Well-Maintained Medical Office
For Sale
$6,000,000
2984 Alafaya Trail OVIEDO, Oviedo, FL 32765
Well-maintained medical office building with seven suites, portico, and generous parking on landscaped acreage.
Property Size19,600 SF
Price / SF$375.94
Days on Market65
Property Features for 2984 Alafaya Trail OVIEDO
General Information
Standard status
Active
Size
19,600 SF
Zoning
C-2
Taxes and HOA fees
Annual Taxes
$26,029
Amenities
2
true
2.7888
2.79
false
Asphalt
Slab
State Road
19600
1
Building Details
Building Size
19,600 SF
Year Built
2005
Buildings
1
Stories
2
Listed By:
Valeria Poore
(904) 569-5862
Source:
Movetojacksonville
Added: Jul 4
Changed: Sep 6
Last Checked: Sep 6 at 4:03AM
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 Valeria Poore
Investment Insights
Based on property information with market context.
Beautifully maintained medical office building totaling 19,600 square feet, set on 2.79 acres and fronting a six-laned roadway. The property features concrete block construction with a tile roof, open corridors, and landscaped grounds. Seven medical office suites are available within the building, with suite sizes ranging from 1,046 square feet to 3,756 square feet. A portico and generous parking support convenient patient and staff access.
Located at 2984 Alafaya Trail in Oviedo, Florida, the building provides frontage on Alafaya Trail (SR 434). The site is fully developed and maintained, offering a professional setting for healthcare-related offices.
This property is presented for sale with owner financing available, including a 30-year amortization at 5% as stated in the remarks. With the building identified as fully leased, it may be suitable for buyers seeking a turn-key medical office asset. The overall suite configuration and established medical office improvements can align well with operators looking for multiple clinical office spaces under one roof.
Located at 2984 Alafaya Trail in Oviedo, Florida, the building provides frontage on Alafaya Trail (SR 434). The site is fully developed and maintained, offering a professional setting for healthcare-related offices.
This property is presented for sale with owner financing available, including a 30-year amortization at 5% as stated in the remarks. With the building identified as fully leased, it may be suitable for buyers seeking a turn-key medical office asset. The overall suite configuration and established medical office improvements can align well with operators looking for multiple clinical office spaces under one roof.
Key Highlights
- Well‑maintained 19,600 SF medical office building on 2.79 acres fronting 6‑laned Alafaya Trail (SR 434)
- Seven medical office suites with sizes ranging from 1,046 SF to 3,756 SF
- Fully leased building with 1 building on‑site
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
$238,442
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
3.97%
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%
$4,768,840
$4.8M
Cap Rate 7%
$3,406,314
$3.4M
Cap Rate 9%
$2,649,356
$2.6M
Market Conditions
NOI Build-Up for 15,960 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
$383.0K $24.00/SF
− Vacancy
−$65.1K −$4.08/SF
EGI
$317.9K $19.92/SF
− OpEx
−$79.5K −$4.98/SF
NOI
$238.4K $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%
$4,768,840
Cap Rate 7%
$3,406,314
Cap Rate 9%
$2,649,356
Alternative Uses
Best Use
Office B
$3.41M
$2.98M – $3.97M
NOI $238,442 @ 7.0% cap · market cap 3.97%
Second Best
Healthcare Medical
$3.25M
$2.84M – $3.79M
NOI $227,526 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$4.54M
$3.97M – $5.30M
NOI $317,923 @ 7.0% cap · market cap 5.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-maintained medical office building with seven suites, portico, and generous parking on landscaped acreage.
Where is this medical office space located?
The property is located at 2984 Alafaya Trail OVIEDO 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: Well‑maintained 19,600 SF medical office building on 2.79 acres fronting 6‑laned Alafaya Trail (SR 434); Seven medical office suites with sizes ranging from 1,046 SF to 3,756 SF; Fully leased building with 1 building on‑site
