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Property summary
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.
Property profile
VerifiedCap rate & NOI
Current use
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Physician
Location
Value estimations
Owner & transaction history
Zoning & alternative use
The purpose of the C-1 Highway Commercial District is to provide for commercial uses of land and buildings along highway frontage.
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Value estimation
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Cap rate
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Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
C1 · Lake Placid, FLThe purpose of the C-1 Highway Commercial District is to provide for commercial uses of land and buildings along highway frontage.
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
The purpose of the C-1 Highway Commercial District is to provide for commercial uses of land and buildings along highway frontage.
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for C1 in Lake Placid, FL.
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