Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    1421 Griffin Rd Leesburg, FL 34748-3410
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1421 Griffin Rd Leesburg, FL 34748-3410

    View on Map
    • Warehouses
    • 2,432 SF
    • 1.58 lot acres
    Off-Market
    Last Sale Jan 22, 2024
    $409,000
    Property ID
    US18-5031520
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Sollar Autos Group / Car Dealership

    Property Details for 1421 Griffin Rd

    Year built
    1961
    Construction
    CONCRETE BLOCKS
    Lot size
    1.58 lot acres
    Property size
    2,432 SF
    Property type
    Warehouses
    APN
    22-19-24-0001-000-00200
    APU
    221924000100000200

    Description

    This exceptional commercial property in Leesburg, Florida, presents a unique investment opportunity. Located just off US 27, this high-visibility site boasts a combined 2.73 acres encompassing two parcels: 1421 Griffin Road and 1226 Penn Street. Both parcels are zoned C-3, offering considerable flexibility for development or continued operation. The Griffin Road parcel features a 660 square foot building with a restroom, break room/storage, and a spacious main retail area with large windows, all climate-controlled. The property is fully fenced and includes ample parking. The Penn Street parcel, currently operating as an auto repair shop, sits on approximately 2 acres and is fully enclosed by a chain link fence. Its 1,364 square foot building includes three bays with metal roll-up doors, two hydraulic lifts, an office, a handicap-accessible restroom, and two storage areas. A substantial metal roof and a large (21x76 foot) awning provide excellent weather protection. This property offers the potential for continued operation of the existing businesses, redevelopment of the existing structures, or complete demolition to construct new buildings. The high visibility and convenient location make this a truly compelling investment opportunity. The combined square footage of both buildings is 2,024 square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Leesburg
    County
    Lake
    State
    Florida
    Longitude
    -81.889
    Latitude
    28.8281
    CBSA code
    36740
    CBSA name
    ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $4,215
    $0.00
    $0.00
    $267,880
    -
    $201,167
    $66,713
    $267,880

    Comparable in this City

    • Value Estimation
      $2,825,000
      48,632 SF

      501 Mccormack St

      WAREHOUSE, STORAGE • 48,632 SF
      501 Mccormack St, Leesburg, FL 34748-4732
      View Details
    • Value Estimation by Request
      1,976 SF

      164 Park Ctr St

      WAREHOUSE, STORAGE • 1,976 SF
      164 Park Ctr St, Leesburg, FL 34748-4670
      View Details
    • Value Estimation by Request
      1,976 SF

      172 Park Ctr St

      WAREHOUSE, STORAGE • 1,976 SF
      172 Park Ctr St, Leesburg, FL 34748-4670
      View Details
    • Value Estimation by Request
      5,879 SF

      1227 Commerce St

      WAREHOUSE, STORAGE • 5,879 SF
      1227 Commerce St, Leesburg, FL 34748-3638
      View Details
    • Value Estimation
      $4,010,000
      53,268 SF

      1904 Greenleaf Ln

      WAREHOUSE, STORAGE • 53,268 SF
      1904 Greenleaf Ln, Leesburg, FL 34748-2022
      View Details
    • Value Estimation
      $8,420,000
      50,060 SF

      2339 14th St

      WAREHOUSE, STORAGE • 50,060 SF
      2339 14th St, Leesburg, FL 34748-9006
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      90,500 SF

      Leesburg Industrial Building For Sale

      90,500 SF industrial building on 7.55 acres in Leesburg, FL.
      3301 W Main St, Leesburg, FL 34748
      View Details
    • $525,000
      2,379 SF

      Corner Property on South Street

      Mixed-use property with frontage on SR 44 in Leesburg.
      2405 South St, Leesburg, FL 34748
      View Details

    Similar Nearby for Lease

    • $2,400 /Mo
      1,976 SF

      Leesburg Mixed-Use Office/Warehouse Facility

      Office/warehouse with mixed-use potential in Leesburg Commerce Park.
      2848 W Main St, Leesburg, FL 34748
      View Details
    • $122,040
      10,170 SF

      Leesburg Warehouse Space Available

      Warehouse space for lease in Leesburg, Florida.
      1818 Greenleaf Ln, Leesburg, FL 34748
      View Details
    • $53,900

      Leesburg Warehouse and Office Space

      Warehouse and office units with secure storage yard for lease.
      300 Richey Rd, Leesburg, FL 34748
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1421 Griffin Rd
    Leesburg, FL 34748-3410
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!