Historic Mixed-Use
For Sale
$3,500,000
24 BROADWAY Avenue, Kissimmee, FL 34741
Commercial Sale, KISSIMMEE, FL
Property Size9,966 SF
Lot Size0.16 Acres
Price / SF$351.19
Days on Market176
Property Features for 24 BROADWAY Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
T5-M
Subdivision
SOUTH FLORIDA RAILROAD COMPANYS TOWN OF KISSIMMEE
Directions
John Young parkway south, left on Emmett, turns into Broadway. Building on right. Parking garage is right on E Darlington and straight ahead free parking.
Standard status
Active
APN
22-25-29-2170-0018-0010
Size
9,966 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
S FLA RR SURVEY PB A PG 03 BEG AT MOST WLY COR OF LOT 1 BLK 18, S 47 DEG E 71 FT, N 43 DEG E 10 FT, S 47 DEG E 3 FT, N 43 DEG E 13.75 FT, S 47 DEG E 29 FT, N 43 DEG E 21 FT, N 47 DEG W 6 FT, N 43 DEG E 30.25 FT, N 47 DEG W 97 FT, S 43 DEG W 75 FT MOL TO POB
Tax Annual Amount
29270
Legal Description
S FLA RR SURVEY PB A PG 03 BEG AT MOST WLY COR OF LOT 1 BLK 18, S 47 DEG E 71 FT, N 43 DEG E 10 FT, S 47 DEG E 3 FT, N 43 DEG E 13.75 FT, S 47 DEG E 29 FT, N 43 DEG E 21 FT, N 47 DEG W 6 FT, N 43 DEG E 30.25 FT, N 47 DEG W 97 FT, S 43 DEG W 75 FT MOL TO POB
Utilities
Cooling system
Central Air
Amenities
walking deck on the rooftop
Building Details
Year built
1910
Floors in Building
2
Building materials
Brick
Roof type
Membrane
Listing Agency:
THE PROPERTY PROS REAL ESTATE, INC
(407) 879-7591
Listed By:
Christie Gisondi · License #3172930
(321) 544-5466
Added: Mar 5
Changed: Aug 24
Last Checked: Aug 28 at 11:06AM
MLS# O6389308
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property comprises two two-story brick buildings totaling 9,966 square feet on a 0.16-acre site. Improvements include renovated flooring in some second-story office suites, updated bathrooms, two HVAC units, a newer membrane roof, exterior paint, and a rooftop walking deck. The property includes two restaurants or bars, a third retail space that is currently leased, and an apartment with a full kitchen and bathroom that is presently used as an office.
T5-M zoning supports retail, restaurants, offices, residential uses above retail, and hospitality within the same building, with vertical development permitted. The site is in Downtown Kissimmee’s redevelopment area and benefits from reduced parking requirements, shared parking, and access to a public garage behind the property. CRA grant programs are available for facade improvements, restaurant buildouts, historic preservation, and rooftop activation for bars, patios, and events.
T5-M zoning supports retail, restaurants, offices, residential uses above retail, and hospitality within the same building, with vertical development permitted. The site is in Downtown Kissimmee’s redevelopment area and benefits from reduced parking requirements, shared parking, and access to a public garage behind the property. CRA grant programs are available for facade improvements, restaurant buildouts, historic preservation, and rooftop activation for bars, patios, and events.
Key Highlights
- 9,966‑square‑foot mixed‑use property on 0.16 acres
- Two two‑story brick buildings with retail, restaurant, office, and residential‑over‑retail components
- T5‑M zoning supports retail, restaurants, offices, residential above retail, hospitality, and vertical development
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
$129,572
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
3.70%
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%
$2,591,440
$2.6M
Cap Rate 7%
$1,851,029
$1.9M
Cap Rate 9%
$1,439,689
$1.4M
Market Conditions
NOI Build-Up for 9,966 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
$185.4K $18.60/SF
− Vacancy
−$12.6K −$1.26/SF
EGI
$172.8K $17.34/SF
− OpEx
−$43.2K −$4.33/SF
NOI
$129.6K $13.00/SF
Area
Polk County, FL
Vacancy
6.80%
Lease Rate
$18.60 /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%
$2,591,440
Cap Rate 7%
$1,851,029
Cap Rate 9%
$1,439,689
Alternative Uses
Best Use
Specialty Retail
$1.85M
$1.62M – $2.16M
NOI $129,572 @ 7.0% cap · market cap 3.70%
Second Best
Office B
$1.75M
$1.53M – $2.04M
NOI $122,432 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$2.39M
$2.10M – $2.79M
NOI $167,644 @ 7.0% cap · market cap 4.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,279
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two connected buildings combine retail, restaurant, office, and residential-over-retail potential under T5-M zoning.
Where is this mixed-use property located?
The property is located at 24 BROADWAY Avenue Kissimmee, FL.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 9,966‑square‑foot mixed‑use property on 0.16 acres; Two two‑story brick buildings with retail, restaurant, office, and residential‑over‑retail components; T5‑M zoning supports retail, restaurants, offices, residential above retail, hospitality, and vertical development
