Multi-Unit Industrial Condo
For Sale
Contact for pricing
1016 American Way, Kissimmee, FL 34741
Sixteen fully rented industrial condo units with stable cash flow.
Property Size32,938 SF
Price / SF$150.86
Days on Market208
Property Features for 1016 American Way
General Information
Standard status
Active
Size
32,938 SF
Property subtype
Special Purpose
Listing Agency:
Century 21 Carioti
(407) 683-1097
Listed By:
Emad Terkawi · License #FL
Source:
Crexi
Added: Jan 31
Changed: Aug 26
Last Checked: Aug 14 at 7:24AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Carioti
Investment Insights
Based on property information with market context.
This is an excellent investment opportunity featuring 16 fully rented industrial condo units, offering stable cash flow and long-term upside. The property comprises well-maintained units with functional layouts suitable for a variety of industrial and commercial uses. Strong tenant occupancy provides immediate income, making this an ideal asset for investors seeking dependable returns. Convenient access to major transportation routes, established industrial corridors, and surrounding amenities enhances tenant demand and retention. The property offers low-maintenance ownership with individual condo units, allowing for flexible hold or future resale strategies. It is a rare chance to acquire a multi-unit industrial portfolio in a desirable market. The property size is 32938 square feet.
Key Highlights
- 16 fully rented industrial condo units providing stable cash flow.
- Strong tenant occupancy ensures immediate and dependable income.
- Convenient access to major transportation routes and established industrial corridors.
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
$177,272
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
3.57%
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%
$3,545,440
$3.5M
Cap Rate 7%
$2,532,457
$2.5M
Cap Rate 9%
$1,969,689
$2.0M
Market Conditions
NOI Build-Up for 32,938 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
$296.4K $9.00/SF
− Vacancy
−$23.7K −$0.72/SF
EGI
$272.7K $8.28/SF
− OpEx
−$95.5K −$2.90/SF
NOI
$177.3K $5.38/SF
Area
Polk County, FL
Vacancy
8.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
35.00%
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%
$3,545,440
Cap Rate 7%
$2,532,457
Cap Rate 9%
$1,969,689
Alternative Uses
Best Use
Flex RnD
$2.53M
$2.22M – $2.95M
NOI $177,272 @ 7.0% cap · market cap 3.57%
Second Best
Industrial
$2.24M
$1.96M – $2.62M
NOI $157,132 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$7.92M
$6.93M – $9.23M
NOI $554,070 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
176
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34741, FL
56,454
Population
22,043
Households
2.6
Avg Household Size
35
Median Age
28%
College-Educated
87%
High-School Grad
15.0 sq mi
ZIP Area
3,764
Density / Sq Mi
$50,278
Median Household Income
$30,415
Median Earnings
$1,591
Median Rent
$270,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Sixteen fully rented industrial condo units with stable cash flow.
Where is this flex space located?
The property is located at 1016 American Way Kissimmee, FL.
What is the asking price?
The asking price for this property is $4,969,170.
What are key features of this property?
This property features: 16 fully rented industrial condo units providing stable cash flow.; Strong tenant occupancy ensures immediate and dependable income.; Convenient access to major transportation routes and established industrial corridors.
