Office Building on State
For Sale
Contact for pricing
Pending
1655 E Hwy 50, Clermont, FL 34711
Office building built in 2008 with diverse tenant mix.
Property Size21,406 SF
Days on Market738
Property Features for 1655 E Hwy 50
General Information
Standard status
Pending
Size
21,406 SF
Property subtype
Office
Lease Type
NNN
Building Details
Year Built
2008
Tenancy
Multi
Listing Agency:
RESMA LLC
Listed By:
Alejandro Silbestein · License #BK 3376033
Source:
Crexi
Added: Oct 9, 2024
Changed: Oct 2
Last Checked: Oct 16 at 7:39AM
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 RESMA LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property is an office building constructed in 2008. It is located on State Highway 50, where it benefits from high traffic exposure of 52,000 vehicles daily. The building has a net rentable area of 18,924 square feet and a total property size of 21,406 square feet. The property is currently 100% occupied with a diverse tenant mix that includes medical professionals and a U.S. Government Veterans Center. The property also includes executive suites.
Key Highlights
- High traffic exposure: Located on State Highway 50 with 52,000 vehicles passing daily.
- 100% occupancy with a diverse tenant mix.
- Net rentable area of 18,924 sq. ft.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$319,806
Cap Rate
4.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,396,120
$6.4M
Cap Rate 7%
$4,568,657
$4.6M
Cap Rate 9%
$3,553,400
$3.6M
Market Conditions
NOI Build-Up for 21,406 SF
Gross rent
$513.7K $24.00/SF
− Vacancy
−$87.3K −$4.08/SF
EGI
$426.4K $19.92/SF
− OpEx
−$106.6K −$4.98/SF
NOI
$319.8K $14.94/SF
Area
Lake 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 Rate 5%
$6,396,120
Cap Rate 7%
$4,568,657
Cap Rate 9%
$3,553,400
Alternative Uses
Best Use
Office B
$4.57M
$4.00M – $5.33M
NOI $319,806 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.09M
$5.33M – $7.11M
NOI $426,408 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,122
Businesses Nearby
Explore this area
Business Placement
Demographics for 34711, FL
67,980
Population
28,127
Households
2.4
Avg Household Size
45
Median Age
36%
College-Educated
95%
High-School Grad
39.2 sq mi
ZIP Area
1,734
Density / Sq Mi
$88,474
Median Household Income
$46,456
Median Earnings
$1,817
Median Rent
$369,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Office building built in 2008 with diverse tenant mix.
Where is this office building located?
The property is located at 1655 E Hwy 50 Clermont, FL.
What is the asking price?
The asking price for this property is $6,842,701.
What are key features of this property?
This property features: High traffic exposure: Located on State Highway 50 with 52,000 vehicles passing daily.; 100% occupancy with a diverse tenant mix.; Net rentable area of 18,924 sq. ft.
