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 Market918
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
Pool
Public Pool
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: Aug 20
Last Checked: Aug 19 at 9:52AM
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 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 = 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
$20,620
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
2.95%
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%
$412,400
$412.4K
Cap Rate 7%
$294,571
$294.6K
Cap Rate 9%
$229,111
$229.1K
Market Conditions
NOI Build-Up for 1,641 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
$38.4K $23.40/SF
− Vacancy
−$4.0K −$2.46/SF
EGI
$34.4K $20.94/SF
− OpEx
−$13.7K −$8.38/SF
NOI
$20.6K $12.57/SF
Area
Polk County, FL
Vacancy
10.50%
Lease Rate
$23.40 /SF/Yr
Expense Ratio
40.00%
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%
$412,400
Cap Rate 7%
$294,571
Cap Rate 9%
$229,111
Alternative Uses
Best Use
Healthcare Medical
$294.6K
$257.8K – $343.7K
NOI $20,620 @ 7.0% cap · market cap 2.95%
Second Best
Office B
$288.0K
$252.0K – $336.0K
NOI $20,160 @ 7.0% cap · market cap 2.88%
Theoretical Best
Office A
$394.3K
$345.1K – $460.1K
NOI $27,604 @ 7.0% cap · market cap 3.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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- 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.
