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    344 E Royal Palm St Lake Placid, FL 33852

    For Sale
    $2,400,000

    Two finished medical buildings in Lake Placid, Florida.

    Lot size:
    0.82 Acres

    Property Features for 344 E Royal Palm St

    General Information

    Lot size
    0.82 Acres

    Building Details

    Year built
    1996

    Source: Advantage Realty #1 Agent Greg Karlson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Finished Medical Buildings For Sale

    Two finished medical buildings, each approximately 6,247 square feet, are available for sale. The property is located on a corner lot in Lake Placid, Florida. One building was previously occupied by Cora Physical Therapy. The other building is divided into three spaces: one was previously occupied by RJB Physical Therapy, and the remaining space was used as a pediatric physician's office. The seller is willing to lease back approximately 4,000 square feet currently occupied by a tenant. Approximately 8,000 square feet is currently vacant. This property is suitable for a medical practice looking to establish a presence in a growing rural market.
    Location Intelligence

    Current Use by Public Records

    Heartland Pediatrics-Lake Plcd: ... Pediatrician Dr. Maria Belina ... Pediatrician RJB Cardiac & Physical ... Physical Therapist Heartland Pediatrics of Lake ... Pediatrician

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    James P. Waller, Jr., DVM, Altvater Leah C DVM, Waltman Jennifer H DVM, Citrus Animal Clinic

    Location Insight

    • Map
    • Local Demand
    City
    Lake Placid
    County
    Highlands
    State
    Florida
    Longitude
    -81.3594689
    Latitude
    27.2950925

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    FAQs

    What type of property is this?
    Medical office - Two finished medical buildings in Lake Placid, Florida.
    Where is this medical office located?
    The property is located at 344 E Royal Palm St Lake Placid, FL.
    What is the asking price?
    The asking price for this property is $2,400,000.
    What are key features of this property?
    This property features: - Large Medical Buildings: Boasting 12,496 SF of finished space for substantial operational capacity.; - Dual Building Structure: Two buildings, each approximately 6,247 SF, offer flexible use and layout options.; - Income Potential: Seller will lease back 4,000 SF, providing immediate rental income.
    (863) 381-4932
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    344 E Royal Palm St Lake Placid, FL 33852
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

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    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    344 E Royal Palm St Lake Placid, FL 33852
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