Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2989 Michigan Ave Kissimmee, FL 34744-1222
    Back to Search
    Property profile & analytics

    2989 Michigan Ave, Kissimmee, FL 34744-1222

    View on Map
    • Grocery and convenience stores
    • 4,000 SF
    • 0.48 lot acres
    Off-Market
    Property ID
    US18-2998288
    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.
    Value Estimations
    $635,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Pisos / Home Decor Store / Department Store

    Property Details for 2989 Michigan Ave

    Year built
    1998
    Lot size
    0.48 lot acres
    Zone code
    KRPU
    Property type
    Grocery and convenience stores
    APN
    22529216500010420
    APU
    22529216500010420

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 16, 2010 $900,000 Popular Ents INC Guerrero,luis R Warranty Deed $716k · Jpmorgan Chase Bank NA
    Nov 16, 2010 — Luis R Guerrero Guerrero,pedro Quit Claim Deed · related —
    Feb 15, 2007 — Luis R Guerrero Michigan Avenue Invetments LLC Grant Deed · related —
    Jul 26, 2006 $960,000 Pedro Guerrero Michigan Avenue Invs LLC Warranty Deed —
    — — Luis R Guerrero — Deed Of Trust · related $260k · Roberto Amador

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $774,000
      Market price range: $704k - $1.43M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,015,000
      Current use
      OFFICE BUILDING
      $995,000
      Change: -2% Conversion: Easy
      WAREHOUSE, STORAGE
      $885,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Kissimmee
    County
    Osceola
    State
    Florida
    Longitude
    -81.3896
    Latitude
    28.3367
    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
    $6,867
    $238,900
    $156,100
    $395,000
    -
    $238,900
    $156,100
    $395,000

    Comparable in this City

    • Value Estimation
      $630,000
      3,012 SF

      2688 Simpson Rd

      CONVENIENCE STORE
      2688 Simpson Rd, Kissimmee, FL 34744-4674
      View Details
    • Value Estimation
      $900,000
      3,060 SF

      1300 Donegan Ave

      CONVENIENCE STORE
      1300 Donegan Ave, Kissimmee, FL 34744-1920
      View Details
    • Value Estimation
      $880,000
      3,166 SF

      1941 Irlo Bronson Memorial Hwy

      CONVENIENCE STORE
      1941 Irlo Bronson Memorial Hwy, Kissimmee, FL 34744-4414
      View Details
    • Value Estimation
      $1,450,000
      9,255 SF

      3081 Michigan Ave

      GROCERY, SUPERMARKET
      3081 Michigan Ave, Kissimmee, FL 34744-1564
      View Details
    • Value Estimation
      $3,275,000
      3,360 SF

      1901 Michigan Ave

      CONVENIENCE STORE
      1901 Michigan Ave, Kissimmee, FL 34744-3504
      View Details
    • Value Estimation
      $985,000
      5,613 SF

      2499 Orange Blossom Trl

      CONVENIENCE STORE
      2499 Orange Blossom Trl, Kissimmee, FL 34744-2345
      View Details

    Similar Nearby for Sale

    • $2,100,000
      672 SF

      Automotive Property on Orange Blossom Trail

      Automotive property available on Orange Blossom Trail in Kissimmee.
      2576 N Orange Blossom Trl, Kissimmee, FL 34744
      View Details
    • $1,190,000

      Prime Commercial Land Opportunity

      Freestanding building on a large lot in high-traffic area.
      410 E Donegan Ave, Kissimmee, FL 34744
      View Details
    • Contact for pricing
      10,600 SF

      Profitable Shopping Plaza For Sale

      Fully leased Kissimmee shopping plaza with future growth potential.
      1156 E Donegan Ave, Kissimmee, FL 34744
      View Details
    • $1,190,000
      2,240 SF

      Prime Commercial Property on Donegan

      High-traffic Kissimmee location ideal for automotive or commercial use.
      410 E Donegan Ave, Kissimmee, FL 34744
      View Details
    • $1,190,000
      0.70 Acres

      Prime Commercial Land in Kissimmee

      High-traffic location suitable for various commercial and light industrial uses.
      410 E Donegan Ave, Kissimmee, FL 34744
      View Details
    • $520,000
      1,530 SF

      Kissimmee Commercial Investment Opportunity

      Freestanding commercial building on high-traffic N Main St (US-441).
      820 N Main St, Kissimmee, FL 34744
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      9,516 SF

      Retail Space on Orange Blossom

      9,516 SF end-cap space with high visibility available for lease.
      2744 N Orange Blossom Trl, Kissimmee, FL 34744
      View Details
    • Contact for pricing
      1,354 SF

      Retail Space in Kissimmee Plaza

      Retail space available in a busy Kissimmee shopping center.
      1301 E Vine St, 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
    • 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
    • Contact for pricing

      Retail Space for Lease

      Retail property available for lease in Kissimmee, Florida.
      2338 E Irlo Bronson Memorial Hwy, Kissimmee, FL 34744
      View Details
    • $27,000
      2,084 SF

      Kissimmee Commercial Space Available

      Commercial space for rent at Michigan Avenue, Kissimmee, Florida.
      3001 Michigan Ave, 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.
    2989 Michigan Ave
    Kissimmee, FL 34744-1222
    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
    2989 Michigan Ave, Kissimmee, FL, 34744
    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!