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    346 Royal Palm St Lake Placid, FL 33852

    Sponsored
    For Sale
    $1,200,000

    6200+ SF Medical Office, High Traffic Area

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 6,200+ square foot medical office building is ideally situated at 346 E Royal Palm Street in Lake Placid, Florida, 33852. Boasting prime visibility on US Highway 27, this property benefits from a full median turn and exceptionally high daily traffic counts – the highest in Lake Placid, averaging 20,400 vehicles. Previously occupied by a physical therapy practice for over 20 years, the building offers established site recognition and is ready for immediate occupancy. The property is being sold vacant, presenting a unique opportunity for a new owner to establish their own practice or adapt the space to suit other medical or professional uses. The building is well-maintained and features a recently replaced roof (less than 6 years old) and a newly updated air conditioning system (less than 1 year old). The parking lot has also been recently resealed. Priced competitively at $1,200,000 ($194 per square foot), this represents a significant value compared to replacement cost. This turnkey property offers a rare chance to acquire a high-visibility, well-maintained commercial building in a thriving location. Don't miss this opportunity to own a piece of Lake Placid's commercial landscape. The building was constructed in 1996 and sits on a lot with no recorded square footage.

    Property Features for 346 Royal Palm St

    General Information

    Property type
    Office Properties & Spaces

    Building Details

    Year Built
    1996

    HighLights

    • Asking price: $1,200,000.
    • 6,200+-square‑foot office building in Lake Placid, FL.
    • Located at 346 E Royal Palm Street, Lake Placid, FL 33852.
    • Previously used as a physical therapy facility, offering high visibility on US Highway 27.
    • Features a recently replaced roof (6 years old) and HVAC system (1 year old).
    Property Profile Location Intelligence

    Current Use by Public Records

    Sandi M. Holmes, ... Physical Therapist

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lake Placid
    County
    Highlands
    State
    Florida
    Longitude
    -81.359055
    Latitude
    27.294977

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    FAQs

    What type of property is this?
    Office Property / Space - 6200+ SF Medical Office, High Traffic Area
    Where is this office property / space located?
    The property is located at 346 Royal Palm St Lake Placid, FL.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: Asking price: $1,200,000.; 6,200+-square-foot office building in Lake Placid, FL.; Located at 346 E Royal Palm Street, Lake Placid, FL 33852.
    (863) 381-4932
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    346 Royal Palm St Lake Placid, FL 33852
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    Lake Placid, FL 33852
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    346 Royal Palm St Lake Placid, FL 33852
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