Medical Office Investment
For Sale
Contact for pricing
737 Hwy 466, Lady Lake, FL 32159
Leased medical office in growing area near The Villages.
Property Size1,920 SF
Price / SF$364.58
Days on Market727
Property Features for 737 Hwy 466
General Information
Standard status
Active
Size
1,920 SF
Class
B
Property subtype
Office
Zoning
CP
Building Details
Year Built
2009
Buildings
1
Stories
1
Units
1
Listing Agency:
Akin Realty Company
(352) 266-7795
Listed By:
Fran Akin · License #BK544440
Source:
Crexi
Added: Sep 5, 2024
Changed: Aug 14
Last Checked: Aug 29 at 8:41AM
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 Akin Realty Company
Investment Insights
Based on property information with market context.
This 1,920 square foot medical office is located in Summit Medical Park, near the area's largest retail concentration and The Villages. The property is meticulously maintained and currently leased to AdventHealth Medical, presenting an investment opportunity. The surrounding area is experiencing significant growth, with over 1,500 additional homes approved and new retail under construction.
Key Highlights
- Leased to AdventHealth Medical, offering a solid investment opportunity.
- Located in Summit Medical Park.
- Meticulously maintained 1,920 SF Medical Office.
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
$29,473
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
4.21%
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%
$589,460
$589.5K
Cap Rate 7%
$421,043
$421.0K
Cap Rate 9%
$327,478
$327.5K
Market Conditions
NOI Build-Up for 1,920 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
$47.9K $24.96/SF
− Vacancy
−$8.6K −$4.49/SF
EGI
$39.3K $20.47/SF
− OpEx
−$9.8K −$5.12/SF
NOI
$29.5K $15.35/SF
Area
Sumter County, FL
Vacancy
18.00%
Lease Rate
$24.96 /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%
$589,460
Cap Rate 7%
$421,043
Cap Rate 9%
$327,478
Alternative Uses
Best Use
Office B
$421.0K
$368.4K – $491.2K
NOI $29,473 @ 7.0% cap · market cap 4.21%
Second Best
Healthcare Medical
$309.3K
$270.7K – $360.9K
NOI $21,652 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$549.7K
$481.0K – $641.3K
NOI $38,477 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32159, FL
30,455
Population
19,670
Households
1.5
Avg Household Size
69
Median Age
29%
College-Educated
95%
High-School Grad
30.2 sq mi
ZIP Area
1,008
Density / Sq Mi
$57,536
Median Household Income
$30,723
Median Earnings
$1,370
Median Rent
$272,100
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?
Medical Office Space - Leased medical office in growing area near The Villages.
Where is this medical office space located?
The property is located at 737 Hwy 466 Lady Lake, FL.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Leased to AdventHealth Medical, offering a solid investment opportunity.; Located in Summit Medical Park.; Meticulously maintained 1,920 SF Medical Office.
