407 Lk Howell Rd Maitland, FL 32751-5908

Property Details for 407 Lk Howell Rd

Year built

1959

Construction

CONCRETE BLOCKS

Lot size

0.67 lot acres

Property size

1,240 SF

Property type

Investment properties

Property subtype

Live-work space

APN

28-21-30-300-0270-0000

APU

28213030002700000

Description

This exceptional 6,117 square foot medical office building, located at 407 Lake Howell Rd, Maitland, FL 32751, presents a compelling investment opportunity. Currently operating at 100% occupancy with 24 tenants on month-to-month leases, this property boasts a strong, consistent cash flow, reflected in its $85,932 Net Operating Income (NOI) and 5.37% cap rate. The asking price is $1,600,000, translating to $261.57 per square foot. Built in 1959 with extensive renovations completed in 2016, the single-story building features three lobbies, five bathrooms, a conference room, and a kitchen. The property sits on a 29,200 square foot lot and includes ample parking, both front and rear, with approximately 29 designated spaces. The building is zoned OR and is situated in a prime location, just two blocks from Highway 436 and one block from Winter Park, surrounded by other medical facilities, making it easily adaptable for various medical uses. The property's excellent condition, high occupancy rate, and strong cash flow make it an ideal owner-user or investment property. The seller will provide the last twelve months of utility bills and sales tax reports to verify gross rents. A clear title search is available upon request. The building's location is highly desirable and easily accessible from major roadways.