Two-Story Medical Office
For Sale
$5,400,000
1115 E Ridgewood Street, Orlando, FL 32803
Healthcare facility with elevator access, clinical rooms, physician offices, imaging space, and a full-service kitchen.
Property Size11,200 SF
Price / SF$460.36
Days on Market60
Property Features for 1115 E Ridgewood Street
General Information
Standard status
Active
Size
11,200 SF
Elevators
Yes
Property subtype
Commercial
Occupancy
100%
Additional Details
Road Access
Yes
Amenities
waiting room
conference room
full service kitchen
Building Details
Year Built
2013
Buildings
1
Stories
2
Building Size
11,200 SF
Tenancy
Single
Owner Occupied
No
Abandoned
No
Listing Agency:
FLORIDA REALTY INVESTMENTS
Listed By:
Alain Hart · License #3017893
(407) 340-4165
Source:
Realtygroupfl
Added: Aug 16
Changed: Oct 13
Last Checked: Oct 12 at 8:52PM
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 FLORIDA REALTY INVESTMENTS
Investment Insights
Based on property information with market context.
Built in 2013, this two-story medical office building contains 11,200 square feet configured for pulmonary care. The facility includes approximately 23 exam rooms, seven doctor offices, an X-ray room, storage, a conference room, multiple bathrooms, and a full-service kitchen. An elevator serves the building, and the interior includes a dedicated waiting area for patients.
The property fronts Mills Rd in Orlando’s medical and business district. It is fully leased to Advent Health under a Triple Net lease with a five-year term and a first right to renew. The existing layout and medical improvements support continued use as a specialized healthcare facility.
The property fronts Mills Rd in Orlando’s medical and business district. It is fully leased to Advent Health under a Triple Net lease with a five-year term and a first right to renew. The existing layout and medical improvements support continued use as a specialized healthcare facility.
Key Highlights
- 11,200‑square‑foot medical office building constructed in 2013
- Approximately 23 exam rooms and seven doctor offices
- Fully leased to Advent Health under a Triple Net lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$219,058
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,381,160
$4.4M
Cap Rate 7%
$3,129,400
$3.1M
Cap Rate 9%
$2,433,978
$2.4M
Market Conditions
NOI Build-Up for 11,730 SF
Gross rent
$351.9K $30.00/SF
− Vacancy
−$59.8K −$5.10/SF
EGI
$292.1K $24.90/SF
− OpEx
−$73.0K −$6.23/SF
NOI
$219.1K $18.67/SF
Area
Orlando, FL
Vacancy
17.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,381,160
Cap Rate 7%
$3,129,400
Cap Rate 9%
$2,433,978
Alternative Uses
Best Use
Office B
$3.13M
$2.74M – $3.65M
NOI $219,058 @ 7.0% cap · market cap 4.06%
Second Best
Healthcare Medical
$2.39M
$2.09M – $2.79M
NOI $167,223 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$3.78M
$3.31M – $4.41M
NOI $264,505 @ 7.0% cap · market cap 4.90%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,913
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32803, FL
21,003
Population
12,225
Households
1.7
Avg Household Size
38
Median Age
59%
College-Educated
96%
High-School Grad
6.8 sq mi
ZIP Area
3,089
Density / Sq Mi
$101,401
Median Household Income
$61,439
Median Earnings
$1,823
Median Rent
$421,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Orlando, FL
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Healthcare facility with elevator access, clinical rooms, physician offices, imaging space, and a full-service kitchen.
Where is this medical office space located?
The property is located at 1115 E Ridgewood Street Orlando, FL.
What is the asking price?
The asking price for this property is $5,400,000.
What are key features of this property?
This property features: 11,200‑square‑foot medical office building constructed in 2013; Approximately 23 exam rooms and seven doctor offices; Fully leased to Advent Health under a Triple Net lease
