Eustis Retail Strip
For Sale
Contact for pricing
355 Plaza Dr, Eustis, FL 32726
35,722 SF retail strip center on 7.47 acres.
Property Size35,722 SF
Lot Size7.47 Acres
Price / SF$139.97
Days on Market677
Property Features for 355 Plaza Dr
General Information
Standard status
Active
Size
35,722 SF
Lot size
7.47 Acres
Property subtype
Retail
Zoning
C-2
Investment Type
Value Add
Building Details
Year Built
1968
Year Renovated
2016
Units
12
Tenancy
Multi
Listing Agency:
Glixus Trust
(407) 949-0898
Listed By:
Sean Glickman,CCIM · License #SL3159726
Source:
Crexi
Added: Oct 15, 2024
Changed: Aug 21
Last Checked: Aug 21 at 10:09AM
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 Glixus Trust
Investment Insights
Based on property information with market context.
This commercial property features a 35,722 square foot strip center situated on a 7.47-acre lot. Constructed in 1968, the property includes three separate buildings and a pylon sign. It offers 194 surface parking spaces. The property has frontage on Plaza Drive (428 feet) and Ruleme Street (345 feet). Zoned C-2, the land use is GC (General Commercial), allowing for a FAR up to 2.5 and a maximum building height of 35 feet. The buildable area with ample parking covers 50% of the lot. The zoning permits a wide range of uses, with potential for new retail or medical space up to 162,780 square feet, plus multifamily development above.
Key Highlights
- High‑potential retail/medical space: 162,780 SF buildable
- Large lot size: 7.47 acres (325,560 SF)
- Favorable zoning: C‑2 (General Commercial) with FAR up to 2.5 and 35’ max building height
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
$422,641
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
8.45%
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%
$8,452,820
$8.5M
Cap Rate 7%
$6,037,729
$6.0M
Cap Rate 9%
$4,696,011
$4.7M
Market Conditions
NOI Build-Up for 35,722 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
$643.0K $18.00/SF
− Vacancy
−$39.2K −$1.10/SF
EGI
$603.8K $16.90/SF
− OpEx
−$181.1K −$5.07/SF
NOI
$422.6K $11.83/SF
Area
Lake County, FL
Vacancy
6.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$8,452,820
Cap Rate 7%
$6,037,729
Cap Rate 9%
$4,696,011
Alternative Uses
Best Use
Retail
$6.04M
$5.28M – $7.04M
NOI $422,641 @ 7.0% cap · market cap 8.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.17M
$8.89M – $11.86M
NOI $711,582 @ 7.0% cap · market cap 14.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
810
Businesses Nearby
267k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Shops & Services 24%
Superstores 10%
Home Improvements & Furnishings 9%
McDonald's
Dining
31,875 visits/mo
0.3 miles
RaceTrac
Shops & Services
29,883 visits/mo
0.3 miles
Big Lots
Superstores
26,934 visits/mo
0.1 miles
Tractor Supply Co.
Home Improvements & Furnishings
21,776 visits/mo
0.3 miles
Ollie's Bargain Outlet
Shops & Services
17,535 visits/mo
0.2 miles
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Ok Auto Sales Eustis Fl — Ruleme St, Eustis, FL 32726
Frequently Asked Questions
What type of property is this?
Shopping center - 35,722 SF retail strip center on 7.47 acres.
Where is this shopping center located?
The property is located at 355 Plaza Dr Eustis, FL.
What is the asking price?
The asking price for this property is $4,999,999.
What are key features of this property?
This property features: High‑potential retail/medical space: **162,780 SF buildable**; Large lot size: 7.47 acres (325,560 SF); Favorable zoning: C‑2 (General Commercial) with FAR up to 2.5 and 35’ max building height
