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    Medical Office Build-to-Suit Opportunity Title is generated by Realmo AI

    1691 Lee Rd, Winter Park, FL 32789

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    New construction Class A medical office space for lease.

    Type:Office
    Property size:
    9,960 SF
    Added:
    Aug 10, 2023
    Days on Market:
    1016
    Last Refresh:
    May 12 at 9:53 pm

    Property Features for 1691 Lee Rd

    General Information

    Standard status
    Active
    Size
    9,960 SF
    Property subtype
    Office

    Building Details

    Year Built
    2025

    Spaces For Lease

    at 1691 Lee Rd Contact us

    We can help!

    Listing Contact
    Robert Morris

    Listing agent Robert Morris License #CQ1074467

    Listing office SVN | Commercial Advisory Group Sarasota

    Listing date Aug 10, 2023

    Source Crexi

    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 SVN | Commercial Advisory Group Sarasota

    HighLights

    • Build‑to‑suit Class A medical office space (surgery center or medical practice).
    • Prime location on high‑traffic Lee Road corridor with significant growth.
    • Approved building and engineering plan with horizontal infrastructure in place.
    • Ample surface parking (5:1,000 ratio) and building/monument signage.
    • Full buildout allowances available.
    • Anticipated delivery Q2‑Q3 2026.

    Overview

    This is a build-to-suit opportunity for a surgery center or medical office in a new construction Class A medical office property located on the Lee Road corridor. The approved building and engineering plan includes approximately 9,960 square feet of space on two floors, with all horizontal infrastructure already in place. The location benefits from significant residential and commercial growth in the area. Building and Lee Road monument signage will be available. Ample surface parking will provide accessibility for patients, with a parking ratio of 5:1,000. Full buildout allowances are available. The property is offered under a NNN lease, with rent negotiable depending upon use and buildout allowance. Anticipated delivery is Q2-Q3 2026.
    Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Winter Park Veterinary Hospital: Mclean Sarah DVM — 1601 lee rd, winter park, fl 32789
    • Winter Park Veterinary Hospital — 1601 Lee Rd, Winter Park, FL 32789
    • Petco Vaccination Clinic — 501 N Orlando Ave Suite 145, Winter Park, FL 32789
    • Winter Park Vet Wellness Center — 1613 Lee Rd, Winter Park, FL 32789
    • Winter Park Veterinary Urgent Care — 1601 Lee Rd, Winter Park, FL 32789

    Location Insight

    • Map
    • Local Demand
    City
    Winter Park
    County
    Orange
    State
    Florida
    Longitude
    -81.407957
    Latitude
    28.603046

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    FAQs

    What type of property is this?
    Medical Office Space - New construction Class A medical office space for lease.
    Where is this medical office space located?
    The property is located at 1691 Lee Rd Winter Park, FL.
    What are key features of this property?
    This property features: Build‑to‑suit Class A medical office space (surgery center or medical practice).; Prime location on high‑traffic Lee Road corridor with significant growth.; Approved building and engineering plan with horizontal infrastructure in place.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Robert Morris
    Real Estate License ID: CQ1074467
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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