Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1608 Patrick St Kissimmee, FL 34741
    Property profile & analytics

    1608 Patrick St, Kissimmee, FL 34741

    View on Map
    • Retirement homes
    • 11.34 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retirement homes

    Property Details for 1608 Patrick St

    Lot size
    11.34 lot acres
    Property type
    Retirement homes
    Property subtype
    Mixed-use properties

    Description

    This exceptional 11.34-acre parcel located at 1608 Patrick St, Kissimmee, FL 34741, presents a significant development opportunity. Currently zoned Community Facility (CF), this property offers a wide range of potential uses, including churches, colleges, community services, libraries, public uses, heliports, medical and law enforcement facilities, recreation areas, and minor utility facilities. The property's APN is 28-25-29-1132-0001-0090. Its expansive size and versatile zoning make it ideal for a variety of community-oriented projects. Situated in Osceola County, Florida, this strategically positioned land provides developers with the chance to create a vibrant and impactful development. The asking price for this prime development site is $1,300,000. While the current zoning allows for specific uses, the potential for rezoning to accommodate other opportunities may exist. This is a rare chance to acquire a substantial land holding in a growing area, offering significant long-term investment potential. The property's location in Kissimmee, Florida, provides easy access to major transportation routes and amenities. This is an exceptional opportunity for developers seeking a large-scale project with significant community impact.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Kissimmee
    County
    Osceola
    State
    Florida
    Longitude
    -81.4204
    Latitude
    28.2896

    Comparable in this City

    • Value Estimation by Request
      2,992 SF

      1707 Oak St

      HOMES (RETIRED, NURSING)
      1707 Oak St, Kissimmee, FL 34741-4079
      View Details
    • Value Estimation
      $795,000
      8,278 SF

      500 Kissimmee Oaks Ct

      HOMES (RETIRED, NURSING)
      500 Kissimmee Oaks Ct, Kissimmee, FL 34741-2236
      View Details
    • Value Estimation by Request
      1,955 SF

      906 Hacienda Cir

      HOMES (RETIRED, NURSING)
      906 Hacienda Cir, Kissimmee, FL 34741-6353
      View Details
    • Value Estimation by Request
      1.60 Acres

      Sunrise Plz Dr

      Medical Office Space
      0 Sunrise Plz Dr, Kissimmee, FL 34741
      View Details
    • Value Estimation by Request
      1.24 Acres

      John Young Pkwy

      Medical Office Space
      0 John Young Pkwy, Kissimmee, FL 34741
      View Details
    • Value Estimation by Request
      96,268 SF

      John Young Pkwy

      Mixed-use properties
      John Young Pkwy, Kissimmee, FL 34741
      View Details

    Similar Nearby for Sale

    • $890,000
      1.03 Acres

      Kissimmee Mixed-Use Development Opportunity

      1.03-acre parcel ideal for mixed-use development in Kissimmee.
      John Young Pkwy, Kissimmee, FL 34741
      View Details
    • Contact for pricing
      5,777 SF

      Kissimmee Development Property on US 192

      4.53-acre development property with existing commercial building in prime location.
      4200 W Vine St, Kissimmee, FL 34741
      View Details
    • $6,900,000
      4.53 Acres

      4.53 Acres Mixed-Use Assemblage

      4.53 acres on US-192, Kissimmee. Multifamily/commercial potential.
      4200 W Vine St, Kissimmee, FL 34741
      View Details
    • $1,700,000
      4.02 Acres

      5+ Acre Mixed-Use Land Tract

      Prime 5+ acre land tract in a growing commercial corridor.
      500 Fore Ln, Kissimmee, FL 34741
      View Details
    • $3,200,000
      16,083 SF

      Mixed-Use Property in Historic Downtown

      Prime mixed-use property in revitalizing historic downtown Kissimmee.
      219 Broadway, Kissimmee, FL 34741
      View Details
    • $3,200,000

      Historic Downtown Kissimmee Mixed-Use Property

      Premier investment opportunity in the heart of Historic Downtown Kissimmee.
      219 Broadway, Kissimmee, FL 34741
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      41,222 SF

      City Centre Kissimmee Office Building

      Prime Kissimmee Retail & Office Space
      222 Broadway, Kissimmee, FL 34741
      View Details
    • $28 SF/Yr

      Medical Office Building For Lease

      Turnkey medical office near two major hospitals.
      1205 N Central Ave, Kissimmee, FL 34741
      View Details
    • $150,000

      High-Traffic Kissimmee Commercial Land

      Pre-leasing opportunity on John Young Parkway, Kissimmee.
      1591 John Young Pkwy, Kissimmee, FL 34741
      View Details
    • $30 SF/Yr
      5,000 SF

      Prime Kissimmee Commercial Space

      Pre-leasing opportunity in high-traffic Kissimmee corridor, ideal for various uses.
      1591 John Young Pkwy, Kissimmee, FL 34741
      View Details
    • Contact for pricing

      Logistics Park Development Opportunity

      Development of high-quality, well-located industrial properties.
      1301 Flora Blvd, Kissimmee, FL 34741
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1608 Patrick St
    Kissimmee, FL 34741
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1608 Patrick St, Kissimmee, FL, 34741
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!