Lakefront Mixed-Use
New
For Sale
$625,000
400 LAKESHORE, Eustis, FL 32726
A two-bedroom residence sits above a garage and workshop, with dock access on Lake Eustis.
Property Size1,628 SF
Days on Market4
Property Features for 400 LAKESHORE
General Information
Standard status
Active
Size
1,628 SF
Property subtype
Commercial
Zoning
P/I
Taxes and HOA fees
Annual Taxes
$1,293
Amenities
private boat dock with boat hoist
additional dock
garage bay
workshop area
apartment
Building Details
Building Size
1,628 SF
Year Built
1963
Listed By:
BJ Atkins, III
(352) 267-8631
Source:
Elliman
Added: Sep 24
Last Checked: Sep 26 at 10:21AM
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 BJ Atkins, III
Investment Insights
Based on property information with market context.
Built in 1963, this mixed-use property combines a lower-level garage bay and workshop with an apartment. The upper floor contains a two-bedroom, one-bath living area. Two docks provide water access; one includes a boat hoist, and the other can accommodate additional boats. The property is zoned P/I.
On Lake Eustis in Eustis, Florida, the site adjoins a city-maintained public boat ramp. Waterfront restaurants and downtown Eustis are nearby, along with dining, breweries, theaters, salons, boutiques, shopping and local events.
On Lake Eustis in Eustis, Florida, the site adjoins a city-maintained public boat ramp. Waterfront restaurants and downtown Eustis are nearby, along with dining, breweries, theaters, salons, boutiques, shopping and local events.
Key Highlights
- Two‑bedroom, one‑bath living area on the upper floor
- Lower‑level garage bay, workshop and apartment
- Two docks; one has a boat hoist
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
$24,322
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
3.89%
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%
$486,440
$486.4K
Cap Rate 7%
$347,457
$347.5K
Cap Rate 9%
$270,244
$270.2K
Market Conditions
NOI Build-Up for 1,628 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
$39.1K $24.00/SF
− Vacancy
−$6.6K −$4.08/SF
EGI
$32.4K $19.92/SF
− OpEx
−$8.1K −$4.98/SF
NOI
$24.3K $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 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%
$486,440
Cap Rate 7%
$347,457
Cap Rate 9%
$270,244
Alternative Uses
Best Use
Office B
$347.5K
$304.0K – $405.4K
NOI $24,322 @ 7.0% cap · market cap 3.89%
Second Best
Mixed Use
$307.0K
$268.6K – $358.2K
NOI $21,490 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$463.3K
$405.4K – $540.5K
NOI $32,430 @ 7.0% cap · market cap 5.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
372
Businesses Nearby
Explore this area
Business Placement
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A two-bedroom residence sits above a garage and workshop, with dock access on Lake Eustis.
Where is this mixed-use property located?
The property is located at 400 LAKESHORE Eustis, FL.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Two‑bedroom, one‑bath living area on the upper floor; Lower‑level garage bay, workshop and apartment; Two docks; one has a boat hoist
