Mixed-Use Property with 29
For Sale
$3,500,000
421 E KENNEDY Boulevard, Maitland, FL 32751
Commercial Sale, MAITLAND, FL
Property Size15,777 SF
Lot Size0.85 Acres
Price / SF$221.84
Days on Market402
Property Features for 421 E KENNEDY Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-3
Subdivision
COOPERS SUB
Lot features
Central Business District, Corner Lot, Historic District, Near Public Transit, Sidewalk, Street Lights, Paved
Directions
From I4 take Lee Rd Exit to North on Wymore Rd to Right on Kennedy Blvd. Property is in center of town on left
Standard status
Active
APN
35-21-29-0000-00-154
Size
15,777 SF
Lot size
0.85 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
BEG 1082 FT S OF NE COR OF SE1/4 OF NE1/4 OF SEC 35-21-29 RUN W 87 FT FOR POB THS 01 DEG E 146.2 FT TH W 132.25 FT TH N146.12 FT TH E 128.5 FT TO POB (LESS R/W ON S) & LOTS 1 & 3 IN COOPERS SUB K/114
Tax Annual Amount
12783
Legal Description
BEG 1082 FT S OF NE COR OF SE1/4 OF NE1/4 OF SEC 35-21-29 RUN W 87 FT FOR POB THS 01 DEG E 146.2 FT TH W 132.25 FT TH N146.12 FT TH E 128.5 FT TO POB (LESS R/W ON S) & LOTS 1 & 3 IN COOPERS SUB K/114
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1967
Number of units
29
Building materials
Concrete, Stucco
Roof type
Concrete
Listing Agency:
CHARLES RUTENBERG REALTY ORLANDO
(407) 622-2122
Listed By:
David Washington · License #SL3164865
(407) 579-1981
Added: Jul 25, 2025
Changed: Aug 19
Last Checked: Aug 30 at 10:06AM
MLS# O6330371
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property includes a 29-unit multifamily building, an adjoining commercial structure at 429 E. Kennedy Blvd, and a commercial lot at 34 N. West St. The combined property size is 15,777 square feet on 0.85 acres, with concrete and stucco construction. The multifamily building dates to 1967, and the roof was replaced in 2023.
The property is located in Maitland between Maitland and Winter Park, with public water and public sewer service. Heating is provided by ductless systems, while cooling is supplied by wall and window units. The C-3 zoning designation supports the property's mixed-use classification.
The property is located in Maitland between Maitland and Winter Park, with public water and public sewer service. Heating is provided by ductless systems, while cooling is supplied by wall and window units. The C-3 zoning designation supports the property's mixed-use classification.
Key Highlights
- 29‑unit multifamily building included
- 15,777 square feet across 0.85 acres
- Adjacent commercial building at 429 E. Kennedy Blvd
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$309,811
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,196,220
$6.2M
Cap Rate 7%
$4,425,871
$4.4M
Cap Rate 9%
$3,442,344
$3.4M
Market Conditions
NOI Build-Up for 15,777 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$458.2K $29.04/SF
− Vacancy
−$15.6K −$0.99/SF
EGI
$442.6K $28.05/SF
− OpEx
−$132.8K −$8.42/SF
NOI
$309.8K $19.64/SF
Area
Orange County, FL
Vacancy
3.40%
Lease Rate
$29.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,196,220
Cap Rate 7%
$4,425,871
Cap Rate 9%
$3,442,344
Alternative Uses
Best Use
Retail
$4.43M
$3.87M – $5.16M
NOI $309,811 @ 7.0% cap · market cap 8.85%
Second Best
Mixed Use
$2.98M
$2.60M – $3.47M
NOI $208,256 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$4.49M
$3.93M – $5.24M
NOI $314,278 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
29
Residential units
Location Intelligence
Trade Area within ½ mile
657
Businesses Nearby
Explore this area
Business Placement
Demographics for 32751, FL
23,230
Population
10,730
Households
2.2
Avg Household Size
40
Median Age
56%
College-Educated
96%
High-School Grad
7.0 sq mi
ZIP Area
3,319
Density / Sq Mi
$94,277
Median Household Income
$51,357
Median Earnings
$1,841
Median Rent
$433,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - C-3-zoned property combines multifamily and commercial components across a centrally positioned Maitland site.
Where is this mixed-use property located?
The property is located at 421 E KENNEDY Boulevard Maitland, FL.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 29‑unit multifamily building included; 15,777 square feet across 0.85 acres; Adjacent commercial building at 429 E. Kennedy Blvd
