Historic Mixed-Use Property with Rooftop
For Sale
Contact for pricing
24 Broadway, Kissimmee, FL 34741
Two-story buildings offer retail, office, restaurant, and residential-above-retail flexibility.
Property Size11,150 SF
Price / SF$313.90
Days on Market174
Property Features for 24 Broadway
General Information
Standard status
Active
Size
11,150 SF
Class
B
Property subtype
Mixed Use, Office, Retail
Zoning
T5-M
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Value Add
Net Operating Income
$266,480
Additional Details
Patio
Yes
Amenities
rooftop deck
Building Details
Buildings
2
Stories
2
Units
18
Tenancy
Multi
Listing Agency:
The Property Pros Real Estate
(321) 544-5466
Listed By:
Anthony Billitteri · License #FL BK3029078
Source:
Crexi
Added: Mar 10
Changed: Aug 29
Last Checked: Aug 29 at 3:29PM
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 Property Pros Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property comprises two two-story buildings constructed in 1910 and 1920, with 11,150 square feet of combined space. Improvements include flooring in select second-story office suites, remodeled bathrooms, two HVAC units, a newer roof, exterior paint, and a rooftop walking deck. The second building includes an apartment with a full kitchen and bathroom that is currently used as office space. Two active restaurants operate on site, including an end-cap location with a patio.
The property is located at 24 Broadway in downtown Kissimmee and is zoned T5-M. The zoning supports retail, restaurants, office use, residential above retail, and hospitality within the same building, while allowing vertical development. Parking is supported by reduced requirements, shared parking, and a public garage behind the property. CRA grant programs address facade improvements, restaurant buildouts, historic preservation, and rooftop activation for bars, patios, and events.
The property is located at 24 Broadway in downtown Kissimmee and is zoned T5-M. The zoning supports retail, restaurants, office use, residential above retail, and hospitality within the same building, while allowing vertical development. Parking is supported by reduced requirements, shared parking, and a public garage behind the property. CRA grant programs address facade improvements, restaurant buildouts, historic preservation, and rooftop activation for bars, patios, and events.
Key Highlights
- Two two‑story buildings totaling 11,150 square feet, constructed in 1910 and 1920
- T5‑M zoning supports retail, restaurants, office, residential above retail, and hospitality
- Two active restaurants on site, including an end‑cap space with patio
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
$144,966
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
4.14%
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%
$2,899,320
$2.9M
Cap Rate 7%
$2,070,943
$2.1M
Cap Rate 9%
$1,610,733
$1.6M
Market Conditions
NOI Build-Up for 11,150 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
$207.4K $18.60/SF
− Vacancy
−$14.1K −$1.26/SF
EGI
$193.3K $17.34/SF
− OpEx
−$48.3K −$4.33/SF
NOI
$145.0K $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%
$2,899,320
Cap Rate 7%
$2,070,943
Cap Rate 9%
$1,610,733
Alternative Uses
Best Use
Specialty Retail
$2.07M
$1.81M – $2.42M
NOI $144,966 @ 7.0% cap · market cap 4.14%
Second Best
Office B
$1.96M
$1.71M – $2.28M
NOI $136,978 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$2.68M
$2.34M – $3.13M
NOI $187,561 @ 7.0% cap · market cap 5.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,407
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story buildings offer retail, office, restaurant, and residential-above-retail flexibility.
Where is this mixed-use property located?
The property is located at 24 Broadway 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: Two two‑story buildings totaling 11,150 square feet, constructed in 1910 and 1920; T5‑M zoning supports retail, restaurants, office, residential above retail, and hospitality; Two active restaurants on site, including an end‑cap space with patio
