Medical Office Building For
For Sale
$1,075,000
261 E AIRPORT BOULEVARD, Sanford, FL 32773
Free-standing medical office building with ample parking and highway access.
Property Size3,452 SF
Lot Size1.32 Acres
Price / SF$311.41
Days on Market541
Property Features for 261 E AIRPORT BOULEVARD
General Information
Standard status
Active
Size
3,452 SF
Lot size
1.32 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$14,339
Building Details
Year Built
1980
Listing Agency:
ORLANDO GOLF ESTATES
(407) 592-7296
Listed By:
Scott Langevin · License #699270
(407) 592-7296
Source:
Exitrealty
Added: Feb 14, 2025
Changed: Aug 8
Last Checked: Aug 9 at 6:36AM
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 ORLANDO GOLF ESTATES
Investment Insights
Based on property information with market context.
This free-standing commercial building, currently used as a 3452 square foot medical office, is available for sale. The property benefits from its location and close access to SR 417 and US 17-92. It features 46 parking spaces and is situated on a 1.32-acre lot with GC2 zoning and frontage on Airport Blvd, potentially offering multiple commercial opportunities.
Key Highlights
- Fantastic location with close access to SR 417 & US 17‑92.
- 3,452 square foot free standing commercial building.
- 1.32 acres with GC2 zoning & Airport Blvd Frontage offering multiple commercial opportunities.
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
$51,573
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
4.80%
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%
$1,031,460
$1.0M
Cap Rate 7%
$736,757
$736.8K
Cap Rate 9%
$573,033
$573.0K
Market Conditions
NOI Build-Up for 3,452 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
$82.8K $24.00/SF
− Vacancy
−$14.1K −$4.08/SF
EGI
$68.8K $19.92/SF
− OpEx
−$17.2K −$4.98/SF
NOI
$51.6K $14.94/SF
Area
Seminole 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 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%
$1,031,460
Cap Rate 7%
$736,757
Cap Rate 9%
$573,033
Alternative Uses
Best Use
Office B
$736.8K
$644.7K – $859.6K
NOI $51,573 @ 7.0% cap · market cap 4.80%
Second Best
Healthcare Medical
$703.0K
$615.2K – $820.2K
NOI $49,212 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$982.3K
$859.6K – $1.15M
NOI $68,764 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32773, FL
33,990
Population
13,402
Households
2.5
Avg Household Size
36
Median Age
24%
College-Educated
88%
High-School Grad
27.6 sq mi
ZIP Area
1,232
Density / Sq Mi
$63,496
Median Household Income
$40,479
Median Earnings
$1,482
Median Rent
$259,600
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.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Free-standing medical office building with ample parking and highway access.
Where is this medical office space located?
The property is located at 261 E AIRPORT BOULEVARD Sanford, FL.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Fantastic location with close access to SR 417 & US 17‑92.; 3,452 square foot free standing commercial building.; 1.32 acres with GC2 zoning & Airport Blvd Frontage offering multiple commercial opportunities.
