Sign Up Successful!
You now have access to more from Realmo!
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

    424 Palmetto St Leesburg, FL 34748-5275

    • Sports & entertainment properties
    • 16,202 SF
    • 1.03 lot acres
    OFF-MARKET
    Value Estimations
    $21,530,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2812642
    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

    • Skate World Leesburg / Arcade & Gaming Center / (Bike/Boat/Book/etc) Store

    Property Details for 424 Palmetto St

    Year built
    1959
    Construction
    CONCRETE BLOCKS
    Lot size
    1.03 lot acres
    Property size
    16,202 SF
    Property type
    Sports & entertainment properties
    APN
    23-19-24-0004-000-09800
    APU
    231924000400009800

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $21,530,000
      Market price range: $1.47M - $42.4M
      AI Estimate
      $21,530,000
      Market price range: $1.47M - $42.4M

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

    Location Insight

    • Map
    • Local Demand
    City
    Leesburg
    County
    Lake
    State
    Florida
    Longitude
    -81.8745
    Latitude
    28.815
    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
    $10,002
    $0.00
    $0.00
    $537,487
    -
    $119,436
    $418,051
    $537,487

    Comparable in this City

    • Value Estimation
      $4,580,000
      3,447 SF

      300 Palmetto St

      RECREATIONAL, ENTERTAINMENT • 3,447 SF
      300 Palmetto St, Leesburg, FL 34748-5235
      View Details
    • Value Estimation
      $6,730,000
      5,065 SF

      5500 Clubhouse Dr

      RECREATIONAL, ENTERTAINMENT • 5,065 SF
      5500 Clubhouse Dr, Leesburg, FL 34748-8042
      View Details
    • Value Estimation by Request
      1,800 SF

      1511 Ss St

      RECREATIONAL, ENTERTAINMENT • 1,800 SF
      1511 Ss St, Leesburg, FL 34748-6629
      View Details
    • Value Estimation
      $46,485,000
      34,980 SF

      2813 Main St

      RECREATIONAL, ENTERTAINMENT • 34,980 SF
      2813 Main St, Leesburg, FL 34748-4632
      View Details
    • Value Estimation by Request
      2.71 Acres

      Countryside Blvd

      GOLF COURSE • 2.71 Acres
      Countryside Blvd, Leesburg, FL 34748
      View Details
    • Value Estimation by Request
      1.32 Acres

      Golf Ct

      GOLF COURSE • 1.32 Acres
      Golf Ct, Leesburg, FL 34748
      View Details

    Similar Nearby for Sale

    • $319,000
      2.63 Acres

      Leesburg Commercial Land - 20 Units

      2.63-acre commercial lot, R-2 zoning, 20-unit potential.
      0 Lucas St, Leesburg, FL 34748
      View Details
    • $4,500,000

      Leesburg Industrial Property for Sale

      Industrial property available in Leesburg, Florida.
      1720 Leesburg Commons Ct, Leesburg, FL 34748
      View Details
    • $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
      View Details
    • $4,347,000
      14,313 SF

      Leesburg Freestanding Retail Building

      Freestanding ±14,313 SF retail building on 1.63 acres.
      901 S 14Th St, Leesburg, FL 34748
      View Details
    • $825,000

      Leesburg Townhouse Lots Opportunity

      33 approved townhouse lots in Leesburg, Florida.
      Us Highway 27, Leesburg, FL 34748
      View Details
    • $199,000

      Leesburg Multifamily Property for Sale

      Multifamily property in Leesburg, Florida available for purchase.
      518 Hawthorne Blvd, Leesburg, FL 34748
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,125 SF

      Leesburg Retail Space Available

      Prime Leesburg retail, multiple spaces.
      1450 North Blvd, Leesburg, FL 34748
      View Details
    • Contact for pricing
      35,116 SF

      Leesburg Medical Office Space for Lease

      Prime Medical Office Suites Available in Leesburg, FL
      106 North Blvd, Leesburg, FL 34748
      View Details
    • Contact for pricing
      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
    • $28,800

      Downtown Leesburg Freestanding Office Building

      1,600 SF office building in historic downtown Leesburg.
      2017 W Main St, Leesburg, FL 34748
      View Details
    • Contact for pricing
      20,572 SF

      Leesburg Retail Space Available Immediately

      20,572 SF retail space with high visibility in Leesburg.
      27405 Us Highway 27, Leesburg, FL 34748
      View Details
    • Contact for pricing
      2,420 SF

      Retail Space in Leesburg Center

      Retail space available in shopping center anchored by Aldi.
      2219-2241 Citrus Blvd, Leesburg, FL 34748
      View Details

    Property Visit Statistics

    • Visits by month
      0
    • Visitors by month
      716
    • 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.
    424 Palmetto St
    Leesburg, FL 34748-5275
    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.