Medical Office in Eustis
801 N BAY St, Eustis, FL 32726
For Sale
$840,000
Pending
Professional medical office space for sale in Eustis, Florida.
Property Size3,158 SF
Lot Size0.53 Acres
Days on Market246
Property Features for 801 N BAY St
General Information
Standard status
Size
Lot size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Listing Agency:
RealTeam Realty Inc
Listed By:
Trish Leisner · License FL #3185853
(352) 267-6216
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 2:20PM
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 RealTeam Realty Inc
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Investment Insights
Based on property information with market context.
This medical professional office is situated directly on S US Hwy 19 (Bay Street) & E. Wilt Avenue, within the Eustis Central Business District. The property occupies a half-acre lot and includes 21 parking spaces. Recent updates include a new roof in 2024 and AC units in 2023, with remodeling completed in 2022 encompassing flooring and interior/exterior painting. Originally built in 1982, the property underwent a major renovation, establishing an effective year of 2004. The layout features a shared reception and front work area, with the back offices divided into nearly identical sides, presenting an opportunity to occupy one side and lease out the other. Owner parking is located behind the building, and each unit has two separate metal doors for access and a security system. Additional amenities include a 2-car metal carport. The property's corner location facilitates easy access, with entry and exit points from Wilt Ave or directly on Bay Street. The back half of the building is symmetrically designed to create two offices, each featuring a consultation room, 3 exam rooms, a minor procedure room, a nurses station, a scale designated area, dressing areas, and 2 individual restrooms, along with a private entrance for the professional. Shared front areas include a staff lounge, work room, chart room laboratory, x-ray facilities, reception area, waiting area, and ample storage. The property is well-maintained and ready for immediate occupancy by one or more professionals.
Key Highlights
- Prime location directly on S US Hwy 19 (Bay Street) in the Eustis Central Business District with easy access from two streets.
- Recent renovations (2022‑2024) including new roof, AC units, flooring, and interior/exterior paint.
- Flexible layout suitable for owner‑occupancy and leasing potential with two identical office sides.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,356
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$867,120
$867.1K
Cap Rate 7%
$619,371
$619.4K
Cap Rate 9%
$481,733
$481.7K
Market Conditions
NOI Build-Up for 3,158 SF
Gross rent
$79.6K $25.20/SF
− Vacancy
−$7.3K −$2.32/SF
EGI
$72.3K $22.88/SF
− OpEx
−$28.9K −$9.15/SF
NOI
$43.4K $13.73/SF
Area
Lake County, FL
Vacancy
9.20%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$867,120
Cap Rate 7%
$619,371
Cap Rate 9%
$481,733
Alternative Uses
Best Use
Healthcare Medical
$619.4K
$542.0K – $722.6K
NOI $43,356 @ 7.0% cap · market cap 5.16%
Second Best
Office B
$607.8K
$531.8K – $709.1K
NOI $42,546 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$1.02M
$891.0K – $1.19M
NOI $71,282 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
668
Businesses Nearby
Balanced
Demand for This Use
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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
$230,400
Median Home Value
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Market
Average Price Trend$/SF for Medical Office Space in Lake County, FL
Properties on Market for Medical Office Space in Lake County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Professional medical office space for sale in Eustis, Florida.
Where is this medical office space located?
The property is located at 801 N BAY St Eustis, FL.
What is the asking price?
The asking price for this property is $840,000.
What are key features of this property?
This property features: Prime location directly on S US Hwy 19 (Bay Street) in the Eustis Central Business District with easy access from two streets.; Recent renovations (2022‑2024) including new roof, AC units, flooring, and interior/exterior paint.; Flexible layout suitable for owner‑occupancy and leasing potential with two identical office sides.
