Medical Office
For Sale
Contact for pricing
1400 S Park Ave, Sanford, FL 32771
Healthcare-oriented property in Sanford’s Historic District with connectivity to US-17-92, SR-46, and Interstate 4.
Property Size2,150 SF
Price / SF$255.81
Days on Market158
Property Features for 1400 S Park Ave
General Information
Standard status
Active
Size
2,150 SF
Total Parking Spaces
20
Property subtype
Office
Zoning
SR1
Investment Type
Owner/User
Additional Details
Highway Access
Yes
Building Details
Year Built
1963
Year Renovated
1970
Buildings
1
Stories
1
Listing Agency:
ISL Commercial Real Estate
(407) 777-3133
Listed By:
Oren Stephen · License #BK3315243
Source:
Crexi
Added: Mar 27
Changed: Aug 30
Last Checked: Aug 30 at 9:17AM
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 ISL Commercial Real Estate
Investment Insights
Based on property information with market context.
This medical office building at 1400 S Park Ave provides a healthcare-oriented property within Sanford’s Historic District. The medical-compatible layout supports multiple healthcare uses, offering flexibility for medical occupancy or owner-user operations. The building was constructed in 1963 and is zoned SR1.
The property is positioned along Park Avenue in Sanford, within Seminole County and near Downtown Sanford. Regional access includes US-17-92, SR-46, and Interstate 4, while surrounding residential areas and an established concentration of healthcare and professional services provide relevant local context. Sanford Airport is approximately 2.7 miles away, with an estimated six-minute drive.
The property is positioned along Park Avenue in Sanford, within Seminole County and near Downtown Sanford. Regional access includes US-17-92, SR-46, and Interstate 4, while surrounding residential areas and an established concentration of healthcare and professional services provide relevant local context. Sanford Airport is approximately 2.7 miles away, with an estimated six-minute drive.
Key Highlights
- Medical‑compatible layout supports multiple healthcare uses
- Located in Sanford’s Historic District at 1400 S Park Ave
- Zoned SR1
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
$32,121
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
5.84%
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%
$642,420
$642.4K
Cap Rate 7%
$458,871
$458.9K
Cap Rate 9%
$356,900
$356.9K
Market Conditions
NOI Build-Up for 2,150 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
$51.6K $24.00/SF
− Vacancy
−$8.8K −$4.08/SF
EGI
$42.8K $19.92/SF
− OpEx
−$10.7K −$4.98/SF
NOI
$32.1K $14.94/SF
Area
Seminole County, FL
Vacancy
17.00%
Lease Rate
$24.00 /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%
$642,420
Cap Rate 7%
$458,871
Cap Rate 9%
$356,900
Alternative Uses
Best Use
Office B
$458.9K
$401.5K – $535.4K
NOI $32,121 @ 7.0% cap · market cap 5.84%
Second Best
Healthcare Medical
$437.9K
$383.1K – $510.8K
NOI $30,650 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$611.8K
$535.4K – $713.8K
NOI $42,828 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
658
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32771, FL
57,178
Population
24,062
Households
2.4
Avg Household Size
37
Median Age
35%
College-Educated
91%
High-School Grad
37.5 sq mi
ZIP Area
1,525
Density / Sq Mi
$74,520
Median Household Income
$43,321
Median Earnings
$1,584
Median Rent
$332,500
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?
Medical Office Space - Healthcare-oriented property in Sanford’s Historic District with connectivity to US-17-92, SR-46, and Interstate 4.
Where is this medical office space located?
The property is located at 1400 S Park Ave Sanford, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Medical‑compatible layout supports multiple healthcare uses; Located in Sanford’s Historic District at 1400 S Park Ave; Zoned SR1
