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1372 W North Blvd
Leesburg, FL 34748
Retail Property For Sale
Investment Highlights
- High-visibility location at intersection US-27 / US-441
- Value-add opportunity with a 10-year tenant on a NNN agreement at below-market rates. Immediate upside through multiple avenues.
- One of Central Florida's fastest growing markets. Population, income, and consumer spending all projected to continue growing.
Executive Summary
1372 W North Blvd, a single-tenant retail property in Leesburg, FL is offered for sale with a unique, value-add opportunity. Located on the high-visibility US-441/ US-27 intersection, this 9,920 SF property offers a prime position in a rapidly growing market. Nestled within an expanding trade area, anchored by many national retailers, the property benefits from traffic counts over 40,000 AADT.
The current tenant has been in place for nearly 10 years, with in-place rents below market on a NNN monthly agreement. The potential for obtaining a greater return is achievable through a variety of outlets from renegotiating the current structure, leasing the space out to market, or occupying the space as an owner-user.
**Please do not disturb tenant. Tenant is unaware of the sale.**
Within a 5-mile radius of the property, population is expected to increase by 8.6%, incomes to increase by 12.2%, and a 9.7% increase in consumer spending by 2030!
The C-3 zoning is flexible for a variety of businesses.
Allowed Uses: Retail Sales (except permitted), Day Care Facility, Churches, Offices, Restaurants (except permitted), Animal Hospital, etc.
With the already rapid population growth, many national retailers expanded into this market, such as Culvers, Chick-Fil-A, Marshalls, Swig, 7 Brew, and Wawa. Significant projects occurring in the area include the $10.5M Susan Street Complex redevelopment, the $22M UF Health Leesburg Hospital expansion, and approval of over 40,000 new housing units across various projects to be built by 2030.
The current tenant has been in place for nearly 10 years, with in-place rents below market on a NNN monthly agreement. The potential for obtaining a greater return is achievable through a variety of outlets from renegotiating the current structure, leasing the space out to market, or occupying the space as an owner-user.
**Please do not disturb tenant. Tenant is unaware of the sale.**
Within a 5-mile radius of the property, population is expected to increase by 8.6%, incomes to increase by 12.2%, and a 9.7% increase in consumer spending by 2030!
The C-3 zoning is flexible for a variety of businesses.
Allowed Uses: Retail Sales (except permitted), Day Care Facility, Churches, Offices, Restaurants (except permitted), Animal Hospital, etc.
With the already rapid population growth, many national retailers expanded into this market, such as Culvers, Chick-Fil-A, Marshalls, Swig, 7 Brew, and Wawa. Significant projects occurring in the area include the $10.5M Susan Street Complex redevelopment, the $22M UF Health Leesburg Hospital expansion, and approval of over 40,000 new housing units across various projects to be built by 2030.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
9,920 SF
Building Class
C
Year Built
1973
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.48
Lot Size
0.47 AC
Zoning
C-3
Parking
11 Spaces (1.11 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signage
Property Taxes
| Parcel Number | 23-19-24-0002-000-03002 | Improvements Assessment | $527,068 |
| Land Assessment | $208,219 | Total Assessment | $735,287 |
Property Taxes
Parcel Number
23-19-24-0002-000-03002
Land Assessment
$208,219
Improvements Assessment
$527,068
Total Assessment
$735,287
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