Mixed-Use Property with 29
For Sale
$3,500,000
421 E Kennedy Boulevard MAITLAND, Maitland, FL 32751
Mixed-use offering includes a 29-unit multifamily building plus adjacent commercial building and commercial lot.
Property Size15,777 SF
Price / SF$221.84
Days on Market108
Property Features for 421 E Kennedy Boulevard MAITLAND
General Information
Standard status
Active
Size
15,777 SF
Zoning
C-3
Additional Details
Multifamily Units
29
Taxes and HOA fees
Annual Taxes
$12,783
Amenities
true
Public Records
Central Business District,Corner Lot,Historic District,Near Public Transit,Sidewalk,Street Lights
Public
36883
0.85
1
false
Over 30 Spaces
Paved,Asphalt
Slab
Street Lights,Street Paved,City Street,Main Throrughfare
15777
Public Maintained Road
Building Details
Building Size
15,777 SF
Year Built
1967
Buildings
1
Listed By:
Merrilee Agana
(904) 569-5862
Source:
Movetojacksonville
Added: Jul 13
Changed: Oct 25
Last Checked: Oct 7 at 9:36AM
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 Merrilee Agana
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Investment Insights
Based on property information with market context.
This mixed-use property includes a 29-unit multifamily building along with an adjacent commercial building at 429 E. Kennedy Blvd and a commercial lot at 34 N. West St. The listing is being offered as a combined package for continued use and potential expansion or reconfiguration to support mixed-use development plans.
A new roof was installed in 2023, supporting the building’s near-term exterior integrity. The property is described as centrally situated between Maitland and Winter Park, with visibility and versatility cited as key characteristics.
The offering presents multiple components—multifamily, adjacent commercial space, and an additional commercial lot—within a single transaction, allowing for flexible planning around existing structures and future growth.
A new roof was installed in 2023, supporting the building’s near-term exterior integrity. The property is described as centrally situated between Maitland and Winter Park, with visibility and versatility cited as key characteristics.
The offering presents multiple components—multifamily, adjacent commercial space, and an additional commercial lot—within a single transaction, allowing for flexible planning around existing structures and future growth.
Key Highlights
- Mixed‑use offering includes a 29‑unit multifamily building plus an adjacent commercial building at 429 E. Kennedy Blvd and a commercial lot at 34 N. West St
- 0.85‑acre corner lot in the Central Business District and Historic District, near public transit with sidewalks and street lights
- Building area totals 15,777 SF; slab foundation; public maintained, paved asphalt city street frontage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$208,256
Cap Rate
5.95%
Suggested Prices Based on Cap Rates
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
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 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.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Mixed-use offering includes a 29-unit multifamily building plus adjacent commercial building and commercial lot.
Where is this apartment building located?
The property is located at 421 E Kennedy Boulevard MAITLAND 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: Mixed‑use offering includes a 29‑unit multifamily building plus an adjacent commercial building at 429 E. Kennedy Blvd and a commercial lot at 34 N. West St; 0.85‑acre corner lot in the Central Business District and Historic District, near public transit with sidewalks and street lights; Building area totals 15,777 SF; slab foundation; public maintained, paved asphalt city street frontage
