Medical Facility with Highway
346 E Royal Palm Street Lake Placid, FL 33852
For Sale
$1,200,000
Turn-key medical facility with high traffic exposure in Lake Placid.
Property Size6,200 SF
Lot Size0.91 Acres
Price / SF$193.55
Days on Market587
Property Features for 346 E Royal Palm Street
General Information
Standard status
Active
Size
6,200 SF
Lot size
0.91 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1996
Listing Agency:
Advantage Realty #1
(863) 381-4932
Listed By:
Gregory S Karlson · License #3229372
(863) 381-4932
Source:
Exitrealty
Added: Dec 17, 2024
Changed: Jul 6
Last Checked: Jul 25 at 10:01AM
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 Advantage Realty #1
Investment Insights
Based on property information with market context.
This is a 6,200 square foot medical facility, previously used for physical therapy, located in Lake Placid, Florida. The property benefits from its location on US 27 Highway, offering high exposure and a full median turn. The average daily traffic count is 20,400, the highest in Lake Placid. The building is well-maintained, featuring a roof that is approximately 6 years old and an air conditioning system that is approximately 1 year old. The parking area has been resealed. The property is being sold vacant.
Key Highlights
- Prime US 27 Hwy Exposure with High Traffic Count (20,400 AADT)
- Turn‑Key 6200+-SF Medical Facility
- Established Medical Site with 20 Years of Recognition
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $107.9k | $17.40 |
| − Vacancy | −$23.7k | −$3.83 |
| EGI | $84.1k | $13.57 |
| − OpEx | −$21.0k | −$3.39 |
| NOI | $63.1k | $10.18 |
6,200 SF · lease $17.40/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$901.6K
$788.9K – $1.05M
NOI $63,110 @ 7.0% cap · market cap 5.26%
Second Best
Healthcare Medical
$770.5K
$674.2K – $898.9K
NOI $53,936 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,292 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- James P. Waller, Jr., DVM — 270 US Hwy 27, Lake Placid, FL 33852
- Altvater Leah C DVM — 270 US Hwy 27, Lake Placid, FL 33852
- Waltman Jennifer H DVM — 270 US Hwy 27, Lake Placid, FL 33852
- Citrus Animal Clinic — 270 US Hwy 27, Lake Placid, FL 33852
Frequently Asked Questions
What type of property is this?
Medical Office Space - Turn-key medical facility with high traffic exposure in Lake Placid.
Where is this medical office space located?
The property is located at 346 E Royal Palm Street Lake Placid, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Prime US 27 Hwy Exposure with High Traffic Count (20,400 AADT); Turn‑Key 6200+-SF Medical Facility; Established Medical Site with 20 Years of Recognition
