Medical Office Space with Clinical
For Sale
$1,900,000
610 JASMINE Road, Altamonte Springs, FL 32701
Commercial Sale, ALTAMONTE SPRINGS, FL
Property Size6,282 SF
Lot Size0.56 Acres
Price / SF$329
Days on Market48
Property Features for 610 JASMINE Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
MOR-1
Security features
Security System
Subdivision
JASMINE CENTER
Directions
From I-4 east to SR 436. right on Boston Ave. Left on Jasmine Road.
Standard status
Active
APN
13-21-29-534-0000-0010
Size
5,775 SF
Lot size
0.56 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 1 JASMINE CENTER PB 55 PG 32
Tax Annual Amount
16326
Legal Description
LOT 1 JASMINE CENTER PB 55 PG 32
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1984
Flooring type
Laminate, Carpet
Building materials
Block, Concrete
Listing Agency:
FLORIDA REALTY INVESTMENTS
(407) 207-2220
Listed By:
Alain Hart · License #3017893
(407) 340-4165
Added: Jul 24
Changed: Sep 4
Last Checked: Sep 9 at 3:06PM
MLS# O6427902
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 medical office property provides a purpose-built clinical configuration with a reception area, private offices, exam rooms, an X-ray room, nurse stations, restrooms, and a full-service kitchen. An upstairs documentation area adds functional support space. The building was constructed in 1984 and includes block and concrete construction, laminate and carpet flooring, central heating, and central air conditioning.
The property is located in Altamonte Springs near SR 434 and across from Advent Heath Hospital. It is fully leased to Advent Heath for 5 years, with a first option to renew. The property is zoned MOR-1 and has public water, public sewer, and electricity available.
The property is located in Altamonte Springs near SR 434 and across from Advent Heath Hospital. It is fully leased to Advent Heath for 5 years, with a first option to renew. The property is zoned MOR-1 and has public water, public sewer, and electricity available.
Key Highlights
- Purpose‑built medical layout with reception, private offices, exam rooms, X‑ray room, and nurse stations
- Fully leased to Advent Heath for 5 years with first option of renewal
- MOR‑1 zoning supports the property’s medical office classification
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
$86,279
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
4.54%
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%
$1,725,580
$1.7M
Cap Rate 7%
$1,232,557
$1.2M
Cap Rate 9%
$958,656
$958.7K
Market Conditions
NOI Build-Up for 5,775 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
$138.6K $24.00/SF
− Vacancy
−$23.6K −$4.08/SF
EGI
$115.0K $19.92/SF
− OpEx
−$28.8K −$4.98/SF
NOI
$86.3K $14.94/SF
Area
Seminole 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 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%
$1,725,580
Cap Rate 7%
$1,232,557
Cap Rate 9%
$958,656
Alternative Uses
Best Use
Office B
$1.23M
$1.08M – $1.44M
NOI $86,279 @ 7.0% cap · market cap 4.54%
Second Best
Healthcare Medical
$1.18M
$1.03M – $1.37M
NOI $82,328 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$1.64M
$1.44M – $1.92M
NOI $115,038 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,017
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32701, FL
23,265
Population
12,085
Households
1.9
Avg Household Size
40
Median Age
35%
College-Educated
93%
High-School Grad
5.6 sq mi
ZIP Area
4,154
Density / Sq Mi
$62,008
Median Household Income
$37,359
Median Earnings
$1,609
Median Rent
$258,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing improvements include exam rooms, imaging space, nurse stations, private offices, and a reception area.
Where is this medical office space located?
The property is located at 610 JASMINE Road Altamonte Springs, FL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Purpose‑built medical layout with reception, private offices, exam rooms, X‑ray room, and nurse stations; Fully leased to Advent Heath for 5 years with first option of renewal; MOR‑1 zoning supports the property’s medical office classification
