Medical Office Condominium
For Sale
Contact for pricing
6735 Conroy Rd, Orlando, FL 32835
Medical/professional office suite combines two condos with reception, check-in, seven exam rooms, and a procedure room.
Property Size697 SF
Price / SF$515.06
Days on Market169
Property Features for 6735 Conroy Rd
General Information
Standard status
Active
Size
697 SF
Property subtype
Office
Listing Agency:
Athena Real Estate
Listed By:
Richard O'Brien · License #FSBO
Source:
Crexi
Added: Apr 9
Changed: Sep 10
Last Checked: Sep 24 at 10:09AM
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 Athena Real Estate
Investment Insights
Based on property information with market context.
A medical/professional office suite totaling approximately 2,630 square feet is available for sale, configured by combining two condos. The space includes a reception area with check-in/check-out, seven exam rooms, one procedure room, and a break room. The condos are reported to be in great condition and well maintained.
The condo covers roof, structure, building insurance, and common area maintenance, while the unit owner is responsible for real estate taxes and HVAC expenses.
For an owner-user looking for an established exam-room layout, this combined suite provides a straightforward medical office configuration within the building’s condo structure.
The condo covers roof, structure, building insurance, and common area maintenance, while the unit owner is responsible for real estate taxes and HVAC expenses.
For an owner-user looking for an established exam-room layout, this combined suite provides a straightforward medical office configuration within the building’s condo structure.
Key Highlights
- 2630 SF +/- medical/professional office suite available in the heart of Doctor Phillips
- Suite combines two condos and features a reception and check‑in/check‑out area
- Includes 7 exam rooms plus 1 procedure room
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
$13,016
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
3.63%
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%
$260,320
$260.3K
Cap Rate 7%
$185,943
$185.9K
Cap Rate 9%
$144,622
$144.6K
Market Conditions
NOI Build-Up for 697 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
$20.9K $30.00/SF
− Vacancy
−$3.6K −$5.10/SF
EGI
$17.4K $24.90/SF
− OpEx
−$4.3K −$6.23/SF
NOI
$13.0K $18.67/SF
Area
Orlando, FL
Vacancy
17.00%
Lease Rate
$30.00 /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%
$260,320
Cap Rate 7%
$185,943
Cap Rate 9%
$144,622
Alternative Uses
Best Use
Office B
$185.9K
$162.7K – $216.9K
NOI $13,016 @ 7.0% cap · market cap 3.63%
Second Best
Healthcare Medical
$141.9K
$124.2K – $165.6K
NOI $9,936 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$224.5K
$196.5K – $262.0K
NOI $15,717 @ 7.0% cap · market cap 4.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
509
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32835, FL
45,380
Population
19,377
Households
2.3
Avg Household Size
36
Median Age
41%
College-Educated
92%
High-School Grad
9.4 sq mi
ZIP Area
4,828
Density / Sq Mi
$70,183
Median Household Income
$38,953
Median Earnings
$1,764
Median Rent
$333,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Orlando, FL
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical/professional office suite combines two condos with reception, check-in, seven exam rooms, and a procedure room.
Where is this medical office space located?
The property is located at 6735 Conroy Rd Orlando, FL.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: 2630 SF +/- medical/professional office suite available in the heart of Doctor Phillips; Suite combines two condos and features a reception and check‑in/check‑out area; Includes 7 exam rooms plus 1 procedure room
