Medical Office Building with Exam
For Sale
$1,450,000
309 Lagrande Boulevard, Lady Lake, FL 32159
Medical office building with lobby, receptionist area, seven exam rooms, lab and shot room, plus an outdoor patio and parking.
Property Size3,552 SF
Price / SF$408.22
Days on Market188
Property Features for 309 Lagrande Boulevard
General Information
Standard status
Active
Size
3,552 SF
Property subtype
General Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$15,671
Amenities
outdoor patio
Central Air
3
Building Details
Year Built
2006
Listing Agency:
INVICTUS REAL ESTATE LLC
(352) 619-4466
Listed By:
Jamie Blankenship · License #BK3015400
(352) 817-1627
Source:
Xome
Added: Mar 1
Changed: Sep 1
Last Checked: Sep 5 at 4:29AM
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 INVICTUS REAL ESTATE LLC
Investment Insights
Based on property information with market context.
This medical office building offers a practical clinical layout with a large lobby and receptionist area, seven exam rooms, a lab, a shot room, and two large physician offices. The space also includes a manager’s office, file space, a supply closet, and an outdoor patio, with on-site parking available.
The property has direct frontage on US Hwy 441 and overlooks a pond, providing waterfront views from the site. Golf cart accessibility is available via The Villages path system.
Also included is a separate lakefront vacant lot, which may be suitable for creating an outdoor amenity space or other branded outdoor area. The building is listed for medical or professional office use.
The property has direct frontage on US Hwy 441 and overlooks a pond, providing waterfront views from the site. Golf cart accessibility is available via The Villages path system.
Also included is a separate lakefront vacant lot, which may be suitable for creating an outdoor amenity space or other branded outdoor area. The building is listed for medical or professional office use.
Key Highlights
- Medical/professional office building built in 2006 with large lobby and receptionist area
- Includes 7 exam rooms plus a lab and a shot room (currently occupied by an allergist)
- Two large physician offices, managers office, and file space with supply closet
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
$54,525
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
3.76%
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%
$1,090,500
$1.1M
Cap Rate 7%
$778,929
$778.9K
Cap Rate 9%
$605,833
$605.8K
Market Conditions
NOI Build-Up for 3,552 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
$88.7K $24.96/SF
− Vacancy
−$16.0K −$4.49/SF
EGI
$72.7K $20.47/SF
− OpEx
−$18.2K −$5.12/SF
NOI
$54.5K $15.35/SF
Area
Sumter County, FL
Vacancy
18.00%
Lease Rate
$24.96 /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%
$1,090,500
Cap Rate 7%
$778,929
Cap Rate 9%
$605,833
Alternative Uses
Best Use
Office B
$778.9K
$681.6K – $908.8K
NOI $54,525 @ 7.0% cap · market cap 3.76%
Second Best
Healthcare Medical
$572.2K
$500.7K – $667.6K
NOI $40,056 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$1.02M
$889.8K – $1.19M
NOI $71,182 @ 7.0% cap · market cap 4.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
723
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32159, FL
30,455
Population
19,670
Households
1.5
Avg Household Size
69
Median Age
29%
College-Educated
95%
High-School Grad
30.2 sq mi
ZIP Area
1,008
Density / Sq Mi
$57,536
Median Household Income
$30,723
Median Earnings
$1,370
Median Rent
$272,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office building with lobby, receptionist area, seven exam rooms, lab and shot room, plus an outdoor patio and parking.
Where is this medical office space located?
The property is located at 309 Lagrande Boulevard Lady Lake, FL.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Medical/professional office building built in 2006 with large lobby and receptionist area; Includes 7 exam rooms plus a lab and a shot room (currently occupied by an allergist); Two large physician offices, managers office, and file space with supply closet
