Move-In Ready Office Building with
For Sale
$1,100,000
901 GROVE STREET, Eustis, FL 32726
Vacant, move-in-ready professional office building with a new roof, three HVAC units, and solar power for energy efficiency.
Property Size4,665 SF
Price / SF$235.80
Days on Market31
Property Features for 901 GROVE STREET
General Information
Standard status
Active
Size
4,665 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$9,251
Amenities
solar energy system
break room
Central Air
72x165
City Road, Paved Road.
Building Details
Year Built
1977
Owner Occupied
No
Listing Agency:
GOYAL & DECOSTER REALTY
(407) 693-7403
Listed By:
Darrell DeLoatch · License #3313715
Source:
Xome
Added: Jul 24
Changed: Aug 23
Last Checked: Aug 22 at 6:59AM
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 GOYAL & DECOSTER REALTY
Investment Insights
Based on property information with market context.
Located at 901 N Grove St in Eustis, this professional office building was delivered vacant and move-in ready, with extensive capital improvements designed to reduce near-term expenditures. The layout includes multiple private offices in excellent condition, along with a professional plan suited to a variety of professional and medical-adjacent service operations.
Recent upgrades include a new roof, three new HVAC units, and a 20-kw solar energy system intended to improve energy efficiency. Interior and exterior updates include new flooring, paint, and updated cabinetry throughout, plus a dedicated employee break room. The space includes four office restrooms, as well as an additional full bathroom with a tiled shower.
Built in 1977, the building offers a flexible configuration for professional service firms and owner-users, with the ability to support investor plans through lease-up in the near term. BikeScore is 36 (somewhat bikeable) and WalkScore is 40 (car-dependent).
Recent upgrades include a new roof, three new HVAC units, and a 20-kw solar energy system intended to improve energy efficiency. Interior and exterior updates include new flooring, paint, and updated cabinetry throughout, plus a dedicated employee break room. The space includes four office restrooms, as well as an additional full bathroom with a tiled shower.
Built in 1977, the building offers a flexible configuration for professional service firms and owner-users, with the ability to support investor plans through lease-up in the near term. BikeScore is 36 (somewhat bikeable) and WalkScore is 40 (car-dependent).
Key Highlights
- New roof plus three new HVAC units
- 20‑kw solar energy system for improved energy efficiency
- Four office restrooms plus an additional full bathroom with tiled shower
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
$69,695
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
6.34%
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%
$1,393,900
$1.4M
Cap Rate 7%
$995,643
$995.6K
Cap Rate 9%
$774,389
$774.4K
Market Conditions
NOI Build-Up for 4,665 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
$112.0K $24.00/SF
− Vacancy
−$19.0K −$4.08/SF
EGI
$92.9K $19.92/SF
− OpEx
−$23.2K −$4.98/SF
NOI
$69.7K $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%
$1,393,900
Cap Rate 7%
$995,643
Cap Rate 9%
$774,389
Alternative Uses
Best Use
Office B
$995.6K
$871.2K – $1.16M
NOI $69,695 @ 7.0% cap · market cap 6.34%
Second Best
Healthcare Medical
$950.1K
$831.3K – $1.11M
NOI $66,504 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $92,927 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
415
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Vacant, move-in-ready professional office building with a new roof, three HVAC units, and solar power for energy efficiency.
Where is this office building located?
The property is located at 901 GROVE STREET Eustis, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: New roof plus three new HVAC units; 20‑kw solar energy system for improved energy efficiency; Four office restrooms plus an additional full bathroom with tiled shower
