Retail and Office Building with
For Sale
Contact for pricing
353 PLAZA DR, Eustis, FL 32726
Ample parking and adaptable retail, office, or light industrial space with recent roof and AC updates.
Property Size35,722 SF
Price / SF$135.77
Days on Market96
Property Features for 353 PLAZA DR
General Information
Standard status
Active
Size
35,722 SF
Property subtype
Retail
Zoning
C-2
Lease Type
Gross
Investment Type
Value Add
Net Operating Income
$400,000
Building Details
Stories
1
Tenancy
Multi
Listing Agency:
Panther Capital Group
Listed By:
Guillermo de Nicolas · License #FL3440959
Source:
Crexi
Added: Jun 2
Changed: Sep 2
Last Checked: Aug 29 at 12:29AM
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 Panther Capital Group
Investment Insights
Based on property information with market context.
This property offers adaptable space configurations suited for retail, office, or light industrial uses, supported by ample parking. It also includes recent capital improvements, including new roofs and updated AC systems, helping reduce near-term building maintenance needs for an owner-operator or investor.
Located at 353 Plaza Dr in Eustis, Florida, the site is described as being positioned in a thriving growth corridor with strong local demand. The public remarks also note excellent traffic counts in the area, which can support visibility and customer access for a variety of tenant types.
From a tenant and operator standpoint, the flexibility of the available space can accommodate businesses that need a commercial location with convenient parking and climate-controlled improvements. For buyers, the seller states the property is anchored by long-standing tenants and presents an investor or owner-user opportunity, with the offering positioned as balancing stability and income while benefiting from prospects for long-term growth in the Central Florida market.
Located at 353 Plaza Dr in Eustis, Florida, the site is described as being positioned in a thriving growth corridor with strong local demand. The public remarks also note excellent traffic counts in the area, which can support visibility and customer access for a variety of tenant types.
From a tenant and operator standpoint, the flexibility of the available space can accommodate businesses that need a commercial location with convenient parking and climate-controlled improvements. For buyers, the seller states the property is anchored by long-standing tenants and presents an investor or owner-user opportunity, with the offering positioned as balancing stability and income while benefiting from prospects for long-term growth in the Central Florida market.
Key Highlights
- Ample parking for tenants and customers.
- Adaptable spaces for retail, office, or light industrial use.
- Recent capital improvements include new roofs.
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
$422,641
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
8.71%
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%
$8,452,820
$8.5M
Cap Rate 7%
$6,037,729
$6.0M
Cap Rate 9%
$4,696,011
$4.7M
Market Conditions
NOI Build-Up for 35,722 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
$643.0K $18.00/SF
− Vacancy
−$39.2K −$1.10/SF
EGI
$603.8K $16.90/SF
− OpEx
−$181.1K −$5.07/SF
NOI
$422.6K $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 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%
$8,452,820
Cap Rate 7%
$6,037,729
Cap Rate 9%
$4,696,011
Alternative Uses
Best Use
Retail
$6.04M
$5.28M – $7.04M
NOI $422,641 @ 7.0% cap · market cap 8.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.17M
$8.89M – $11.86M
NOI $711,582 @ 7.0% cap · market cap 14.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
810
Businesses Nearby
267k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Shops & Services 24%
Superstores 10%
Home Improvements & Furnishings 9%
McDonald's
Dining
31,875 visits/mo
0.3 miles
RaceTrac
Shops & Services
29,883 visits/mo
0.3 miles
Big Lots
Superstores
26,934 visits/mo
0.1 miles
Tractor Supply Co.
Home Improvements & Furnishings
21,776 visits/mo
0.3 miles
Ollie's Bargain Outlet
Shops & Services
17,535 visits/mo
0.2 miles
Demographics for 32726, FL
23,012
Population
11,168
Households
2.1
Avg Household Size
45
Median Age
21%
College-Educated
88%
High-School Grad
11.5 sq mi
ZIP Area
2,001
Density / Sq Mi
$60,750
Median Household Income
$37,197
Median Earnings
$1,027
Median Rent
$230,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Ample parking and adaptable retail, office, or light industrial space with recent roof and AC updates.
Where is this shopping center located?
The property is located at 353 PLAZA DR Eustis, FL.
What is the asking price?
The asking price for this property is $4,850,000.
What are key features of this property?
This property features: Ample parking for tenants and customers.; Adaptable spaces for retail, office, or light industrial use.; Recent capital improvements include new roofs.
