22-Unit Multifamily
For Sale
Contact for pricing
2218 GRAND CAYMAN COURT, Kissimmee, FL 34741
Villa del Sol provides pool, fitness, tennis, playground, and car wash amenities for residents and guests.
Property Size20,092 SF
Days on Market304
Property Features for 2218 GRAND CAYMAN COURT
General Information
Standard status
Active
Size
20,092 SF
Property subtype
Multi-Family 5+
Additional Details
Multifamily Units
22
Taxes and HOA fees
Annual Taxes
$53,406
Amenities
pool
fitness center
tennis court
playground
car wash area
Building Details
Building Size
20,092 SF
Year Built
1999
Listing Agency:
LPT REALTY, LLC
(407) 962-5738
Listed By:
Victor Avila · License #3372973
Source:
Thefullerproperties
Added: Oct 23, 2025
Changed: Aug 14
Last Checked: Aug 21 at 11:50AM
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 LPT REALTY, LLC
Investment Insights
Based on property information with market context.
This 22-unit multifamily portfolio is located within Villa del Sol in Kissimmee, Florida. The community includes a swimming pool, fitness center, tennis court, playgrounds, and a car wash area. The property was built in 1999.
Villa del Sol permits short-term rentals, supporting both conventional residential occupancy and vacation rental operations. The community is near malls, shopping, dining, and entertainment, with Disney World less than 20 minutes away. The portfolio is situated at 2218 Grand Cayman Court, Kissimmee, FL 34741.
Villa del Sol permits short-term rentals, supporting both conventional residential occupancy and vacation rental operations. The community is near malls, shopping, dining, and entertainment, with Disney World less than 20 minutes away. The portfolio is situated at 2218 Grand Cayman Court, Kissimmee, FL 34741.
Key Highlights
- 22‑unit multifamily portfolio in Villa del Sol
- Short‑term rentals approved within the community
- Community pool, fitness center, and tennis court
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
$190,310
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
5.30%
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%
$3,806,200
$3.8M
Cap Rate 7%
$2,718,714
$2.7M
Cap Rate 9%
$2,114,556
$2.1M
Market Conditions
NOI Build-Up for 20,092 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
$368.9K $18.36/SF
− Vacancy
−$22.9K −$1.14/SF
EGI
$346.0K $17.22/SF
− OpEx
−$155.7K −$7.75/SF
NOI
$190.3K $9.47/SF
Area
Polk County, FL
Vacancy
6.20%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
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%
$3,806,200
Cap Rate 7%
$2,718,714
Cap Rate 9%
$2,114,556
Alternative Uses
Best Use
Apartment 5plus
$2.72M
$2.38M – $3.17M
NOI $190,310 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.83M
$4.22M – $5.63M
NOI $337,980 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
22
Residential units
Location Intelligence
Trade Area within ½ mile
731
Businesses Nearby
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Villa del Sol provides pool, fitness, tennis, playground, and car wash amenities for residents and guests.
Where is this multifamily property located?
The property is located at 2218 GRAND CAYMAN COURT Kissimmee, FL.
What is the asking price?
The asking price for this property is $3,589,997.
What are key features of this property?
This property features: 22‑unit multifamily portfolio in Villa del Sol; Short‑term rentals approved within the community; Community pool, fitness center, and tennis court
