Investment Overview

Marcus & Millichap is pleased to present 1500 South Street, a single-tenant net-leased retail investment opportunity in Leesburg, Florida, offering stable in-place income with meaningful upside potential. The property is offered at a 6.01% cap rate, providing an attractive entry point for investors. In-place rents average approximately $16.64 per square foot, which is significantly below the overall market average of $31.10 per square foot, presenting a clear opportunity to increase revenue by aligning rents with current market levels over time. The 1,794 square foot property is leased to Warrens Flooring on a triple-net (NNN) basis, providing passive ownership with minimal landlord responsibilities. The lease commenced in July 2025 and runs through June 2028, leaving approximately two years of remaining term with no renewal options. This near-term rollover presents a compelling opportunity to re-lease the space at market rates or renegotiate favorable terms, positioning investors to capture additional upside upon lease expiration. Strategically positioned along South Street, the property benefits from strong visibility and exposure to approximately 29,000 vehicles per day, supporting consistent consumer traffic within a well-established retail corridor. The tenant operates a showroom and installation business, creating a strong physical presence and integration within the local market. Overall, the property offers a combination of stable income, passive ownership, and long-term rental upside in a growing Central Florida market.