407 Lake Howell RdMaitland, FL 32751

Property Details for 407 Lake Howell Rd

Year built

1959

Construction

CONCRETE BLOCKS

Lot size

0.67 AC

Property size (Sq ft)

1,240 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

28-21-30-300-0270-0000

APU

28213030002700000

Description

This exceptional 6,117 square foot medical office building, located at 407 Lake Howell Rd, Maitland, FL 32751, presents a compelling investment opportunity. Currently operating at 100% occupancy with 24 tenants on month-to-month leases, this property boasts a strong, consistent cash flow, reflected in its $85,932 Net Operating Income (NOI) and 5.37% cap rate. The asking price is $1,600,000, translating to $261.57 per square foot. Built in 1959 with extensive renovations completed in 2016, the single-story building features three lobbies, five bathrooms, a conference room, and a kitchen. The property sits on a 29,200 square foot lot and includes ample parking, both front and rear, with approximately 29 designated spaces. The building is zoned OR and is situated in a prime location, just two blocks from Highway 436 and one block from Winter Park, surrounded by other medical facilities, making it easily adaptable for various medical uses. The property's excellent condition, high occupancy rate, and strong cash flow make it an ideal owner-user or investment property. The seller will provide the last twelve months of utility bills and sales tax reports to verify gross rents. A clear title search is available upon request. The building's location is highly desirable and easily accessible from major roadways.

• CAP approach

  CAP return

  Valuation

  6%

  $191,882

  6.5%

  $177,122

  7%

  $164,470

• Comparable approach

  Method

  Valuation

  Relative Method

  $138,421

  Geo Method

  $138,421

• Alternative Use

  Use

  Valuation

  Residential

  $219,631

  Hospitality

  $201,181

  Educational

  $167,380

  Medical

  $173,137

  Retail

  $260,369

Location Insight

City

Maitland

County

Seminole

State

Florida

Latitude

28.6267

Longitude

-81.3237

CBSA code

36740

CBSA name

ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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