• Year Built: 1985
11433 U.S. 441 is aretail property for lease in Leesburg, FL.
Current NOI makes this plaza a true 8 cap! Currently the leases are modified gross but are due to expire in October 2017 with no options to renew. By converting the leases from modified gross to NNN leases the NOI will increase by 23,000 a year! There is plenty of room for value add for an investor and converting the leases to NNN will not be that difficult due to the fact that the current rent is considerably lower then all other strip centers in the region and the tenants have all occupied their spaces for many years. Also a tenant that is paying under 500 a month that will not remain when their lease expires and replaced with a tenant that is willing to pay 2000 a month on a NNN lease. This unit will add an additional 18,000 to the NOI and in 2017 both changes will increase the annual NOI by 41,000.
Owner has recently repaved the front sidewalk and had the building resurfaced and painted. Owner has also added a water filtration system to allow restaurants to be able to occupy.
There are additional 2.4 acres that can be used for potential income for outdoor storage of boats, RVs, trailers, shipping containers and more.
Located on US HWY 441, just east of The Villages in Leesburg.
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