Dental Office in Busy
For Sale
$649,900
2921 S ORLANDO DRIVE #146, Sanford, FL 32773
Retail storefront dental office in a busy shopping center.
Property Size2,000 SF
Lot Size0.05 Acres
Price / SF$324.95
Days on Market213
Property Features for 2921 S ORLANDO DRIVE #146
General Information
Standard status
Active
Size
2,000 SF
Lot size
0.05 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$1,997
Amenities
Central air
Pool
Public Pool
Central Air Cooling
Building Details
Year Built
1965
Listing Agency:
EXCLUSIVE REAL ESTATE
(407) 767-9000
Listed By:
ROBERT KILCOURSE
Source:
Corcoran
Added: Jan 8
Changed: Aug 8
Last Checked: Aug 8 at 1:21PM
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 2,000-square-foot retail storefront is located in a busy strip mall shopping center at the intersection of 17-92 and the 417 overpass. The property benefits from high visibility and foot traffic. The interior is a custom-built dental office featuring five operatories with four digital X-ray units and a digital panoramic system, along with all supporting instruments. The current dentist owner has retired, presenting a great opportunity for dentists. The condominium has extremely low condo fees of only $150 per month. The location offers excellent accessibility and a thriving community with diverse neighboring businesses. An extra-large parking area with green space is located directly in front of the unit, with an additional parking area at the rear entrance.
Key Highlights
- Prime retail storefront location at the intersection of 17‑92 and the 417 overpass in a busy strip mall shopping center.
- Custom‑built five operatory dental office with 4 digital X‑ray units and digital pan.
- Extremely low condo fees of only $150/month.
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
427
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Strip mall - Retail storefront dental office in a busy shopping center.
Where is this strip mall located?
The property is located at 2921 S ORLANDO DRIVE #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: Prime retail storefront location at the intersection of 17‑92 and the 417 overpass in a busy strip mall shopping center.; Custom‑built five operatory dental office with 4 digital X‑ray units and digital pan.; Extremely low condo fees of only $150/month.
