128 E Magnolia Ave

Eustis, FL 32726

$2,250,000
Price
—
Beds
—
Baths
15,820 Sq. Ft.
$142 / Sq. Ft.
15,820
Sq. Ft.
$142
per Sq. Ft.

Description

Great opportunity! Motivated owners! 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...Great opportunity! Motivated owners! 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.
  1. Listed by Scott Strem • Brokerage DRE #1032656 • MORRIS REALTY AND INVESTMENTS
    P: (352)-435-4663 C: (352)-978-3428 scottstrem@aol.com

Property Details for 128 East Magnolia Avenue

Township
19
Waterfront
No
Water View
Lake - Chain of Lakes
LISTING UPDATED: 05/06/2025 08:00 PM

Property Details for 128 East Magnolia Avenue

StatusActive
MLS #G5096179
Days on Market57
Taxes$22,362 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale / Mixed Use
Year Built1927
Lot Size0.19 AC / 8,308 SF
CountyLake County

Location

Listing Courtesy of MORRIS REALTY AND INVESTMENTS, Scott Strem
Add your commute

Building Information for 128 East Magnolia Avenue

Stories2Residences-Year Built1927Lot Size0.19 AC / 8,308 SF

Payment Calculator

$13,652 per month

30 year fixed, 6.845% Interest

Principal and Interest

$11,789

Property Taxes

$1,864

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 128 East Magnolia Avenue

Summary
Location and General Information
  • Building Area Source: Public Records
  • Building Area Total: 15820.0
  • Building Area Units: Square Feet
  • Directions: S BAY ST (SR 19N) IN EUSTIS CONTINUE TO N GROVE ST TO LEFT ON E MAGNOLIA, PROPERTY AT CORNER. SIGN ON PROPERTY.
  • Mls Major Change Type: Price Decrease
  • Listing Service: Full Service
  • Road Frontage Type: City Street
  • Unit Number: No
  • Street Number: 128
  • Street Direction Prefix: E
  • Street Name: MAGNOLIA
  • Street Suffix: AVENUE
  • State: FL
  • City: EUSTIS
Parking
  • Parking Features: 19 to 30 Spaces, Curb Parking
Taxes and HOA Information
  • Condo Environment: No
  • Tax Block: 54
  • Tax Book Number: 1-79
  • 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
  • Tax Lot: 5
  • Tax Year: 2024
Virtual Tour
Property
Lot Information
  • Additional Parcels: No
  • Lot Features: Central Business District, Historic District, City Lot
  • Parcel Number: 111926010005400300
  • Total Acreage: 0 to less than 1/4
  • Total Num Buildings: 1
  • Water Access: Lake - Chain of Lakes
  • Water Access: Yes
  • Water Body Name: LAKE EUSTIS
  • Water Extras: No
  • Living Area: 15820
Property and Assessments
  • Year Built Numeric: 1927
  • Adjoining Property: Commercial
  • Flood Zone Code: X
  • New Construction: No
  • Property Condition: Completed
  • Public Survey Range: 26
  • Public Survey Section: 11
Utilities
  • Electric: Separate Meters
  • Sewer: Public Sewer
  • Utilities: BB/HS Internet Capable, Electricity Available, Natural Gas Available, Other, Public, Water Connected
  • Water Source: Public
Interior and Exterior Features
Exterior Features
  • Construction Materials: Block, Brick, Concrete
  • Foundation Details: Basement, Slab
  • Levels: Two
  • Pool: None
  • Pool Private: No
  • Waterfront Feet Total: 0
  • Number Of Stories: 2
Interior Features
  • Cooling: Central Air, Zoned
  • Heating: Central, Central Individual, Electric, Natural Gas, Zoned
  • Living Area Source: Public Records
  • Living Area Units: Square Feet
  • Water View: Yes

Property History for 128 East Magnolia Avenue

DateEvent & SourcePriceAppreciation
May 6, 2025

Price Change

MFRMLS #G5096179

$2,250,000—
May 6, 2025

Price Change

MFRMLS #G5096494

$2,250,000—
May 1, 2025

Listed (Active)

MFRMLS #G5096494

$2,490,000—
Apr 23, 2025

Listed (Active)

MFRMLS #G5096179

$2,490,000—
Dec 2, 2014

Sold (Public Record)

Public Record #484265051

$800,000

+13.2% / yr

Jan 6, 2007

Sold (Public Record)

Public Record #212072395

$300,000—
DateEvent & SourcePrice
05/06/2025

Price Change

MFRMLS #G5096179

$2,250,000
05/06/2025

Price Change

MFRMLS #G5096494

$2,250,000
05/01/2025

Listed (Active)

MFRMLS #G5096494

$2,490,000
04/23/2025

Listed (Active)

MFRMLS #G5096179

$2,490,000
12/02/2014

Sold (Public Record)

Public Record #484265051

$800,000

+13.2% / yr

01/06/2007

Sold (Public Record)

Public Record #212072395

$300,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 128 East Magnolia Avenue

Taxable ValueLand$304,073Additions$821,219Total$1,125,292
Tax Record2024$21,680 ($1,807 / month)
Home Facts
Baths7Total Finished SqFt15,750 SqFtAbove Grade Finished SqFt15,750 SqFtStories1Lot Size8,308 SqFtStyleStoresYear Built1927Year Renovated1982CountyLAKEAPN11-19-26-0100-054-00300

Schools near 128 East Magnolia Avenue

This home is within Lake County Schools.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 12
Rating
School
Distance
Eustis Elementary School
PublicPK to 5

Eustis Middle School
Public6 to 8

Eustis High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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128 East Magnolia Avenue is a mixed use property for sale in Eustis, FL 32726. This property was listed for sale on April 23, 2025 by MORRIS REALTY AND INVESTMENTS, it's currently listed at $2,250,000. It has been on the market for a total of 57 days and was last sold on December 2, 2014. This listing's school district is Lake County Schools. Nearby schools include Eustis Elementary School, Eustis Middle School and Eustis High School. 128 East Magnolia Avenue is a 0-bed, 0-bath, 15,820 sqft mixed use property built in 1927.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of MORRIS REALTY AND INVESTMENTS, Scott Strem

The information being provided by MFRMLS and Daytona Multiple Listing Service is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of MFRMLS or Daytona Multiple Listing Service. Real estate listings held by brokerage firms other than this site owner are marked with the IDX/MLS logo. Information deemed reliable but is not guaranteed accurate by MFRMLS or Daytona Multiple Listing Service. Last updated: 05/06/2025 08:00 PM