1029 W Magnolia St 2,788 SF Office Building Leesburg, FL 34748 $599,000 ($214.85/SF)

Excellent professional office building in Downtown Leesburg on a 1/3-acre corner lot with parking on two sides. The building features multiple (4) large offices, a storage room in front of a very large safe, an oversized conference room, 3 restrooms (one with a shower), a kitchen/breakroom, a nice reception office, a customer waiting room, and plenty of storage and closets. Currently, there is a tenant in place until the end of 2026, providing great cash flow with a CAP rate of 7.5% and a modified gross lease. The property offers 17 parking spaces, and the lot was repaved in 2011. Updates include a re-roof and building paint in 2020, a new 7.5-ton Rheem split system central AC unit in 2024, and a mini split in the computer server room. This is a very nice, well-maintained building that is a great investment for an owner-user or investor. It is located just down the street from downtown activity, with a local college, restaurants, and shops within a few blocks.
Location Description
Located at 1029 W Magnolia Street, this professional office building sits in an excellent downtown Leesburg location with convenient access to major roadways, including US-27, US-441, and SR-44. Positioned just steps from the heart of downtown, the property offers close proximity to restaurants, shops, government offices, and the local college, making it ideal for businesses seeking visibility and daily convenience. Its central placement within Leesburg’s commercial corridor provides easy connectivity for clients and employees while offering the benefits of a vibrant, walkable area surrounded by established amenities.