Medical Office Land with
1346 US 27 Lake Placid, FL 33852
1346 US 27, Lake Placid, FL, 33852
$2,250,000
For Sale
$2,250,000
More than 10 acres along US Highway 27 with three maintained buildings and paved parking for medical or professional use.
Property Size7,874 SF
Price / SF$285.75
Days on Market37
Property Features for 1346 US 27
General Information
- Standard status
- Active
- Size
- 7,874 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1989
Listing agency
ADVANTAGE REALTY 1
(863) 381-4932
Listed by
Gregory Karlson · License #569759
(863) 381-4932
Source
Elliman
Added: Jun 15 Updated: Jul 10 at 1:58PM Checked: Jul 21 at 6:02AM
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 offering includes over 10 acres of commercial land along US Highway 27 frontage, improved with three existing buildings totaling 7,874 square feet. The buildings were originally built as model homes for a neighboring gated community and have been used previously as medical offices, with upkeep described as good and clean. As currently configured, the property provides 40 paved parking spaces, supporting convenient on-site access for staff and patients.
The site benefits from dedicated highway crossover access with deceleration lanes in both directions, supporting turn-in and traffic flow for customers traveling both directions along the highway. The property is adjacent to the Tomoka Heights community to the north and west, and it is described as having more than one-fifth mile of highway frontage. Public remarks also note the properties are opposite the expected Amazon Fulfillment Center.
For tenants, buyers, and operators, the existing buildings provide an office-oriented footprint previously maintained as medical offices, while the overall zoning flexibility expands long-term options. R3 zoning is cited as permitting a range of uses including medical and professional offices, as well as single and multi-family housing, apartments, condos, hotels/motels, and assisted living/nursing care. Public remarks further indicate seven additional acres zoned B3 are available directly across the highway, providing an option for future expansion where permitted by zoning and approvals.
The site benefits from dedicated highway crossover access with deceleration lanes in both directions, supporting turn-in and traffic flow for customers traveling both directions along the highway. The property is adjacent to the Tomoka Heights community to the north and west, and it is described as having more than one-fifth mile of highway frontage. Public remarks also note the properties are opposite the expected Amazon Fulfillment Center.
For tenants, buyers, and operators, the existing buildings provide an office-oriented footprint previously maintained as medical offices, while the overall zoning flexibility expands long-term options. R3 zoning is cited as permitting a range of uses including medical and professional offices, as well as single and multi-family housing, apartments, condos, hotels/motels, and assisted living/nursing care. Public remarks further indicate seven additional acres zoned B3 are available directly across the highway, providing an option for future expansion where permitted by zoning and approvals.
Key Highlights
- More than 10 acres with prime US Highway 27 frontage and a dedicated highway crossover with deceleration lanes in both directions
- Three existing buildings totaling 7,874 SF built in 1989 and maintained in good, clean condition
- Current configuration includes 40 paved parking spaces for medical or professional use
Local 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 | $137.0k | $17.40 |
| − Vacancy | −$30.1k | −$3.83 |
| EGI | $106.9k | $13.57 |
| − OpEx | −$26.7k | −$3.39 |
| NOI | $80.1k | $10.18 |
7,874 SF · lease $17.40/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.14M
$1.00M – $1.34M
NOI $80,149 @ 7.0% cap · market cap 3.56%
Second Best
Healthcare Medical
$978.6K
$856.2K – $1.14M
NOI $68,499 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,671 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar For Sale Nearby
FAQs
What type of property is this?
Medical Office Space - More than 10 acres along US Highway 27 with three maintained buildings and paved parking for medical or professional use.
Where is this medical office space located?
The property is located at 1346 US 27 Lake Placid, FL.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: More than 10 acres with prime US Highway 27 frontage and a dedicated highway crossover with deceleration lanes in both directions; Three existing buildings totaling 7,874 SF built in 1989 and maintained in good, clean condition; Current configuration includes 40 paved parking spaces for medical or professional use
