Dental Office in Busy
For Sale
$649,900
2921 S ORLANDO Dr 146, Sanford, FL 32773
Retail storefront dental office in a high-traffic shopping center.
Property Size2,000 SF
Days on Market143
Property Features for 2921 S ORLANDO Dr 146
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$1,996
Building Details
Building Size
2,000 SF
Year Built
1965
Listing Agency:
EXCLUSIVE REAL ESTATE
Listed By:
Robert Kilcourse
(407) 230-5255
Source:
Elliman
Added: Apr 24
Changed: Sep 10
Last Checked: Sep 12 at 9:06AM
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 EXCLUSIVE REAL ESTATE
Investment Insights
Based on property information with market context.
This retail storefront is located in a busy strip mall shopping center at the intersection of 17-92 and the 417 overpass. The property is a custom-built dental office featuring five operatories, four digital X-ray units, and a digital panoramic system. The location benefits from high visibility and foot traffic. There is an extra-large parking area with green space directly in front of the unit, as well as a parking area at the rear entrance. The current dentist owner has retired, presenting an opportunity for dentists. The condo fees are $150 per month. The location has a bike score of 41, indicating it is somewhat bikeable, a walk score of 47, indicating car dependence, and a transit score of 23, indicating minimal transit options.
Key Highlights
- Fully Equipped Five Operatory Dental Office with Digital X‑Ray Units: Ready for immediate use.
- Prime Retail Storefront Location: High visibility and foot traffic in a busy strip mall.
- Extremely Low Condo Fees: Only $150/month in a busy shopping center.
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
$39,274
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
6.04%
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%
$785,480
$785.5K
Cap Rate 7%
$561,057
$561.1K
Cap Rate 9%
$436,378
$436.4K
Market Conditions
NOI Build-Up for 2,000 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
$58.1K $29.04/SF
− Vacancy
−$2.0K −$0.99/SF
EGI
$56.1K $28.05/SF
− OpEx
−$16.8K −$8.42/SF
NOI
$39.3K $19.64/SF
Area
Seminole County, FL
Vacancy
3.40%
Lease Rate
$29.04 /SF/Yr
Expense Ratio
30.00%
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%
$785,480
Cap Rate 7%
$561,057
Cap Rate 9%
$436,378
Alternative Uses
Best Use
Retail
$561.1K
$490.9K – $654.6K
NOI $39,274 @ 7.0% cap · market cap 6.04%
Second Best
Office B
$426.9K
$373.5K – $498.0K
NOI $29,880 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$569.1K
$498.0K – $664.0K
NOI $39,840 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
427
Businesses Nearby
Under-served
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Storefront property - Retail storefront dental office in a high-traffic shopping center.
Where is this storefront property located?
The property is located at 2921 S ORLANDO Dr 146 Sanford, FL.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Fully Equipped Five Operatory Dental Office with Digital X‑Ray Units: Ready for immediate use.; Prime Retail Storefront Location: High visibility and foot traffic in a busy strip mall.; Extremely Low Condo Fees: Only $150/month in a busy shopping center.
