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    344 Royal Palm St Lake Placid, FL 33852

    For Sale
    $2,400,000

    Prime Medical Office, 12,496+ SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents a 12,496+-square-foot medical office building situated on a high-visibility corner lot in Lake Placid, Florida. The property, constructed in 1996, comprises two buildings totaling 12,496 square feet, with each building offering approximately 6,247 square feet of finished space. One building, previously occupied by Cora Physical Therapy, is currently vacant and readily available for immediate occupancy. The second building is currently partially occupied by a pediatric physician and a physical therapy practice, both leasing back from the seller at fair market value. This arrangement provides a built-in income stream for the new owner. The seller is leasing back approximately 4,000 square feet, leaving over 8,000 square feet available for a new tenant or owner-occupancy. The property's location in a growing rural market makes it an ideal setting for a variety of medical practices. Due to tenant confidentiality, a signed confidentiality agreement is required before showings of the occupied portion of the building. The asking price for this turnkey medical facility is $2,400,000. The property is located at 344 E Royal Palm Street, Lake Placid, FL 33852. This is a rare opportunity to acquire a well-established medical office building in a thriving community.

    Property Features for 344 Royal Palm St

    General Information

    Property type
    Office Properties & Spaces

    Building Details

    Year Built
    1996
    Property Profile Location Intelligence

    Current Use by Public Records

    Heartland Pediatrics-Lake Plcd: ... Pediatrician Dr. Maria Belina ... Pediatrician RJB Cardiac & Physical ... Physical Therapist Heartland Pediatrics of Lake ... Pediatrician

    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
    -81.3595752
    Latitude
    27.2949156

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Medical Office, 12,496+ SF
    Where is this office property / space located?
    The property is located at 344 Royal Palm St Lake Placid, FL.
    What is the asking price?
    The asking price for this property is $2,400,000.
    (863) 381-4932
    Request Owner's contact information
    344 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
    344 Royal Palm St Lake Placid, FL 33852
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