128 E Magnolia Avenue
Eustis, FL 32726
- 7 beds
- 6 baths
- 15,820 sqft
- 8,308 sqft lot
- $157 per sqft
- 1927 build
- – on site
GREAT OPPORTUNITY!! Discover an exceptional investment or owner-user opportunity in the heart of historic Downtown Eustis. This beautifully maintained building exudes classic architectural charm while offering a range of modern upgrades, making it both visually appealing and functionally ready. Improvements include a new roof within the past five years, several new A/C units, updated windows, electrical upgrades, and updated plumbing. The spacious ground floor features nearly 8,000 square feet of open-concept showroom or retail space, complete with a private office and storage area, two ADA-compliant restrooms, and even a basement storage area. A second storefront entrance on the main level provides flexibility—perfect for use alongside the primary space or as a separate rental for additional income. Upstairs, you'll find approximately 3,000 square feet of fully renovated office space, including multiple offices, restrooms, and a breakroom, ideal for leasing or expanding business operations. Adding to the value, the building includes six income-producing, separately metered residential apartments— 5 one-bedroom/one-bath units and 1 two-bedroom/one-bath unit. Tenants enjoy the convenience of a shared laundry facility, while the property benefits from modern amenities such as a wired security system with surveillance cameras, keyless hall entry, and remote-controlled HVAC thermostats. Parking is a breeze with ample street parking out front and a city-maintained lot directly beside the building. Located in a vibrant downtown district undergoing ongoing revitalization, this property is surrounded by flourishing retail, dining, and office establishments. With its brick-lined streets, nearby parks, and stunning views of Lake Eustis and Ferran Park, downtown Eustis—fondly known as "America’s Hometown"—offers both charm and investment potential in one outstanding package.
Last checked:
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Last updated May 3, 2025
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MLS# G5096494 —
The Building
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Year Built:1927
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New Construction:false
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Construction Materials:Block
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Levels:Two
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Roof:Other
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Basement:Other
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Foundation Details:Basement
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# of Buildings:1
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Building Area Total:15820
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Building Area Units:Square Feet
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Building Area Source:Public Records
Interior
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Interior Features:Other
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Fireplace:false
Room Dimensions
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Living Area:15820
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Living Area Units:Square Feet
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Living Area Source:Public Records
Location
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Directions:S BAY ST (SR 19N) IN EUSTIS CONTINUE TO N GROVE ST TO LEFT ON E MAGNOLIA, PROPERTY AT CORNER. SIGN ON PROPERTY.
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Latitude:28.853377
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Longitude:-81.684002
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Coordinates:-81.684002, 28.853377
The Property
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Parcel Number:111926010005400300
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Property Type:Residential Income
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Property Subtype:Multi Family
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Property Condition:Completed
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Lot Features:Historic District
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Lot Size Acres:0.19
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Lot Size Area:8308
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Lot Size SqFt:8308
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Lot Size Units:Square Feet
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Total Acres:0 to less than 1/4
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View:false
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Exterior Features:Sidewalk
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Water Source:Public
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Road Responsibility:Public Maintained Road
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Road Surface Type:Brick
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Flood Zone Code:X
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Additional Parcels:false
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Land Lease:false
Listing Agent
- Contact info:
- Agent phone:
- (352) 435-4663
- Office phone:
- (352) 435-4663
Taxes
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Tax Year:2024
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Tax Lot:5
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Tax Block:54
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Tax Legal Description:EUSTIS LOTS 3, 4, E 1 FT OF LOT 5 BLK 54 PB 1 PG 79 ORB ORB 3345 PGS 1389 & 1391
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Tax Book Number:1-79
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Tax Annual Amount:$22,362
Beds
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Bedrooms Total:7
Baths
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Total Baths:6
The Listing
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Virtual Tour URL Unbranded:https://www.propertypanorama.com/instaview/stellar/G5096494
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Special Listing Conditions:None
Heating & Cooling
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Heating:Central
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Heating:true
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Cooling:Central Air
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Cooling:true
Utilities
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Utilities:Electricity Available
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Sewer:Public Sewer
Appliances
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Laundry Features:Common Area
The Community
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Subdivision Name:EUSTIS
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Senior Community:false
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Waterview:Lake - Chain of Lakes
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Waterview:true
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Water Access:Lake - Chain of Lakes
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Water Access:true
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Water Body Name:LAKE EUSTIS
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Waterfront:false
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Pool Private:false
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Association:false
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Ownership:Fee Simple
Parking
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Garage:false
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Carport:false
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Parking Features:Curb Parking
Extra Units
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# of Units Total:9
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
5/1/25
May 1, 2025
|
Listed / Active | STELLAR_MLS | $2,490,000 |
