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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2240 Citrus Blvd Leesburg, FL 34748-3009

    • Retail properties
    • 5,216 SF
    • 0.85 lot acres
    OFF-MARKET
    Last Sale
    Jan 08, 2021
    $1,409,300
    Value Estimations
    $1,105,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4837627
    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.

    Current Use by Public Records

    • Tires Plus / Tire Shop / Car Battery Store

    Property Details for 2240 Citrus Blvd

    Year built
    1996
    Construction
    CONCRETE BLOCKS
    Lot size
    0.85 lot acres
    Property size
    5,216 SF
    Property type
    Retail properties
    APN
    15-19-24-0150-002-00100
    APU
    151924015000200100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,160,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $948,000
      Market price range: $348k - $1.26M
      AI Estimate
      $948,000
      Market price range: $348k - $1.26M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,535,000
      COMMERCIAL (GENERAL)
      $1,225,000
      AUTO REPAIR, GARAGE
      $1,220,000
      OFFICE BUILDING
      $745,000
      RETAIL STORES
      $720,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Leesburg
    County
    Lake
    State
    Florida
    Longitude
    -81.8949
    Latitude
    28.8423
    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
    $11,178
    $0.00
    $0.00
    $679,408
    -
    $370,178
    $309,230
    $679,408

    Comparable in this City

    • Value Estimation by Request
      2,000 SF

      1410 Bryant St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,000 SF
      1410 Bryant St, Leesburg, FL 34748-6602
      View Details
    • Value Estimation by Request
      2,806 SF

      710 14Th St

      Office Properties & Spaces • 2,806 SF
      710 14Th St, Leesburg, FL 34748
      View Details
    • Value Estimation by Request
      4,300 SF

      31835 Executive Blvd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 4,300 SF
      31835 Executive Blvd, Leesburg, FL 34748-8735
      View Details
    • Value Estimation by Request
      1,835 SF

      1330 14th St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 1,835 SF
      1330 14th St, Leesburg, FL 34748-3409
      View Details
    • Value Estimation by Request
      3,280 SF

      2408 Virginia Dr

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 3,280 SF
      2408 Virginia Dr, Leesburg, FL 34748-4120
      View Details
    • Value Estimation
      $525,000
      6,159 SF

      1009 14th St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 6,159 SF
      1009 14th St, Leesburg, FL 34748-6616
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.00 Acre

      Leesburg Retail Outparcel Opportunity

      High-traffic location, 1-acre outlot.
      1715 Citrus Blvd, Leesburg, FL 34748
      View Details
    • $13,050,000
      4,888 SF

      New 7-Eleven NNN Lease

      New construction 7-Eleven with a long-term NNN lease.
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    • $525,000
      1.60 Acres

      Prime Highway Frontage Land Parcel

      1.68 acres with highway frontage near LRMC and downtown Leesburg.
      441 E Us Hwy Blvd NORTH, Leesburg, FL 34748
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    • New
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    • $3,800,000
      23,630 SF

      Leesburg Medical Facility on 6 Acres

      23,630 SF medical facility on 6.04 acres in Leesburg, FL.
      2500 Citrus Blvd, Leesburg, FL 34748
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    • $2,950,000

      Leesburg Retail Plaza on US-441

      24,000+/- SF retail plaza on 1.48+/- acres for sale.
      2104 Us Highway 441, Leesburg, FL 34748
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    Similar Nearby for Lease

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      426,888 SF

      Leesburg Retail Land Opportunity

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    • Contact for pricing
      9,436 SF

      Leesburg Square Retail Space

      High-traffic retail space available.
      2241 Citrus Blvd, Leesburg, FL 34748
      View Details
    • Contact for pricing
      10,125 SF

      Leesburg Retail Space Available

      Prime Leesburg retail, multiple spaces.
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      14,550 SF

      Palm Plaza Retail Center: Leesburg, FL

      Three Suites Available, 2,250-8,883 SF
      715 14Th St, Leesburg, FL 34748
      View Details
    • $40,432

      Retail Space on US Highway

      Retail space available in Leesburg with highway frontage.
      25010 Ef /67, Leesburg, FL 34748
      View Details
    • Contact for pricing
      8,700 SF

      Retail Space in Growing Area

      High-visibility retail space with ample parking in Leesburg, Florida.
      911 S 14Th St, Leesburg, FL 34748
      View Details

    Property Visit Statistics

    • Visits by month
      1.0k
    • Visitors by month
      706
    • Avg Time on site
      43 min
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    Leesburg, FL 34748-3009
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    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
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