Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1515 Michigan Ave Kissimmee, FL 34744-3567

    • Office buildings
    • 7,120 SF
    • 0.92 lot acres
    OFF-MARKET
    Value Estimations
    $1,820,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0298694
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Osceola Christian Preparatory School / High School
    • IEP Academy / Training Center / Tutoring Service
    • Star Athletes / Training Center
    • Escuela / High School

    Property Details for 1515 Michigan Ave

    Year built
    1982
    Lot size
    0.92 lot acres
    Property size
    7,120 SF
    Zone code
    KHC
    Property type
    Office buildings
    APN
    14252900U003060000
    APU
    14252900U003060000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,890,000
      6.5%
      $1,745,000
      7%
      $1,620,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,164,000
      Market price range: $1.38M - $2.46M
      AI Estimate
      $1,552,000
      Market price range: $573k - $1.81M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,770,000
      Current use
      AUTO REPAIR, GARAGE
      $2,130,000
      Change: +20% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $2,020,000
      Change: +14% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $1,965,000
      Change: +11% Conversion: Difficult
      RETAIL STORES
      $1,805,000
      Change: +2% Conversion: Moderate
      WAREHOUSE, STORAGE
      $1,575,000
      Change: -11% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Kissimmee
    County
    Osceola
    State
    Florida
    Longitude
    -81.3908
    Latitude
    28.3058
    CBSA code
    36740
    CBSA name
    ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $20,022
    $460,800
    $773,400
    $1,234,200
    -
    $460,800
    $773,400
    $1,234,200

    Comparable in this City

    • Value Estimation
      $4,305,000
      15,304 SF

      1301 Osceola Pkwy

      PROFESSIONAL BUILDING • 15,304 SF
      1301 Osceola Pkwy, Kissimmee, FL 34744-1605
      View Details
    • Value Estimation
      $1,385,000
      5,257 SF

      2229 Fortune Rd

      PROFESSIONAL BUILDING • 5,257 SF
      2229 Fortune Rd, Kissimmee, FL 34744-4404
      View Details
    • Value Estimation
      $2,655,000
      10,738 SF

      2710 Orange Blossom Trl

      PROFESSIONAL BUILDING • 10,738 SF
      2710 Orange Blossom Trl, Kissimmee, FL 34744-1309
      View Details
    • Value Estimation
      $1,090,000
      3,036 SF

      1345 Shakerag Rd

      PROFESSIONAL BUILDING • 3,036 SF
      1345 Shakerag Rd, Kissimmee, FL 34744-4446
      View Details
    • Value Estimation by Request
      1,837 SF

      Irlo Bronson Mem Hwy

      OFFICE BUILDING • 1,837 SF
      Irlo Bronson Mem Hwy, Kissimmee, FL 34744
      View Details
    • Value Estimation
      $960,000
      4,466 SF

      711 Oak St

      PROFESSIONAL BUILDING • 4,466 SF
      711 Oak St, Kissimmee, FL 34744-4573
      View Details

    Similar Nearby for Sale

    • $1,600,000
      2,106 SF

      Office Building on US-192 Frontage

      Frontage commercial property on US-192 near NeoCity and Osceola Heritage Park.
      1680 Irlo Bronson Memorial Hwy, Kissimmee, FL 34744
      View Details
    • $300,000
      1,568 SF

      Kissimmee Mixed-Use Investment

      Historic District, High NOI, 100% Occupied
      105 Cypress St, Kissimmee, FL 34744
      View Details
    • $850,000
      2,084 SF

      Kissimmee Retail/Office Investment Opportunity

      Retail/office property in booming Kissimmee area, currently leased.
      3001 Michigan Ave, Kissimmee, FL 34744
      View Details
    • Contact for pricing
      178,995 SF

      Heritage Key Villas: Kissimmee, FL

      Luxury Apartment Complex, 521 Units
      2089 Heritage Key Blvd, Kissimmee, FL 34744
      View Details
    • $2,500,000
      1,248 SF

      Kissimmee Mixed-Use Development Land

      Prime location, high growth potential, 5.36 acres.
      4210 Cardinal Ln, Kissimmee, FL 34744
      View Details
    • $285,000
      1,568 SF

      Kissimmee Mixed-Use Commercial Building

      Historic Kissimmee investment opportunity: two-unit income property.
      105 Cypress St, Kissimmee, FL 34744
      View Details

    Similar Nearby for Lease

    • $21 SF/Yr
      36 SF

      Class A Office Building Opportunity

      Proposed Class A office space with high visibility and ample parking.
      1200 Kevstin Dr | Kissimmee, Kissimmee, FL 34744
      View Details
    • $34,800

      Professional Office Space Available Soon

      Office suite with private offices, open space, and exclusive signage.
      1310 N Main St, Kissimmee, FL 34744
      View Details
    • $1,500 /Mo
      1,000 SF

      Move-in Ready Office Space

      Professionally managed office space in prime business location.
      2583-2591 N Orange Blossom Trl, Kissimmee, FL 34744
      View Details
    • $46,615

      Warehouse and Office Space Available

      3,453 sq ft warehouse and office space for rent.
      1523-1525 Kelley Ave, Kissimmee, FL 34744
      View Details
    • $25,200

      Professional Office Condo For Lease

      Office condo for lease in desirable location near Florida Turnpike.
      2901 E Irlo Bronson Memorial Hwy, Kissimmee, FL 34744
      View Details
    • $25 SF/Yr
      4 SF

      Professional Office Space Available

      Vanilla shell office space in Kissimmee Professional Village.
      1040 Kevstin Dr, Kissimmee, FL 34744
      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.
    1515 Michigan Ave
    Kissimmee, FL 34744-3567
    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

    Google sign-in failed. Please try again or use another login method.