Mixed-Use Building with
New
For Sale
$1,550,000
427 N DONNELLY, Mount Dora, FL 32757
Two levels combine a ground-floor commercial area with an upstairs apartment and separate exterior access points.
Property Size4,646 SF
Days on Market4
Property Features for 427 N DONNELLY
General Information
Standard status
Active
Size
4,646 SF
Total Parking Spaces
3
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$12,712
Building Details
Building Size
4,646 SF
Year Built
1910
Buildings
1
Listing Agency:
Dave Lowe Realty
(352) 383-7104
Listed By:
Nova Fuller · License #3082499
(352) 383-7104
Source:
Elliman
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 15 at 8:59AM
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 Dave Lowe Realty
Investment Insights
Based on property information with market context.
Built in 1910, this mixed-use property combines a ground-floor storefront with an upstairs apartment. The commercial level can accommodate retail, gallery, boutique, professional service, or studio use, while the upper level provides residential space or an opportunity for additional commercial configuration. Interior and exterior stairways support separate access between the two levels, including a private sidewalk entry.
The building is located at 427 N Donnelly in downtown Mount Dora, near shops, dining, and year-round events. A rear alley provides off-street access to the property, along with three dedicated parking spaces and a gated rear entrance. The layout can function as separate commercial and residential areas or as a unified mixed-use operation.
The building is located at 427 N Donnelly in downtown Mount Dora, near shops, dining, and year-round events. A rear alley provides off-street access to the property, along with three dedicated parking spaces and a gated rear entrance. The layout can function as separate commercial and residential areas or as a unified mixed-use operation.
Key Highlights
- 1910 construction with ground‑floor storefront and upstairs apartment
- Three dedicated parking spaces accessed from the rear alley
- Private sidewalk entry plus interior and two exterior stairways
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
$69,411
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
4.48%
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%
$1,388,220
$1.4M
Cap Rate 7%
$991,586
$991.6K
Cap Rate 9%
$771,233
$771.2K
Market Conditions
NOI Build-Up for 4,646 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
$111.5K $24.00/SF
− Vacancy
−$19.0K −$4.08/SF
EGI
$92.5K $19.92/SF
− OpEx
−$23.1K −$4.98/SF
NOI
$69.4K $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 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%
$1,388,220
Cap Rate 7%
$991,586
Cap Rate 9%
$771,233
Alternative Uses
Best Use
Office B
$991.6K
$867.6K – $1.16M
NOI $69,411 @ 7.0% cap · market cap 4.48%
Second Best
Mixed Use
$876.1K
$766.6K – $1.02M
NOI $61,327 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,548 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,101
Businesses Nearby
Explore this area
Business Placement
Demographics for 32757, FL
30,315
Population
14,625
Households
2.1
Avg Household Size
49
Median Age
36%
College-Educated
92%
High-School Grad
35.3 sq mi
ZIP Area
859
Density / Sq Mi
$73,327
Median Household Income
$40,565
Median Earnings
$1,474
Median Rent
$325,800
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 - Two levels combine a ground-floor commercial area with an upstairs apartment and separate exterior access points.
Where is this mixed-use property located?
The property is located at 427 N DONNELLY Mount Dora, FL.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 1910 construction with ground‑floor storefront and upstairs apartment; Three dedicated parking spaces accessed from the rear alley; Private sidewalk entry plus interior and two exterior stairways
