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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2645 Michigan Ave Kissimmee, FL 34744-1936

    • Strip malls
    • 6,800 SF
    • 0.73 lot acres
    OFF-MARKET
    Value Estimations
    $1,185,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5106255
    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

    • Strip malls

    Property Details for 2645 Michigan Ave

    Year built
    1997
    Lot size
    0.73 lot acres
    Property size
    6,800 SF
    Zone code
    ORPB
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    112529415500010010
    APU
    112529415500010010

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,930,000
      Current use
      INDUSTRIAL (GENERAL)
      $1,875,000
      Change: -3% Conversion: Difficult
      RETAIL STORES
      $1,725,000
      Change: -11% Conversion: Easy
      OFFICE BUILDING
      $1,690,000
      Change: -12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Kissimmee
    County
    Osceola
    State
    Florida
    Longitude
    -81.3909
    Latitude
    28.3247
    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
    $14,480
    $364,300
    $513,300
    $877,600
    -
    $364,300
    $513,300
    $877,600

    Comparable in this City

    • Value Estimation
      $2,335,000
      13,200 SF

      2100 Michigan Ave

      SHOPPING CENTER, STRIP CENTER • 13,200 SF
      2100 Michigan Ave, Kissimmee, FL 34744-2927
      View Details
    • Value Estimation
      $3,245,000
      20,368 SF

      715 Vine St

      SHOPPING CENTER, STRIP CENTER • 20,368 SF
      715 Vine St, Kissimmee, FL 34744-4232
      View Details
    • Value Estimation
      $2,040,000
      12,024 SF

      604 Osceola Pkwy

      SHOPPING CENTER, STRIP CENTER • 12,024 SF
      604 Osceola Pkwy, Kissimmee, FL 34744-1603
      View Details
    • Value Estimation
      $1,240,000
      6,549 SF

      2674 Simpson Rd

      SHOPPING CENTER, STRIP CENTER • 6,549 SF
      2674 Simpson Rd, Kissimmee, FL 34744-4674
      View Details
    • Value Estimation
      $2,900,000
      17,233 SF

      1400 Simpson Rd

      SHOPPING CENTER, STRIP CENTER • 17,233 SF
      1400 Simpson Rd, Kissimmee, FL 34744-4600
      View Details
    • Value Estimation
      $1,055,000
      5,578 SF

      401 Main St

      SHOPPING CENTER, STRIP CENTER • 5,578 SF
      401 Main St, Kissimmee, FL 34744-5260
      View Details

    Similar Nearby for Sale

    • $3,149,000
      10,560 SF

      Donegan Plaza: Kissimmee Retail Center

      Highly profitable, 100% occupied shopping center.
      1156 Donegan Ave, Kissimmee, FL 34744
      View Details
    • Contact for pricing
      2,632 SF

      Kissimmee Retail/Restaurant Opportunity

      2,632 SF building on 0.44 acres in Kissimmee.
      926 N Main St, Kissimmee, FL 34744
      View Details
    • $3,149,000
      10,560 SF

      Kissimmee Retail Plaza - High ROI

      Fully Leased Shopping Center, Prime Location
      1156 Donegan Ave, Kissimmee, FL 34744
      View Details
    • $850,000
      2,242 SF

      Kissimmee Retail Center - High Traffic

      Prime Retail Space, Two Units Leased
      3001 Michigan Ave, Kissimmee, FL 34744
      View Details
    • $595,000
      35,284 SF

      Kissimmee Commercial Land Investment

      Prime .81-acre lot, high-traffic location.
      400 Greenup St, 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

    Similar Nearby for Lease

    • Contact for pricing

      Retail and Restaurant Opportunities

      New development with retail and restaurant spaces for rent.
      S Orange Blossom Trl, Kissimmee, FL 34744
      View Details
    • $25 SF/Yr
      8,140 SF

      Retail Space For Lease

      Retail property with strong traffic and prominent signage available for rent.
      2600 Simpson Rd, Kissimmee, FL 34744
      View Details
    • $45,000
      5 SF

      Kissimmee Retail Land Opportunity

      High-traffic retail land, two parcels available.
      0 Of Us Hwy 192, Kissimmee, FL 34744
      View Details
    • Contact for pricing

      Retail Space Available for Lease

      Retail space available for lease at 2631 E Irlo Bronson Memorial Hwy.
      2631 E Irlo Bronson Memorial Hwy, Kissimmee, FL 34744
      View Details
    • $31 SF/Yr
      2,760 SF

      Retail Space in Downtown Kissimmee

      Retail space in the heart of downtown Kissimmee's business district.
      11 Neptune Rd, Kissimmee, FL 34744
      View Details
    • Contact for pricing
      78,397 SF

      Kissimmee Retail Center - For Lease

      Prime Osceola County retail space available.
      2338 Irlo Bronson Memorial Hwy, Kissimmee, FL 34744
      View Details
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    2645 Michigan Ave
    Kissimmee, FL 34744-1936
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    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
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