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155 Middle Street, Lake Mary, FL

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155 Middle Street

Lake Mary, FL 32746 - Lake Mary Submarket

Property Type:Office Sub Type:- Status:Existing Year Built:2011
Stories:1 Typical Floor:7,000 SF Building Size:7,000 SF
Smallest Space:1,750 SF Largest Space:1,750 SF Total Space Avail:1,750 SF Rent/SF/Yr:
Parking:Free Surface spaces are available; Ratio of 2.14/1,000 SF

Space Available:
SF Avail
Lease Term
Space Use
1,750 SF
3 yrs
Space Notes Space Notes  

SF Avail
Lease Term
Space Use
1,750 SF
3 yrs
100% Leased

1. Summary:
?Property: Lake Mary Professional Offices consist of two new, fully built-out, 1-story office
buildings with a total of 7,000 rentable square feet and excellent on-site parking.
?Occupancy: 100% Occupied with Professional Tenants
?Location & Neighborhood: The Property is in Lake Mary, ranked the #1 small town in Florida
by CNN/Money Magazine. The greater neighborhood has been developed recently with several
new modern corporate office complexes, such as Primera, and power-sized shopping center such
as Target, Staples, Publix Center, Lake Mary Center and Gander Mountain – all within about a
mile to the west. Apartment complexes, condominiums, smaller offices, retail shopping centers
and the Lake Mary Post Office round out this thriving commercial hub. The elite neighborhoods of
Heathrow and Alaqua Lakes are only 2 and 3 miles, respectively, away from the site and among
the most well-heeled communities in Greater Orlando. The buildings are well located at the quiet
end of Middle Street and enjoy rear views of the park-like lands which adjoin the site to the east.
?Major Traffic Arteries: The property is located on the east side of Middle Street, just south of
Lake Mary Boulevard. This well established commercial, retail and office area of Lake Mary is just
one mile east of the Interstate 4 (I-4) interchange, allowing quick regional access as well.
II. Sale Price and Projected Ratios:
Projected Sale Price $1,370,000
Acq. Loan (68.5% of Sale Price) $ 937,500
Equity $ 432,500
Projected Net Operating Income (NOI) $ 109,923
Debt Service Coverage (DSC) 1.44
(6.5% - 25yr Amortization –
8.1025% Ann. Constant )
1st Year Cash on Cash Return 11.4%

Smith McIntosh Properties
Commercial Equity Partners

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