Downtown Kissimmee Two-Story Office
For Sale
$999,999
Pending
815 MABBETTE ST #101, Kissimmee, FL 34741
Two-story office building in Downtown Kissimmee with ample parking.
Property Size4,140 SF
Lot Size0.41 Acres
Days on Market181
Property Features for 815 MABBETTE ST #101
General Information
Standard status
Pending
Size
4,140 SF
Lot size
0.41 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,135
Amenities
Central air
Corner Lot
Pool
Public Pool
Carpet Flooring
Central Air Cooling
Central Heating
Ceramic Tile Flooring
Oversized
Parking Spaces - 13 to 18
Paved
Shingle Roof
Street Lights
Vinyl Flooring
Building Details
Year Built
2008
Listing Agency:
TIE TEAM REALTY LLC
(321) 805-4392
Listed By:
TAWNIE MCMORROW · License #3279634
Source:
Corcoran
Added: Feb 18
Changed: Aug 8
Last Checked: Aug 8 at 6:04AM
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 TIE TEAM REALTY LLC
Investment Insights
Based on property information with market context.
Located in Downtown Kissimmee, this two-story office building offers 4,140 square feet of professional space on a 0.41-acre corner lot. The property is situated minutes from the courthouse, city offices, shops, and restaurants. A large on-site parking lot provides parking for staff and clients. An elevator services both floors. The first floor includes a reception area, seven private offices, a conference room, break room, restroom, two storage closets, and a dedicated mechanical room. Currently, the first floor is rented out with 3 years remaining on the lease. The second floor features a reception area, seven private offices, a conference room, break room, three storage closets, a restroom, and a private balcony. A staircase leads to the attic/mechanical room. The second floor is currently vacant. The property is suited for law firms, financial services, or professional offices seeking a central, high-traffic location.
Key Highlights
- Prime downtown Kissimmee location near courthouse, city offices, shops, and restaurants.
- Large on‑site parking lot, a rare and valuable asset in a downtown setting.
- Substantial 4,140 sq ft two‑story office building on a 0.41‑acre corner lot.
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
$50,860
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
5.09%
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%
$1,017,200
$1.0M
Cap Rate 7%
$726,571
$726.6K
Cap Rate 9%
$565,111
$565.1K
Market Conditions
NOI Build-Up for 4,140 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
$86.9K $21.00/SF
− Vacancy
−$19.1K −$4.62/SF
EGI
$67.8K $16.38/SF
− OpEx
−$17.0K −$4.10/SF
NOI
$50.9K $12.29/SF
Area
Polk County, FL
Vacancy
22.00%
Lease Rate
$21.00 /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%
$1,017,200
Cap Rate 7%
$726,571
Cap Rate 9%
$565,111
Alternative Uses
Best Use
Office B
$726.6K
$635.8K – $847.7K
NOI $50,860 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$994.9K
$870.5K – $1.16M
NOI $69,641 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,292
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building in Downtown Kissimmee with ample parking.
Where is this office building located?
The property is located at 815 MABBETTE ST #101 Kissimmee, FL.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Prime downtown Kissimmee location near courthouse, city offices, shops, and restaurants.; Large on‑site parking lot, a rare and valuable asset in a downtown setting.; Substantial 4,140 sq ft two‑story office building on a 0.41‑acre corner lot.
