346 E Royal Palm St Lake Placid, FL 33852
Property profile & analytics
346 E Royal Palm St Lake Placid, FL 33852
- Medical Office Space
- 6,248 SF
- 0.91 lot acres
Property ID
US18-3493728
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.
Location Intelligence
Current Use by Public Records
- Sandi M. Holmes, MSPT / Physician
Property Details for 346 E Royal Palm St
- Year built
- 1996
- Construction
- CONCRETE BLOCKS
- Lot size
- 0.91 lot acres
- Property size
- 6,248 SF
- Zone code
- C1
- Property type
- Medical Office Space
- Property subtype
- Medical centers
- APN
- P-06-37-30-091-0030-00C0
- APU
- P063730091003000C0
Description
This exceptional 6,200+ square foot medical office building is ideally situated at 346 E Royal Palm Street in Lake Placid, Florida, 33852. Boasting prime visibility on US Highway 27, this property benefits from a full median turn and exceptionally high daily traffic counts – the highest in Lake Placid, averaging 20,400 vehicles. Previously occupied by a physical therapy practice for over 20 years, the building offers established site recognition and is ready for immediate occupancy. The property is being sold vacant, presenting a unique opportunity for a new owner to establish their own practice or adapt the space to suit other medical or professional uses. The building is well-maintained and features a recently replaced roof (less than 6 years old) and a newly updated air conditioning system (less than 1 year old). The parking lot has also been recently resealed. Priced competitively at $1,200,000 ($194 per square foot), this represents a significant value compared to replacement cost. This turnkey property offers a rare chance to acquire a high-visibility, well-maintained commercial building in a thriving location. Don't miss this opportunity to own a piece of Lake Placid's commercial landscape. The building was constructed in 1996 and sits on a lot with no recorded square footage.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $905,000
- 6.5%
- $835,000
- 7%
- $775,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $437,000
Market price range: $325k - $685k -
Alternative Use
- Use
- Estimation
- MEDICAL BUILDING
- $1,025,000 Current use
- OFFICE BUILDING
- $1,020,000 Change: -1% Conversion: Easy
- RETAIL STORES
- $945,000 Change: -8% Conversion: Difficult
- WAREHOUSE, STORAGE
- $830,000 Change: -19% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Lake Placid
- County
- Highlands
- State
- Florida
- Longitude
- -81.3591
- Latitude
- 27.295
- CBSA code
- 42700
- CBSA name
- SEBRING, FL MICROPOLITAN 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
$13,076
$199,515
$573,734
$773,249
-
$199,515
$573,734
$773,249
