Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2404 Virginia Dr Leesburg, FL 34748-4102
    Back to Search
    Property profile & analytics

    2404 Virginia Dr, Leesburg, FL 34748-4102

    View on Map
    • Warehouses
    • 4,080 SF
    • 0.92 lot acres
    Off-Market
    Last Sale Nov 1, 2021
    $170,000
    Property ID
    US18-3661476
    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

    • DM Storages, LLC / Storage Facility

    Property Details for 2404 Virginia Dr

    Year built
    1983
    Construction
    CONCRETE BLOCKS
    Lot size
    0.92 lot acres
    Property type
    Warehouses
    APN
    21-19-24-0004-000-12901
    APU
    211924000400012901

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 1, 2021 $170,000 Dainus Monkevicius Frank Cipris JR Warranty Deed —
    Feb 5, 2016 — Cfm Warehouse Rentals LLC Cipris,frank J JR Warranty Deed —
    Jul 16, 2007 — Cipris Frank J JR Trust Cipris,frank J JR & Claire B Quit Claim Deed · related —
    — — Frank J Cipris — Deed Of Trust · related $85k · Citizens First Bank
    — — Frank J Cipris — Deed Of Trust · related $70k · Citizens First Bank

    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
    -81.9048
    Latitude
    28.8189
    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
    $4,454
    $0.00
    $0.00
    $319,528
    -
    $58,411
    $261,117
    $319,528

    Comparable in this City

    • Value Estimation
      $4,520,000
      61,250 SF

      1632 3rd St

      WAREHOUSE, STORAGE
      1632 3rd St, Leesburg, FL 34748-9176
      View Details
    • Value Estimation
      $905,000
      6,000 SF

      1806 Greenleaf Ln

      WAREHOUSE, STORAGE
      1806 Greenleaf Ln, Leesburg, FL 34748-2014
      View Details
    • Value Estimation by Request
      1,980 SF

      2120 Griffin Rd

      WAREHOUSE, STORAGE
      2120 Griffin Rd, Leesburg, FL 34748-3304
      View Details
    • Value Estimation
      $1,990,000
      15,440 SF

      1100 Thomas Ave

      WAREHOUSE, STORAGE
      1100 Thomas Ave, Leesburg, FL 34748-3646
      View Details
    • Value Estimation
      $995,000
      5,920 SF

      29008 Us Hwy 27

      WAREHOUSE, STORAGE
      29008 Us Hwy 27, Leesburg, FL 34748-8227
      View Details
    • Value Estimation
      $550,000
      4,892 SF

      2200 Montclair Rd

      WAREHOUSE, STORAGE
      2200 Montclair Rd, Leesburg, FL 34748-4718
      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
    • $3,800,000

      Leesburg Medical Facility on 6+ Acres

      23,630 SF medical facility on 6.04 acres in Leesburg.
      2500 Citrus Blvd, Leesburg, FL 34748
      View Details
    • Contact for pricing
      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

    • $93,800

      Leesburg Industrial/Warehouse Space Available

      Industrial/Warehouse space for lease in Leesburg, Florida.
      2317 Griffin Rd, 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
    • $19,040 /Mo

      Leesburg Office/Warehouse Flex Space

      Office and warehouse space for lease in Greenleaf Business Center.
      1805 Greenleaf Ln, Leesburg, FL 34748
      View Details
    • Contact for pricing
      8,040 SF

      Leesburg Warehouse with Air Conditioning

      8,040 SF fully air-conditioned warehouse with office space for lease.
      2-125 Montclair 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.
    2404 Virginia Dr
    Leesburg, FL 34748-4102
    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

    Thank You for Inquiry
    2404 Virginia Dr, Leesburg, FL, 34748
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!