Commercial property in Leesburg, Florida 456.34 sq.m. № 2449444

Property description

This offering combines an established laundromat, a fully leased quadplex, and an adjacent single-family home on a combined site of nearly 0.5 acres. It sits at the northeast corner of US Highway 441 (Main St.) and Michigan Avenue in Leesburg. The laundromat is a long-standing neighborhood business with steady demand. The quadplex is fully occupied, and its current rents are below market, which gives a new owner room to raise them over time. The sale also includes 314 Michigan Ave, a 2-bed, 2-bath home of 1,141 sq ft. That adds another income stream and more control over the corner. The land carries as much value as the businesses on it. The site fronts one of the area’s major commercial corridors, and growth from The Villages and the surrounding downtown Leesburg market keeps pushing in this direction. That makes the corner well positioned for future redevelopment as national retailers and new uses come into the area. An investor can hold it for income today, and the location makes it a strong redevelopment play later.