Income Property with Rental
For Sale
$1,249,900
3211 LAKESHORE Blvd, Saint Cloud, FL 34769
2021-built income property featuring four separate rental units.
Property Size4,531 SF
Lot Size0.97 Acres
Price / SF$182.20
Days on Market153
Property Features for 3211 LAKESHORE Blvd
General Information
Standard status
Active
Size
4,531 SF
Lot size
0.97 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$8,155
Building Details
Building Size
4,531 SF
Year Built
2021
Units
2
Listing Agency:
KELLER WILLIAMS LEGACY REALTY
(407) 908-6671
Listed By:
Teresa Reilly-O'Doherty · License #476746
(407) 908-6671
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 2:17PM
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 KELLER WILLIAMS LEGACY REALTY
Investment Insights
Based on property information with market context.
This 2021-built income property is designed for investors and owner-operators. The property features a total of 5 bedrooms and 5.5 baths, and is comprised of 4 separate rental units, each with its own private entrance. The property spans 6,860 square feet and includes a communal space with a 31 ft x 31 ft living/family room connected to a kitchen and dining area.
Key Highlights
- Built in 2021, offering modern construction.
- Consists of 4 separate rental units.
- Features 5 bedrooms and 5.5 baths.
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
$84,243
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
6.74%
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%
$1,684,860
$1.7M
Cap Rate 7%
$1,203,471
$1.2M
Cap Rate 9%
$936,033
$936.0K
Market Conditions
NOI Build-Up for 6,860 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
$163.8K $23.88/SF
− Vacancy
−$10.6K −$1.55/SF
EGI
$153.2K $22.33/SF
− OpEx
−$68.9K −$10.05/SF
NOI
$84.2K $12.28/SF
Area
Osceola County, FL
Vacancy
6.50%
Lease Rate
$23.88 /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%
$1,684,860
Cap Rate 7%
$1,203,471
Cap Rate 9%
$936,033
Alternative Uses
Best Use
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $84,243 @ 7.0% cap · market cap 6.74%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.12M
$1.86M – $2.47M
NOI $148,485 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
63
Businesses Nearby
Explore this area
Business Placement
Demographics for 34769, FL
27,594
Population
11,070
Households
2.5
Avg Household Size
40
Median Age
24%
College-Educated
89%
High-School Grad
10.6 sq mi
ZIP Area
2,603
Density / Sq Mi
$58,764
Median Household Income
$35,776
Median Earnings
$1,400
Median Rent
$271,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 2021-built income property featuring four separate rental units.
Where is this apartment building located?
The property is located at 3211 LAKESHORE Blvd Saint Cloud, FL.
What is the asking price?
The asking price for this property is $1,249,900.
What are key features of this property?
This property features: Built in 2021, offering modern construction.; Consists of 4 separate rental units.; Features 5 bedrooms and 5.5 baths.
