NNN Medical
For Sale
Contact for pricing
803 E Dixie Ave, Leesburg, FL 34748
Community Commercial-zoned healthcare property occupied by an Optum Health business with annual rent increases.
Property Size6,000 SF
Lot Size0.89 Acres
Price / SF$281.67
Days on Market101
Property Features for 803 E Dixie Ave
General Information
Standard status
Active
Size
6,000 SF
Total Parking Spaces
38
Lot size
0.89 Acres
Property subtype
Retail
Zoning
Community Commercial
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$129,526
Additional Details
Cap Rate
7.42%
Building Details
Year Built
1986
Year Renovated
1996
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
SRS Real Estate Partners Tampa
Listed By:
William Wamble · License #SL3257920
(813) 371-1079
Source:
Crexi
Added: Jul 8
Changed: Oct 11
Last Checked: Oct 14 at 11:54PM
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 SRS Real Estate Partners Tampa
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 6,000-square-foot medical property on 0.89 acres was built in 1986 and is occupied by an Optum Health business. The asset carries Community Commercial zoning and includes a corporate guarantee from UnitedHealth Group. Lease terms provide for 3% annual increases, supporting scheduled rent growth over the lease term.
Located at 803 E. Dixie Avenue in Leesburg, Florida, the property benefits from reported traffic of 29,500 vehicles per day. The surrounding area includes healthcare facilities and a new 49.5-acre mixed-use development. The tenant acquired the business in 2023, adding current operating context for an owner evaluating the property.
Located at 803 E. Dixie Avenue in Leesburg, Florida, the property benefits from reported traffic of 29,500 vehicles per day. The surrounding area includes healthcare facilities and a new 49.5-acre mixed-use development. The tenant acquired the business in 2023, adding current operating context for an owner evaluating the property.
Key Highlights
- 6,000 SF medical property on 0.89 acres
- Community Commercial zoning
- Corporate guarantee from UnitedHealth Group
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,640
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,792,800
$1.8M
Cap Rate 7%
$1,280,571
$1.3M
Cap Rate 9%
$996,000
$996.0K
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$144.0K $24.00/SF
− Vacancy
−$24.5K −$4.08/SF
EGI
$119.5K $19.92/SF
− OpEx
−$29.9K −$4.98/SF
NOI
$89.6K $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%
$1,792,800
Cap Rate 7%
$1,280,571
Cap Rate 9%
$996,000
Alternative Uses
Best Use
Office B
$1.28M
$1.12M – $1.49M
NOI $89,640 @ 7.0% cap · market cap 5.30%
Second Best
Healthcare Medical
$1.22M
$1.07M – $1.43M
NOI $85,536 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$1.71M
$1.49M – $1.99M
NOI $119,520 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
770
Businesses Nearby
Explore this area
Business Placement
Demographics for 34748, FL
45,481
Population
25,740
Households
1.8
Avg Household Size
60
Median Age
24%
College-Educated
90%
High-School Grad
39.4 sq mi
ZIP Area
1,154
Density / Sq Mi
$53,768
Median Household Income
$30,762
Median Earnings
$1,181
Median Rent
$226,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
NNN property - Community Commercial-zoned healthcare property occupied by an Optum Health business with annual rent increases.
Where is this nnn property located?
The property is located at 803 E Dixie Ave Leesburg, FL.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: 6,000 SF medical property on 0.89 acres; Community Commercial zoning; Corporate guarantee from UnitedHealth Group
