Kissimmee Medical District Office
For Sale
$699,000
Pending
420 W CHERRY STREET, Kissimmee, FL 34741
Professional office space in Kissimmee's Medical District.
Property Size1,641 SF
Lot Size0.86 Acres
Days on Market965
Property Features for 420 W CHERRY STREET
General Information
Standard status
Pending
Size
1,641 SF
Lot size
0.86 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,215
Amenities
Central air
Central Air Cooling
Central Business District
Central Heating
Concrete Flooring
Parking Spaces - 6 to 12
Shingle Roof
Building Details
Year Built
1955
Listing Agency:
KELLER WILLIAMS LEGACY REALTY
(407) 855-2222
Listed By:
TERESA REILLY-O'DOHERTY · License #476746
(407) 908-6671
Source:
Corcoran
Added: Feb 29, 2024
Changed: Oct 21
Last Checked: Oct 20 at 9:40PM
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
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Investment Insights
Based on property information with market context.
This professional office property is situated in the center of Kissimmee's Medical District in downtown Kissimmee, identified as the 3rd largest cluster of medical businesses in Central Florida. The concrete block property features 1641 square feet of office space and is a combination of two lots, totaling 0.86 acres, which provides ample parking. The surrounding properties are primarily health care providers, suggesting a prime location for a similar business with some improvements. Given the proximity to existing medical offices, this property is suitable for either an owner-user or investment purposes.
Key Highlights
- Prime location in Kissimmee's Medical District, the 3rd largest in Central Florida.
- Large .86 acre lot with ample parking.
- 1751 sq ft concrete block office space.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,517
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$490,340
$490.3K
Cap Rate 7%
$350,243
$350.2K
Cap Rate 9%
$272,411
$272.4K
Market Conditions
NOI Build-Up for 1,641 SF
Gross rent
$39.4K $24.00/SF
− Vacancy
−$6.7K −$4.08/SF
EGI
$32.7K $19.92/SF
− OpEx
−$8.2K −$4.98/SF
NOI
$24.5K $14.94/SF
Area
Osceola County, FL
Vacancy
17.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$490,340
Cap Rate 7%
$350,243
Cap Rate 9%
$272,411
Alternative Uses
Best Use
Office B
$350.2K
$306.5K – $408.6K
NOI $24,517 @ 7.0% cap · market cap 3.51%
Second Best
Healthcare Medical
$334.2K
$292.4K – $389.9K
NOI $23,394 @ 7.0% cap · market cap 3.35%
Theoretical Best
Specialty Retail
$507.4K
$444.0K – $592.0K
NOI $35,519 @ 7.0% cap · market cap 5.08%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,953
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 34741, FL
56,454
Population
22,043
Households
2.6
Avg Household Size
35
Median Age
28%
College-Educated
87%
High-School Grad
15.0 sq mi
ZIP Area
3,764
Density / Sq Mi
$50,278
Median Household Income
$30,415
Median Earnings
$1,591
Median Rent
$270,200
Median Home Value
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Osceola Animal Clinic — 1513 N Main St, Kissimmee, FL 34744
- Dr. Thomas Beaudry DVM — 1513 N Main St, Kissimmee, FL 34744
- Kissimmee Animal Hospital — 403 E Vine St, Kissimmee, FL 34744
- Bellville Michelle DVM — 403 E Vine St, Kissimmee, FL 34744
Frequently Asked Questions
What type of property is this?
Medical Office Space - Professional office space in Kissimmee's Medical District.
Where is this medical office space located?
The property is located at 420 W CHERRY STREET Kissimmee, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Prime location in Kissimmee's Medical District, the 3rd largest in Central Florida.; Large .86 acre lot with ample parking.; 1751 sq ft concrete block office space.
