Remodeled Condo-Hotel Unit Near
For Sale
$45,000
3000 MAINGATE Ln 218, Kissimmee, FL 34747
Recently remodeled condo-hotel unit with amenities and convenient location.
Property Size304 SF
Days on Market177
Property Features for 3000 MAINGATE Ln 218
General Information
Standard status
Active
Size
304 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$929
Building Details
Building Size
304 SF
Year Built
1998
Stories
5
Listing Agency:
(724) 252-5561
Listed By:
Janine Venturella · License #3301586
(724) 252-5561
Source:
Elliman
Added: Mar 10
Changed: Aug 28
Last Checked: Aug 30 at 10:23PM
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 Janine Venturella
Investment Insights
Based on property information with market context.
This recently remodeled second-floor condo-hotel unit is located in Galleria Palms, offering proximity to parks, dining, and entertainment, with convenient access to major highways. The suite has undergone over $17,000 in renovations, featuring two queen-size beds, crown molding, new tile flooring, new paint, lighting, artwork, furnishings, and a wall-mounted 49-inch flat-screen TV. It also includes a granite vanity with a microwave, mini-fridge, coffee maker, wet bar, upgraded Wi-Fi, an iron/ironing board, and USB ports in the lighting fixtures. The bathroom features dual sinks with granite counters. Amenities include a complimentary shuttle service to parks and a daily hot breakfast served in the lobby. The property has a newer roof, windows, and A/C units. Residents can enjoy a heated pool and sun deck. A full-time property management company is available. Note that owners cannot occupy the unit for more than 29 days at a time, and the unit cannot be removed from the onsite rental program. This property is suitable for short term rental, multifamily or residential income purposes.
Key Highlights
- Turn‑key, recently remodeled condo‑hotel unit with over $17,000 in renovations.
- Hassle‑free investment with full‑time property management.
- Complimentary shuttle service to parks and daily hot breakfast.
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
$2,879
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
6.40%
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%
$57,580
$57.6K
Cap Rate 7%
$41,129
$41.1K
Cap Rate 9%
$31,989
$32.0K
Market Conditions
NOI Build-Up for 304 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
$5.6K $18.36/SF
− Vacancy
−$346 −$1.14/SF
EGI
$5.2K $17.22/SF
− OpEx
−$2.4K −$7.75/SF
NOI
$2.9K $9.47/SF
Area
Polk County, FL
Vacancy
6.20%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
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%
$57,580
Cap Rate 7%
$41,129
Cap Rate 9%
$31,989
Alternative Uses
Best Use
Apartment 5plus
$41.1K
$36.0K – $48.0K
NOI $2,879 @ 7.0% cap · market cap 6.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$73.1K
$63.9K – $85.2K
NOI $5,114 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
401
Businesses Nearby
Explore this area
Business Placement
Demographics for 34747, FL
26,560
Population
22,016
Households
1.2
Avg Household Size
38
Median Age
48%
College-Educated
96%
High-School Grad
43.4 sq mi
ZIP Area
612
Density / Sq Mi
$83,141
Median Household Income
$41,932
Median Earnings
$1,812
Median Rent
$455,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Short term rental property - Recently remodeled condo-hotel unit with amenities and convenient location.
Where is this short term rental property located?
The property is located at 3000 MAINGATE Ln 218 Kissimmee, FL.
What is the asking price?
The asking price for this property is $45,000.
What are key features of this property?
This property features: Turn‑key, recently remodeled condo‑hotel unit with over $17,000 in renovations.; Hassle‑free investment with full‑time property management.; Complimentary shuttle service to parks and daily hot breakfast.
