Renovated Office Building in
For Sale
$549,000
702 MABBETTE St, Kissimmee, FL 34741
Renovated office building with parking in Downtown Kissimmee.
Property Size1,708 SF
Price / SF$379.41
Days on Market116
Property Features for 702 MABBETTE St
General Information
Standard status
Active
Size
1,708 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$5,515
Building Details
Building Size
1,708 SF
Year Built
1910
Stories
1
Listing Agency:
CENTURY 21 WOLF'S CROSSING REALTY
(407) 873-9370
Listed By:
Fernando Homs · License #3159618
(407) 873-9370
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Jul 16 at 8:06AM
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 WOLF'S CROSSING REALTY
Investment Insights
Based on property information with market context.
This renovated corner-lot office building is situated in Downtown Kissimmee. The property provides approximately 1,447 square feet of office space, featuring a reception area, four private offices, two bathrooms, an additional reception area, and two kitchens. Dedicated parking is available for up to 12 vehicles, supplemented by street parking. The layout is suitable for two separate businesses to operate independently, each with separate exterior access. The property consists of two lots: one for the building and one for parking spaces. The location has a bike score of 78, indicating it is very bikeable, a walk score of 64, indicating it is somewhat walkable, and a transit score of 39, indicating some transit options are available. This property is ideal for a variety of professional uses.
Key Highlights
- Renovated office building in a prime Downtown Kissimmee location.
- Layout suitable for two separate businesses with independent exterior access.
- Dedicated parking for 12 vehicles plus additional street parking.
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
$17,776
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
3.24%
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%
$355,520
$355.5K
Cap Rate 7%
$253,943
$253.9K
Cap Rate 9%
$197,511
$197.5K
Market Conditions
NOI Build-Up for 1,447 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
$30.4K $21.00/SF
− Vacancy
−$6.7K −$4.62/SF
EGI
$23.7K $16.38/SF
− OpEx
−$5.9K −$4.10/SF
NOI
$17.8K $12.29/SF
Area
Polk County, FL
Vacancy
22.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$355,520
Cap Rate 7%
$253,943
Cap Rate 9%
$197,511
Alternative Uses
Best Use
Office B
$253.9K
$222.2K – $296.3K
NOI $17,776 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$347.7K
$304.3K – $405.7K
NOI $24,341 @ 7.0% cap · market cap 4.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,292
Businesses Nearby
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Renovated office building with parking in Downtown Kissimmee.
Where is this office building located?
The property is located at 702 MABBETTE St Kissimmee, FL.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Renovated office building in a prime Downtown Kissimmee location.; Layout suitable for two separate businesses with independent exterior access.; Dedicated parking for 12 vehicles plus additional street parking.
