Remodeled Condo-Hotel Unit Near
For Sale
$47,000
3000 MAINGATE Ln 228, Kissimmee, FL 34747
Completely remodeled condo-hotel unit near parks, dining, and entertainment.
Property Size304 SF
Days on Market165
Property Features for 3000 MAINGATE Ln 228
General Information
Standard status
Active
Size
304 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$1,239
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 8
Last Checked: Aug 8 at 11:56AM
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 completely remodeled condo-hotel unit is located in the Galleria Palms, offering proximity to parks, dining, and entertainment, with convenient access to major highways. The suite has undergone over $17,000 in renovations and features two queen beds. Upgrades include crown molding, new tile flooring throughout, new paint, lighting, artwork, furnishings, and a wall-mounted 49-inch flat-screen TV. The unit also includes a granite vanity with a microwave, mini-fridge, coffee maker, and wet bar. Additional amenities include upgraded Wi-Fi, an iron/ironing board, and USB ports in the lighting fixtures. The bathroom features dual sinks with granite counters. Complimentary shuttle service to parks and a daily hot breakfast served in the lobby are available. The property features a newer roof, windows, and A/C units. Residents can enjoy a swim in the pool and relax on the sun deck. A full-time property management company is available. Owners cannot occupy the unit for more than 14 days at any one stay, and the unit cannot be removed from the onsite rental program. This property is suitable as a hassle-free investment.
Key Highlights
- Completely remodeled condo‑hotel unit with over $17,000 in renovations.
- Turn‑key suite ideal for investors, managed by a full‑time property management company.
- Located in Galleria Palms, close to parks, dining, entertainment, and major highways.
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
6.13%
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 6.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$73.1K
$63.9K – $85.2K
NOI $5,114 @ 7.0% cap · market cap 10.88%
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 - Completely remodeled condo-hotel unit near parks, dining, and entertainment.
Where is this short term rental property located?
The property is located at 3000 MAINGATE Ln 228 Kissimmee, FL.
What is the asking price?
The asking price for this property is $47,000.
What are key features of this property?
This property features: Completely remodeled condo‑hotel unit with over $17,000 in renovations.; Turn‑key suite ideal for investors, managed by a full‑time property management company.; Located in Galleria Palms, close to parks, dining, entertainment, and major highways.
