Three-Suite Office
New
For Sale
$975,000
1621 E VINE STREET, Kissimmee, FL 34744
Separate electric meters and A/C systems serve each office suite.
Property Size3,300 SF
Price / SF$293.59
Days on Market6
Property Features for 1621 E VINE STREET
General Information
Standard status
Active
Size
3,300 SF
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
3
Amenities
0.11 acres, Central Business District, Paved, Mature Landscaping, Oak Trees
Shingle
Public Sewer
Additional parcels description:, Parcel Number: 23-25-29-1992-0001-0030, Public Survey Range: 29, Public Survey Section: 23, Annual Amount: $5,507.42, Tax Block: 0001, Tax Book Number: 0002/0277, Legal Description: POINT EAST PB 2 PG 277 LOT 3 & A STRIP OF LAND 0.8 FT WIDE LYING WLY & ADJACENT, Lot: 0030, Year: 2025, Zoning: KMPU
Central Air
Central
Listing ID: MFRS5158062, Standard Status: Active, MLS Status: Active, Property Subtype: Office, On market as of 2026-09-22, Special Conditions: None
Built in 1982, Living area: 3321, Living area units: Square Feet, Levels: One, Construction Materials: Block, Brick
Subdivision: POINT EAST, MLS Area (Major): 34744 - Kissimmee, County/Parish: Osceola
Completed
Water Source: Public, Service - 110 Volts
Slab
Frontage Type: County Road, Highway, Road Surface: Asphalt
Building Details
Year Built
1982
Buildings
1
Building Size
3,300 SF
Tenancy
Multi
Listing Agency:
THE REALTY EXPERIENCE POWERED BY LRR
(407) 399-2055
Listed By:
Milissa Ogeerally · License #3571838
(407) 634-6774
Source:
Miharaandassociates
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 9:51AM
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 THE REALTY EXPERIENCE POWERED BY LRR
Investment Insights
Based on property information with market context.
This 3,321-square-foot office building, constructed in 1982, contains three suites. Each suite has its own electric meter and A/C system. Two businesses currently occupy the property; one uses two suites, while the third suite is also part of the three-suite layout.
The property is along US-192, also known as W. Irlo Bronson Memorial Hwy, near Old Boggy Creek Road and the Neo City Way connection and signalized intersection.
The property is along US-192, also known as W. Irlo Bronson Memorial Hwy, near Old Boggy Creek Road and the Neo City Way connection and signalized intersection.
Key Highlights
- 3,321‑square‑foot office building built in 1982
- Three office suites, each with an individual electric meter and A/C system
- Two businesses currently occupy the property; one business uses two suites
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
$49,616
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
5.09%
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%
$992,320
$992.3K
Cap Rate 7%
$708,800
$708.8K
Cap Rate 9%
$551,289
$551.3K
Market Conditions
NOI Build-Up for 3,321 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
$79.7K $24.00/SF
− Vacancy
−$13.5K −$4.08/SF
EGI
$66.2K $19.92/SF
− OpEx
−$16.5K −$4.98/SF
NOI
$49.6K $14.94/SF
Area
Osceola 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%
$992,320
Cap Rate 7%
$708,800
Cap Rate 9%
$551,289
Alternative Uses
Best Use
Office B
$708.8K
$620.2K – $826.9K
NOI $49,616 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.03M
$898.5K – $1.20M
NOI $71,883 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
461
Businesses Nearby
Explore this area
Business Placement
Demographics for 34744, FL
59,232
Population
22,800
Households
2.6
Avg Household Size
38
Median Age
26%
College-Educated
87%
High-School Grad
33.3 sq mi
ZIP Area
1,779
Density / Sq Mi
$69,837
Median Household Income
$35,174
Median Earnings
$1,426
Median Rent
$326,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Separate electric meters and A/C systems serve each office suite.
Where is this office building located?
The property is located at 1621 E VINE STREET Kissimmee, FL.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 3,321‑square‑foot office building built in 1982; Three office suites, each with an individual electric meter and A/C system; Two businesses currently occupy the property; one business uses two suites
