Well-Maintained Medical Office
For Sale
$6,000,000
2984 Alafaya Trail, Oviedo, FL 32765
A fully leased medical office building with multiple suites, generous parking, and frontage on a major six-lane corridor.
Property Size19,600 SF
Price / SF$306.12
Days on Market279
Property Features for 2984 Alafaya Trail
General Information
Standard status
Active
Size
19,600 SF
Property subtype
Commercial
Building Details
Year Built
2005
Listing Agency:
RATCLIFF PROPERTIES
Listed By:
Stephen Ratcliff · License #500930
(407) 365-8795
Source:
Realtygroupfl
Added: Jan 11
Changed: Oct 16
Last Checked: Oct 16 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 RATCLIFF PROPERTIES
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This well-maintained medical office building offers seven medical office suites within a concrete block structure under a tile roof. The layout includes open corridors, a portico, and landscaped grounds. Suite sizes vary, supporting a range of medical and office configurations. The property also includes generous parking to support patient and staff access.
The building is located on 2.79 acres fronting a six-laned Alafaya Trail (SR 434). The property’s exterior presentation is supported by maintained grounds and an organized site arrangement, designed to serve a medical office environment.
The building is fully leased, making it a straightforward option for buyers seeking an income-producing medical office asset. The owner is also offering financing with a 30-year amortization at 5%, which may help reduce some acquisition friction such as loan procurement and related costs. With seven separate suites, the property may also appeal to operators or investors looking for flexibility in tenant mix within a dedicated medical office setting.
The building is located on 2.79 acres fronting a six-laned Alafaya Trail (SR 434). The property’s exterior presentation is supported by maintained grounds and an organized site arrangement, designed to serve a medical office environment.
The building is fully leased, making it a straightforward option for buyers seeking an income-producing medical office asset. The owner is also offering financing with a 30-year amortization at 5%, which may help reduce some acquisition friction such as loan procurement and related costs. With seven separate suites, the property may also appeal to operators or investors looking for flexibility in tenant mix within a dedicated medical office setting.
Key Highlights
- Fully leased 19,600 SF medical office building with seven suites
- Seven medical office suites totaling 1,046 SF to 3,756 SF per suite
- Located on 2.79 acres with frontage on 6‑laned Alafaya Trail (SR 434)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$292,824
Cap Rate
4.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,856,480
$5.9M
Cap Rate 7%
$4,183,200
$4.2M
Cap Rate 9%
$3,253,600
$3.3M
Market Conditions
NOI Build-Up for 19,600 SF
Gross rent
$470.4K $24.00/SF
− Vacancy
−$80.0K −$4.08/SF
EGI
$390.4K $19.92/SF
− OpEx
−$97.6K −$4.98/SF
NOI
$292.8K $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 Rate 5%
$5,856,480
Cap Rate 7%
$4,183,200
Cap Rate 9%
$3,253,600
Alternative Uses
Best Use
Office B
$4.18M
$3.66M – $4.88M
NOI $292,824 @ 7.0% cap · market cap 4.88%
Second Best
Healthcare Medical
$3.99M
$3.49M – $4.66M
NOI $279,418 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$5.58M
$4.88M – $6.51M
NOI $390,432 @ 7.0% cap · market cap 6.51%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
320
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32765, FL
65,228
Population
23,389
Households
2.8
Avg Household Size
36
Median Age
53%
College-Educated
96%
High-School Grad
39.0 sq mi
ZIP Area
1,673
Density / Sq Mi
$99,161
Median Household Income
$48,595
Median Earnings
$1,870
Median Rent
$418,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Alafaya Trail Animal Hospital — 2985 Alafaya Trail, Oviedo, FL 32765
- Lannes Jessica L DVM — 2985 Alafaya Trail, Oviedo, FL 32765
Frequently Asked Questions
What type of property is this?
Medical Office Space - A fully leased medical office building with multiple suites, generous parking, and frontage on a major six-lane corridor.
Where is this medical office space located?
The property is located at 2984 Alafaya Trail Oviedo, FL.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: Fully leased 19,600 SF medical office building with seven suites; Seven medical office suites totaling 1,046 SF to 3,756 SF per suite; Located on 2.79 acres with frontage on 6‑laned Alafaya Trail (SR 434)
