Two-Building Office
For Sale
Contact for pricing
Pending
375 FENNELL BLVD, Lady Lake, FL 32159
Professional suites with existing NNN leases, full occupancy, paved road access, and proximity to retail, dining, and civic services.
Property Size7,120 SF
Days on Market57
Property Features for 375 FENNELL BLVD
General Information
Standard status
Pending
Size
7,120 SF
Total Parking Spaces
38
Property subtype
Office
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$19,026
Building Details
Building Size
7,120 SF
Year Built
2009
Buildings
2
Tenancy
Multi
Listing Agency:
MORRIS REALTY AND INVESTMENTS
Listed By:
Scott Strem · License #3106245
(352) 978-3428
Source:
Thefullerproperties
Added: Aug 24
Changed: Oct 8
Last Checked: Oct 16 at 5:17PM
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 MORRIS REALTY AND INVESTMENTS
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Investment Insights
Based on property information with market context.
This professional office property comprises two buildings totaling 7,970 square feet, with suites of approximately 1,200 square feet each. The tenant roster includes five professional occupants, and the property is reported at 100% occupancy under NNN leases. Built in 2009, the plaza includes central air and 38 parking spaces.
The property is located at 375 Fennell Boulevard in Lady Lake, next to the Lady Lake Post Office. Sam’s Club, Miller’s Ale House, and the PGA Superstore are identified nearby, with Spanish Springs Town Square also within the surrounding area. Access is provided by a city-maintained paved road.
The property is located at 375 Fennell Boulevard in Lady Lake, next to the Lady Lake Post Office. Sam’s Club, Miller’s Ale House, and the PGA Superstore are identified nearby, with Spanish Springs Town Square also within the surrounding area. Access is provided by a city-maintained paved road.
Key Highlights
- 7,970‑square‑foot office property configured in two buildings
- 100% occupied with NNN leases in place
- Five professional tenants across the two‑building plaza
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$106,373
Cap Rate
4.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,127,460
$2.1M
Cap Rate 7%
$1,519,614
$1.5M
Cap Rate 9%
$1,181,922
$1.2M
Market Conditions
NOI Build-Up for 7,120 SF
Gross rent
$170.9K $24.00/SF
− Vacancy
−$29.0K −$4.08/SF
EGI
$141.8K $19.92/SF
− OpEx
−$35.5K −$4.98/SF
NOI
$106.4K $14.94/SF
Area
Lake County, FL
Vacancy
17.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,127,460
Cap Rate 7%
$1,519,614
Cap Rate 9%
$1,181,922
Alternative Uses
Best Use
Office B
$1.52M
$1.33M – $1.77M
NOI $106,373 @ 7.0% cap · market cap 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.03M
$1.77M – $2.36M
NOI $141,830 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
544
Businesses Nearby
Explore this area
Business Placement
Demographics for 32159, FL
30,455
Population
19,670
Households
1.5
Avg Household Size
69
Median Age
29%
College-Educated
95%
High-School Grad
30.2 sq mi
ZIP Area
1,008
Density / Sq Mi
$57,536
Median Household Income
$30,723
Median Earnings
$1,370
Median Rent
$272,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Professional suites with existing NNN leases, full occupancy, paved road access, and proximity to retail, dining, and civic services.
Where is this office building located?
The property is located at 375 FENNELL BLVD Lady Lake, FL.
What is the asking price?
The asking price for this property is $2,459,000.
What are key features of this property?
This property features: 7,970‑square‑foot office property configured in two buildings; 100% occupied with NNN leases in place; Five professional tenants across the two‑building plaza
