Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    346 E Royal Palm Street Lake Placid, FL 33852

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,200,000

    Turn-key medical facility with high traffic exposure in Lake Placid.

    Type:Commercial/Industrial
    Property size:
    6,200 SF
    Lot size:
    0.91 Acres
    Added:
    Mar 11, 2026
    Days on Market:
    22
    Last Refresh:
    Mar 25 at 11:40 pm

    Property Features for 346 E Royal Palm Street

    General Information

    Standard status
    Active
    Size
    6,200 SF
    Lot size
    0.91 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1996

    We can help!

    Listing Contact
    Gregory S Karlson

    Listing agent Gregory S Karlson License #3229372

    Listing office Advantage Realty #1

    Listing date Mar 11, 2026

    Source Exitrealty

    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 Advantage Realty #1

    Overview

    Medical Facility with Highway Exposure

    This is a 6,200 square foot medical facility, previously used for physical therapy, located in Lake Placid, Florida. The property benefits from its location on US 27 Highway, offering high exposure and a full median turn. The average daily traffic count is 20,400, the highest in Lake Placid. The building is well-maintained, featuring a roof that is approximately 6 years old and an air conditioning system that is approximately 1 year old. The parking area has been resealed. The property is being sold vacant.
    Location Intelligence

    Current Use by Public Records

    Sandi M. Holmes, ... Physician

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • James P. Waller, Jr., DVM — 270 US Hwy 27, Lake Placid, FL 33852
    • Altvater Leah C DVM — 270 US Hwy 27, Lake Placid, FL 33852
    • Waltman Jennifer H DVM — 270 US Hwy 27, Lake Placid, FL 33852
    • Citrus Animal Clinic — 270 US Hwy 27, Lake Placid, FL 33852

    Location Insight

    • Map
    • Local Demand
    City
    Lake Placid
    County
    Highlands
    State
    Florida
    Longitude
    -81.3592
    Latitude
    27.2951

    Nearby Similar for Sale

    • $875,000
      3,181 SF

      Lake Placid Commercial Investment Opportunity

      Spacious building on 1.68 acres with income potential.
      405 W INTERLAKE Boulevard, Lake Placid, FL 33852
      View Details
    • $799,900
      3,919 SF

      Lake Placid Multi-Unit Home

      Spacious, furnished 6-bedroom home/duplex with lake views and rental potential.
      3389 Placid View Dr, Lake Placid, FL 33852
      View Details
    • $7,500

      Land in Lake Placid, FL

      0.2-acre B1-zoned land suitable for various commercial uses.
      731 COUNTY ROAD 29, LAKE PLACID, FL 33852
      View Details
    • $55,000

      Land in Active Resort Community

      Land suitable for RV or home in Lake Placid, Florida.
      55 Oak Ridge Cir, Lake Placid, FL 33852
      View Details
    • $65,000

      RV/Home Lot in Resort

      Resort lot suitable for RV or home with amenities.
      61 Beachfront Ln, Lake Placid, FL 33852
      View Details
    • $50,000

      RV/Home Lot in Resort

      Resort lot suitable for RV or home with many amenities.
      22 Windward Dr, Lake Placid, FL 33852
      View Details
    • $375,000
      1,800 SF

      Medical Office in Lake Placid

      Profitable location suitable for medical or dental practice.
      204-206 W INTERLAKE BOULEVARD, LAKE PLACID, FL 33852
      View Details
    • $75,000

      RV/Home Lot in Resort Community

      Resort lot suitable for RV or home with many amenities.
      16 Windward Drive, Lake Placid, FL 33852
      View Details
    • $275,000
      6,320 SF

      Versatile Commercial Building with Parking

      Over 3000 sq ft, ideal for various business operations.
      102 WASHINGTON BOULEVARD, LAKE PLACID, FL 33852
      View Details
    • $2,250,000
      21,875 SF

      Lake Placid Retail Building

      22,000 SF retail building in Lake Placid.
      800 US 27 S, LAKE PLACID, FL 33852
      View Details
    • $2,400,000
      12,496 SF

      Medical Buildings in Lake Placid

      Two medical buildings totaling 12,496 square feet in Lake Placid.
      344 E Royal Palm Street, Lake Placid, FL
      View Details
    • Contact for pricing
      4,150 SF

      Free-Standing Former Bank Branch

      4,150 SF former bank branch with drive-thru on 0.65 acres.
      Lake Placid, FL 33852
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Turn-key medical facility with high traffic exposure in Lake Placid.
    Where is this medical office space located?
    The property is located at 346 E Royal Palm Street Lake Placid, FL.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: Prime US 27 Hwy Exposure with High Traffic Count (20,400 AADT); Turn‑Key 6200+-SF Medical Facility; Established Medical Site with 20 Years of Recognition
    (863) 386-0303
    We can help!
    Listing Contact
    Gregory S Karlson
    Real Estate License ID: 3229372
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!