Medical Office Conversion
For Sale
$499,000
2231 NAIRN DRIVE, Winter Park, FL 32792
Medical office conversion site directly across from Advent Health Winter Park Hospital with professional office future land use.
Property Size1,088 SF
Price / SF$458.64
Days on Market101
Property Features for 2231 NAIRN DRIVE
General Information
Standard status
Active
Size
1,088 SF
Property subtype
Medical Office
Building Details
Year Built
1956
Listing Agency:
PARK TOWN REAL ESTATE LLC
(561) 801-9199
Listed By:
David Auerbach · License #3397451
(407) 619-5250
Source:
Dennisrealty
Added: Jul 21
Changed: Oct 29
Last Checked: Oct 28 at 6:51AM
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 PARK TOWN REAL ESTATE LLC
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Investment Insights
Based on property information with market context.
This property presents a medical office conversion opportunity with an existing building that can be used for professional office purposes or as a site for future medical or office development. The offering is supported by a professional office future land use designation and includes the stated opportunity to assemble the adjacent parcel.
Located at 2231 Nairn Drive in Winter Park, the property sits directly across from Advent Health Winter Park Hospital and is described as having outstanding visibility within a healthcare corridor.
For prospective buyers seeking a redevelopment or conversion project tied to the surrounding hospital environment, this site offers a straightforward starting point with the flexibility described in the remarks and the potential to control additional adjacent land via assembly.
Located at 2231 Nairn Drive in Winter Park, the property sits directly across from Advent Health Winter Park Hospital and is described as having outstanding visibility within a healthcare corridor.
For prospective buyers seeking a redevelopment or conversion project tied to the surrounding hospital environment, this site offers a straightforward starting point with the flexibility described in the remarks and the potential to control additional adjacent land via assembly.
Key Highlights
- 1956‑built building positioned for medical office conversion or future medical/office development.
- Located directly across from AdventHealth Winter Park Hospital.
- Future land use: Professional Office.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,255
Cap Rate
3.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$325,100
$325.1K
Cap Rate 7%
$232,214
$232.2K
Cap Rate 9%
$180,611
$180.6K
Market Conditions
NOI Build-Up for 1,088 SF
Gross rent
$26.1K $24.00/SF
− Vacancy
−$4.4K −$4.08/SF
EGI
$21.7K $19.92/SF
− OpEx
−$5.4K −$4.98/SF
NOI
$16.3K $14.94/SF
Area
Orange 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 Rate 5%
$325,100
Cap Rate 7%
$232,214
Cap Rate 9%
$180,611
Alternative Uses
Best Use
Office B
$232.2K
$203.2K – $270.9K
NOI $16,255 @ 7.0% cap · market cap 3.26%
Second Best
Healthcare Medical
$221.6K
$193.9K – $258.5K
NOI $15,511 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$309.6K
$270.9K – $361.2K
NOI $21,673 @ 7.0% cap · market cap 4.34%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,666
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 32792, FL
51,376
Population
24,169
Households
2.1
Avg Household Size
36
Median Age
42%
College-Educated
91%
High-School Grad
12.1 sq mi
ZIP Area
4,246
Density / Sq Mi
$66,176
Median Household Income
$39,326
Median Earnings
$1,612
Median Rent
$343,500
Median Home Value
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office conversion site directly across from Advent Health Winter Park Hospital with professional office future land use.
Where is this medical office space located?
The property is located at 2231 NAIRN DRIVE Winter Park, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 1956‑built building positioned for medical office conversion or future medical/office development.; Located directly across from AdventHealth Winter Park Hospital.; Future land use: Professional Office.
