Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2473 Citrus Blvd Leesburg, FL 34748-7202

    • Office buildings
    • 2,421 SF
    • 0.55 lot acres
    OFF-MARKET
    Value Estimations
    $530,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2923951
    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

    • Northgate Animal Clinic / Veterinary Clinic

    Property Details for 2473 Citrus Blvd

    Year built
    1972
    Construction
    CONCRETE BLOCKS
    Lot size
    0.55 lot acres
    Property size
    2,421 SF
    Property type
    Office buildings
    APN
    15-19-24-0002-000-01700
    APU
    151924000200001700

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $529,000
      Market price range: $206k - $530k
      AI Estimate
      $529,000
      Market price range: $206k - $530k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $345,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $710,000
      Change: +105% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $570,000
      Change: +64% Conversion: Easy
      AUTO REPAIR, GARAGE
      $565,000
      Change: +64% Conversion: Difficult
      RETAIL STORES
      $335,000
      Change: -4% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Leesburg
    County
    Lake
    State
    Florida
    Longitude
    -81.8966
    Latitude
    28.8424
    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
    $7,193
    $0.00
    $0.00
    $455,303
    -
    $240,109
    $215,194
    $455,303

    Comparable in this City

    • Value Estimation by Request
      1,898 SF

      1223 Commerce St

      OFFICE BUILDING • 1,898 SF
      1223 Commerce St, Leesburg, FL 34748-3638
      View Details
    • Value Estimation by Request
      2,929 SF

      112 Dixie Ave

      PROFESSIONAL BUILDING • 2,929 SF
      112 Dixie Ave, Leesburg, FL 34748-6350
      View Details
    • Value Estimation by Request
      2,026 SF

      611 Dixie Ave

      OFFICE BUILDING • 2,026 SF
      611 Dixie Ave, Leesburg, FL 34748-2602
      View Details
    • Value Estimation
      $655,000
      2,988 SF

      1107 Dixie Ave

      PROFESSIONAL BUILDING • 2,988 SF
      1107 Dixie Ave, Leesburg, FL 34748-6311
      View Details
    • Value Estimation
      $700,000
      3,202 SF

      914 Dixie Ave

      PROFESSIONAL BUILDING • 3,202 SF
      914 Dixie Ave, Leesburg, FL 34748-7647
      View Details
    • Value Estimation by Request
      2,630 SF

      1023 Dixie Ave

      OFFICE BUILDING • 2,630 SF
      1023 Dixie Ave, Leesburg, FL 34748-6309
      View Details

    Similar Nearby for Sale

    • $1,750,000
      1.58 Acres

      Highway Commercial Mixed-Use Opportunity

      Mixed-use property with highway frontage and development potential.
      727 S 14Th St, Leesburg, FL 34748
      View Details
    • $599,000
      2,968 SF

      Downtown Leesburg Professional Office Building

      Well-maintained office building in downtown Leesburg with tenant in place.
      1029 W Magnolia St, Leesburg, FL 34748
      View Details
    • $1,250,000
      9,800 SF

      Leesburg Office Building on Highway 441

      9,800 SF medical/professional office building with highway frontage.
      401 E North Blvd, Leesburg, FL 34748
      View Details
    • $599,000

      Downtown Leesburg Professional Office Building

      Well-maintained office building in downtown Leesburg with tenant in place.
      1029 W Magnolia St, Leesburg, FL 34748
      View Details
    • Contact for pricing
      5,850 SF

      Leesburg Commercial Buildings on US-441

      Two buildings totaling 5,850 SF on US Hwy 441.
      1020 W North Blvd, Leesburg, FL 34748
      View Details
    • Contact for pricing
      2,573 SF

      Leesburg Office Building For Sale

      2,573 SF office building in high-growth Leesburg area.
      712 S 14Th St, Leesburg, FL 34748
      View Details

    Similar Nearby for Lease

    • $4,800 /Mo

      Downtown Leesburg Office Suites

      Office suites available in historic downtown Leesburg.
      711 W Main St, 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
    • $93,800

      Leesburg Industrial/Warehouse Space Available

      Industrial/Warehouse space for lease in Leesburg, Florida.
      2317 Griffin Rd, Leesburg, FL 34748
      View Details
    • $14,112 /Mo
      1,008 SF

      Leesburg Medical Park Office Space

      Medical office space for lease near UF Health Leesburg.
      704 Doctors Ct, Leesburg, FL 34748
      View Details
    • $1,850 /Mo
      5,400 SF

      Leesburg Mixed-Use Highway Frontage

      Updated mixed-use building with high visibility on US Highway 441.
      1539 Us Highway 441, Leesburg, FL 34748
      View Details
    • $26 SF/Yr
      8,642 SF

      Medical Office Near UF Health

      Medical office space for lease near UF Health Leesburg Hospital.
      640 S Lake St, Leesburg, FL 34748
      View Details

    Property Visit Statistics

    • Visits by month
      5.8k
    • Visitors by month
      3.9k
    • Avg Time on site
      7 min
    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.
    2473 Citrus Blvd
    Leesburg, FL 34748-7202
    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!