344 E Royal Palm Street Lake Placid, FL 33852
COMMERCIAL - Lake Placid, FL
- Added:
- Sep 20, 2024
- Days on Market:
- 663
- Last Refresh:
- Jul 14 at 3:06 am
Property Features for 344 E Royal Palm Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- C1
- Standard status
- Active
- APN
- P-06-37-30-091-0030-00C2
- Size
- 12,496 SF
- Lot size
- 1.70 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Description
- RPLT ROBERTS GROVE ADD 3-96 WLY 76.69 FT AS MEAS ALONG N LINE TR C BLK 3-LESS S 70 FT + ROBERTS GROVE ADD 2-116 LOT 7 BLK 3-LESS S 70 FT + J M ANDREWS SUB 1-106B ALL LOTS 1-2 BLK 2 + LOTS 11-12 BLK 2-LESS S 70 FT
- Tax Annual Amount
- 10812
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central, Electric (Heating)
- Cooling system
- Electric, Central Air
Building Details
- Year built
- 1996
- Floors in Building
- 1
- Flooring type
- Linoleum, Carpet, Tile
- Building materials
- Concrete Block
- Architectural style
- Other
Listing agent Gregory Karlson License #3229372 (863) 381-4932
Listing office ADVANTAGE REALTY #1 743 US 27 S, Sebring, FL (863) 386-0303
Listing date Sep 20, 2024
Copyright © 2026 Heartland Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property sits at a full median turn corner in Lake Placid, Florida. The seller has indicated a lease-back arrangement for approximately 4,000 SF currently occupied, and the remaining vacant area may be accessed for showings.
Zoning is identified as C1. The sale is confidential due to the ongoing tenant/partner occupancy, and prospective buyers must sign a confidentiality agreement prior to requesting showings of the occupied space.
Key Highlights
- 12,496± SF of finished medical buildings—6247± SF per building
- Buyer use: 8,000± SF available (vacant); seller leasing back remaining 4,000± SF currently occupying
- Medical space divided into 3 areas, with prior uses including Cora Physical Therapy and pediatric physician space
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $217.4k | $17.40 |
| − Vacancy | −$47.8k | −$3.83 |
| EGI | $169.6k | $13.57 |
| − OpEx | −$42.4k | −$3.39 |
| NOI | $127.2k | $10.18 |
