located?

The property is located at 34135 CARDINAL Eustis, FL.

What is the asking price?

The asking price for this property is $2,250,000.

What are key features of this property?

This property features: 25,000 SF warehouse on +/-8 acres with 2 acres of paved area.; Zoned PD - AG allowing Agriculture Uses and LIMITED Industrial Uses.; 20,000 SF of warehouse space and 5,000 SF of office space.**