Medical Office Redevelopment
For Sale
$699,000
420 W Cherry Street, Kissimmee, FL 34741
Fire-damaged medical district property in downtown Kissimmee, with owners evaluating demolition to create a cleared redevelopment site.
Property Size1,751 SF
Lot Size0.86 Acres
Price / SF$399.20
Days on Market910
Property Features for 420 W Cherry Street
General Information
Standard status
Active
Size
1,751 SF
Lot size
0.86 Acres
Property subtype
Commercial
Building Details
Year Built
1955
Listing Agency:
KELLER WILLIAMS LEGACY REALTY
(407) 908-6671
Listed By:
Teresa Reilly-O'Doherty · License #476746
Source:
Realtygroupfl
Added: Feb 5, 2024
Changed: Jul 31
Last Checked: Aug 2 at 2:53PM
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 KELLER WILLIAMS LEGACY REALTY
Investment Insights
Based on property information with market context.
Located in the heart of Kissimmee’s Medical District in downtown Kissimmee, this commercial property is positioned for redevelopment. The existing structure sustained severe fire damage, and the owners are evaluating demolition to deliver a cleared site ready for new construction.
The property sits on two combined parcels totaling approximately 0.86 acres and includes an existing building of approximately 1,751 SF. The site is intended to provide ample parking and the flexibility to design and construct a facility to fit a new tenant’s or owner-user’s needs.
Surrounded by established healthcare providers and medical offices, the location is well-suited for a medical practice, professional office, owner-user, or investor developing in a healthcare corridor.
The property sits on two combined parcels totaling approximately 0.86 acres and includes an existing building of approximately 1,751 SF. The site is intended to provide ample parking and the flexibility to design and construct a facility to fit a new tenant’s or owner-user’s needs.
Surrounded by established healthcare providers and medical offices, the location is well-suited for a medical practice, professional office, owner-user, or investor developing in a healthcare corridor.
Key Highlights
- Severe fire damage; owners evaluating demolition for a cleared redevelopment site
- Two combined parcels totaling approximately 0.86 acres
- Existing building size of approximately 1,751 SF
Financial Insights For Healthcare Medical
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 | $41.0k | $23.40 |
| − Vacancy | −$4.3k | −$2.46 |
| EGI | $36.7k | $20.94 |
| − OpEx | −$14.7k | −$8.38 |
| NOI | $22.0k | $12.57 |
1,751 SF · lease $23.40/SF/yr · vacancy 10.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$314.3K
$275.0K – $366.7K
NOI $22,003 @ 7.0% cap · market cap 3.15%
Second Best
Office B
$307.3K
$268.9K – $358.5K
NOI $21,511 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$420.8K
$368.2K – $490.9K
NOI $29,455 @ 7.0% cap · market cap 4.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,669
Businesses Nearby
Balanced
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fire-damaged medical district property in downtown Kissimmee, with owners evaluating demolition to create a cleared redevelopment site.
Where is this medical office space located?
The property is located at 420 W Cherry Street Kissimmee, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Severe fire damage; owners evaluating demolition for a cleared redevelopment site; Two combined parcels totaling approximately 0.86 acres; Existing building size of approximately 1,751 SF
