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1699 Us Highway 441

Leesburg, FL 34748

– beds
– baths
3,388 sqft
~1/2 acre lot
$410 per sqft
1980 build
– on site

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This owner operated portion of the property includes a Laundromat, Quadplex situated on one parcel located on the Northeast Corner of US Highway 441 (Main St.) and Michigan Avenue. The quadplex is fully leased and provides for a considerable amount of upside potential given that the current lease rates are slightly below market. The business operation of the Laundromat represents a very lucrative investment. The quadraplex & laundromat yields nearly $200k per year in gross revenues. These income producing assets generate a return over 9% based on the current list price of $1,650,000. It must be noted that this return also incorporates a labor expense of nearly $30k if a new owner prefers to hire an employee to manage the property. As such, if owner operated, the return on the investment would increase to nearly 11.0%. In addition to the substantial return this property will provide, the underlying land is also a major part of this investment that should not be overlooked. The adjacent property, 314 Michigan Ave, is also included with this sale. This property is a 2/2 and 1,141 sqft. This entire site at nearly 0.5 acres is located along one of the area’s major commercial thoroughfares. As the growth from the Villages and those areas surrounding the downtown Leesburg market area continue to expand, this market is primed for a redevelopment with numerous national retailers and uses that will continue to drive up land values.

Listing courtesy of STELLAR_MLS / EXP REALTY LLC

Last checked: Checking… • Last updated Oct 14, 2024 •

MLS# O6118736 —

The Building

Year Built:

1980
New Construction:

false
Construction Materials:

Block
Roof:

Shingle
Foundation Details:

Slab
# of Buildings:

3
Building Area Total:

3388
Building Area Units:

Square Feet
Building Area Source:

Public Records

Interior

Interior Features:

Solid Surface Counters
Flooring:

Ceramic Tile
Fireplace:

false

Room Dimensions

Living Area:

3388
Living Area Units:

Square Feet
Living Area Source:

Public Records

Location

Directions:

Take Hwy 441/27 east property will be on the right next to the Hwy
Latitude:

28.815205
Longitude:

-81.848559
Coordinates:

-81.848559, 28.815205

The Property

Parcel Number:

301925050000D001
Property Type:

Residential Income
Property Subtype:

Quadruplex
Lot Features:

City Lot
Lot Size Acres:

0.49
Lot Size Area:

21313
Lot Size SqFt:

21313
Lot Size Dimensions:

x
Lot Size Units:

Square Feet
Total Acres:

1/4 to less than 1/2
Zoning:

C-2
View:

false
Exterior Features:

Sidewalk
Water Source:

Public
Road Surface Type:

Paved
Road Frontage Type:

Street Paved
Flood Zone Code:

X
Additional Parcels:

true
Additional Parcels Description:

30-19-25-0801-00D-00200
Homestead:

false
Land Lease:

false

Listing Agent

Contact info:

Taxes

Tax Year:

2022
Tax Lot:

00100
Tax Block:

00D
Tax Legal Description:

LEESBURG, MOUNT VERNON LOT 1, TRIANGULAR TRACT ADJOINING NE ANGLES TO THE CENTERLINE OF SR 500, S 51-10-16 W 103.02 FT TO BEGINNING OF A TANGENT CURVE CONCAVE NWLY & HAVING A RADIUS OF 5795.27 FT, THENCE SWLY 69.22 FT CONCENTRIC WITH SAID CENTERLINE & ALO
Tax Book Number:

0060/0960
Tax Annual Amount:

5860.41

The Listing

Special Listing Conditions:

None

Heating & Cooling

Heating:

Central
Heating:

true
Cooling:

Central Air
Cooling:

true

Utilities

Utilities:

Cable Available
Sewer:

Public Sewer

Appliances

Appliances:

Microwave

The Community

Subdivision Name:

MOUNT VERNON
Senior Community:

false
Community Features:

Sidewalks
Water View:

false
Water Access:

false
Waterfront:

false
Pool Private:

false
Association:

false
Association Fee Requirement:

None
Ownership:

Fee Simple

Parking

Garage:

true
Attached Garage:

true
Garage Spaces:

1
Garage Dimensions:

00x00
Carport:

false
Covered Spaces:

1

Extra Units

# of Units Total:

5

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
3/14/24 Mar 14, 2024	Sold	STELLAR_MLS	$1,389,375	-7.4%
1/22/24 Jan 22, 2024	Pending	STELLAR_MLS	$1,500,000
8/31/23 Aug 31, 2023	Price Changed	STELLAR_MLS	$1,500,000	-9.1%

Multifamily Sold on 3/14/2024

$1,389,375

Listing provided by broker:

Jason Asa

EXP REALTY LLC

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Listing Courtesy of: STELLAR_MLS and EXP REALTY LLC.

Based on information from the My Florida Regional MLS DBA Stellar MLS 2024.

All information provided is deemed reliable but is not guaranteed and should be independently verified. Stellar MLS, Estately and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information on each listing is furnished by the owner and deemed reliable to the best of his/her knowledge, but should be verified by the purchaser. Stellar MLS and Estately assume no responsibility for typographical errors, misprints or misinformation. This property is offered without respect to any protected classes in accordance with the law. For any questions please call (407) 499-8911.

1699 Us Highway 441

Leesburg, FL 34748