Mixed-Use Property with Multifamily
For Sale
$3,500,000
421 E KENNEDY Boulevard, Maitland, FL 32751
Commercial Sale, MAITLAND, FL
Property Size15,777 SF
Lot Size0.85 Acres
Price / SF$221.84
Days on Market394
Property Features for 421 E KENNEDY Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-3
Subdivision
COOPERS SUB
Lot features
Central Business District, Corner Lot, Historic District, Near Public Transit, Sidewalk, Street Lights, Paved
Directions
From I4 take Lee Rd Exit to North on Wymore Rd to Right on Kennedy Blvd. Property is in center of town on left
Standard status
Active
APN
35-21-29-0000-00-154
Size
15,777 SF
Lot size
0.85 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
BEG 1082 FT S OF NE COR OF SE1/4 OF NE1/4 OF SEC 35-21-29 RUN W 87 FT FOR POB THS 01 DEG E 146.2 FT TH W 132.25 FT TH N146.12 FT TH E 128.5 FT TO POB (LESS R/W ON S) & LOTS 1 & 3 IN COOPERS SUB K/114
Tax Annual Amount
12783
Legal Description
BEG 1082 FT S OF NE COR OF SE1/4 OF NE1/4 OF SEC 35-21-29 RUN W 87 FT FOR POB THS 01 DEG E 146.2 FT TH W 132.25 FT TH N146.12 FT TH E 128.5 FT TO POB (LESS R/W ON S) & LOTS 1 & 3 IN COOPERS SUB K/114
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1967
Number of units
29
Building materials
Concrete, Stucco
Roof type
Concrete
Listing Agency:
CHARLES RUTENBERG REALTY ORLANDO
(407) 622-2122
Listed By:
David Washington · License #SL3164865
(407) 579-1981
Added: Jul 25, 2025
Changed: Aug 19
Last Checked: Aug 22 at 4:06AM
MLS# O6330371
Copyright © 2026 Stellar MLS. 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.
This mixed-use property includes a 29-unit multifamily building, an adjacent commercial building at 429 E. Kennedy Blvd, and a commercial lot at 34 N. West St. The improvements date to 1967 and include concrete and stucco construction, ductless heating, wall/window and window-unit cooling, and a concrete roof. A new roof was installed in 2023.
The offering contains 15,777 square feet on 0.85 acres in Maitland, Florida. C-3 zoning applies to the property, with public water and public sewer serving the site. The combined multifamily, commercial, and land components create a single offering with multiple existing property elements.
The offering contains 15,777 square feet on 0.85 acres in Maitland, Florida. C-3 zoning applies to the property, with public water and public sewer serving the site. The combined multifamily, commercial, and land components create a single offering with multiple existing property elements.
Key Highlights
- 29‑unit multifamily building included in the offering
- 15,777 square feet on 0.85 acres
- C‑3 zoning
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
$208,256
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
5.95%
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%
$4,165,120
$4.2M
Cap Rate 7%
$2,975,086
$3.0M
Cap Rate 9%
$2,313,956
$2.3M
Market Conditions
NOI Build-Up for 15,777 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
$378.6K $24.00/SF
− Vacancy
−$45.4K −$2.88/SF
EGI
$333.2K $21.12/SF
− OpEx
−$125.0K −$7.92/SF
NOI
$208.3K $13.20/SF
Area
Orange County, FL
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$4,165,120
Cap Rate 7%
$2,975,086
Cap Rate 9%
$2,313,956
Alternative Uses
Best Use
Mixed Use
$2.98M
$2.60M – $3.47M
NOI $208,256 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$2.77M
$2.42M – $3.23M
NOI $193,746 @ 7.0% cap · market cap 5.54%
Theoretical Best
Office A
$4.49M
$3.93M – $5.24M
NOI $314,278 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
29
Residential units
Location Intelligence
Trade Area within ½ mile
657
Businesses Nearby
Explore this area
Business Placement
Demographics for 32751, FL
23,230
Population
10,730
Households
2.2
Avg Household Size
40
Median Age
56%
College-Educated
96%
High-School Grad
7.0 sq mi
ZIP Area
3,319
Density / Sq Mi
$94,277
Median Household Income
$51,357
Median Earnings
$1,841
Median Rent
$433,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - The offering combines multifamily, commercial, and land components under C-3 zoning.
Where is this mixed-use property located?
The property is located at 421 E KENNEDY Boulevard Maitland, FL.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 29‑unit multifamily building included in the offering; 15,777 square feet on 0.85 acres; C‑3 zoning
