GoCommercial · Compass
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Development Cost Analysis
3281 Lindfields Boulevard
Kissimmee, FL 34747  ·  Osceola County  ·  0.986 Acres
13,500 SF · Two-Story Retail/Office CDP05-0003 / EIP05-0064 100% Construction Documents On File Prepared March 2026
Total Building Area
13,500
SF · Two stories (6,750 SF each)
Site Area
0.986
Acres · 42,950 SF gross
Parking Provided
46
Spaces · 44 regular + 2 ADA
Permitted Uses (CDP05-0003)
6
Use categories approved
Project Context & Entitlement Status
Key development parameters derived from Lindfield's Plaza 100% Construction Documents (Klima Weeks Civil Engineering, August 2005 / Revised December 2005)
Parcel ID05252739550001000c
Zoning / CDPCDP05-0003, EIP05-0064
Building TypeTwo-Story Retail/Office (PD)
GBA – Floor 1 (Retail)6,750 SF
GBA – Floor 2 (Office)6,750 SF
Total GSF13,500 SF (31% site coverage)
Building HeightTwo-Story
Setbacks85' (SR 192) · 35' front · 15' side · 7' landscape buffers
Road FrontageLinfields Blvd + SR 192 / US-441 corner
AccessLinfields Blvd (primary) + Private Drive (east)
Impervious (on-site)0.56 AC
Open Space0.27 AC
Parking Ratio1 space / 300 SF (office/retail)
StormwaterStormTech SC-310 chamber system
Water / SewerToho Water Authority
Engineer of RecordKlima Weeks Civil Engineering
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Significant Entitlement Value — 100% Construction Documents On File
This parcel carries approved 100% construction documents from Osceola County (CDP05-0003 / EIP05-0064), including full civil engineering drawings, site plan, grading, drainage, utility, landscape, and lighting plans. While a buyer should confirm current code compliance and permit validity with the county, the existence of approved CDs represents substantial pre-development cost savings — typically $150,000–$275,000 in design/engineering fees and 12–18 months of entitlement timeline — that should be reflected in land pricing.
Methodology & Unit Cost Assumptions
Based on 2025–2026 Florida/Central Florida market data. Sources: RS Means, Claris Design Build, Solutions GC (Dallas/Atlanta/Orlando composite), and industry benchmarks for Osceola County.
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Basis of Estimate
Per current market data for the Orlando/Kissimmee submarket: single-story commercial construction ranges $238–$286/SF (low–high); two-story mid-rise office/retail construction is typically priced at $320–$410/SF for the Central Florida South market. This analysis uses a Base Case of $355/SF (mid-market, two-story, non-luxury finish) and models a Conservative ($390/SF) and Optimistic ($315/SF) range. All figures are hard construction costs (materials + labor); see below for full cost stack including soft costs, site work, and impact fees.
Detailed Construction Cost Stack — Base Case
13,500 SF two-story retail/office building on a 0.986-acre cleared site, Kissimmee, FL 34747
Cost Category Basis / Metric Unit Cost Total (Base)
A. Site Work & Civil
Site Clearing & Grubbing 0.986 AC · Already cleared per property analysis $2,500/AC $2,465
Rough Grading & Earthwork 0.986 AC per CDs (minor grading, flat site) $8,000/AC $7,888
Stormwater / Drainage System StormTech SC-310 per CDs · inlets + chamber system Lump Sum $85,000
Sanitary Sewer Connections Toho Water Authority · stub-out on-site per CDs Lump Sum $28,000
Water Main & Fire Service 8" PVC main + fire hydrant + backflow assembly per CDs Lump Sum $35,000
Asphalt Paving (Parking + Drive Lanes) 0.56 AC on-site impervious · 1.5" Type S-III surface $4.50/SF $109,800
Concrete Sidewalks & Curbing 5' walks, Type C & D curbs, bollards per CDs $9.50/SF $42,750
Landscaping & Irrigation Per L100/L200/LI100 plan — trees, sod, shrubs, auto irrigation Lump Sum $55,000
Site Lighting (Poles & Fixtures) Per E001/E002 — Lithonia arm-mounted + building fixtures Lump Sum $28,000
Signage (Monument + Directional) 2 monument sign locations per E002 Lump Sum $18,000
Site Work Subtotal $411,903
B. Building Construction (Hard Costs)
Foundation / Slab-on-Grade 13,500 SF footprint · 4" slab · spread footings $18/SF $243,000
Structural Frame (Masonry / CMU / Steel) Two-story · load bearing masonry + steel at second floor $38/SF $513,000
Exterior Skin (Stucco / Façade) Perimeter area approx. 11,200 SF of exterior wall $22/SF façade $246,400
Roof System (TPO / Flat + Slope) 6,750 SF roof deck · TPO membrane over insulation $18/SF $121,500
Interior Framing, Drywall & Insulation Demising walls, corridor partitions, tenant dividers $14/SF $189,000
Doors, Frames & Hardware Storefront glazing ground floor + office doors above $12/SF $162,000
Flooring (Retail Shell + Office) Polished concrete shell F1; VCT/carpet tile F2 $9/SF $121,500
Ceilings & Finishes 2x4 ACT grid office / open retail shell F1 $8/SF $108,000
Plumbing (Rough + Finish) Multi-tenant; restrooms per floor + retail stub-outs $22/SF $297,000
HVAC (Rooftop Units + Distribution) Split commercial RTUs per floor; 13,500 SF total conditioned $28/SF $378,000
Electrical (Service + Distribution + Lighting) Per E102 electrical plan — 400A+ commercial service, 2-panel $26/SF $351,000
Fire Protection / Sprinklers Wet pipe NFPA 13 per Osceola County requirement $5.50/SF $74,250
Elevators / Stairs 1 commercial elevator + 2 interior stair assemblies (ADA req.) Lump Sum $95,000
Miscellaneous & General Conditions Dumpster enclosure, bollards, temporary facilities, cleanup 4% of above $115,527
Building Hard Cost Subtotal ~$224/SF avg. $3,015,177
C. Contractor Overhead, Profit & Contingency
General Contractor Overhead & Profit Central FL market; mid-size commercial GC 12% of hard costs $361,821
Construction Contingency Standard for vertical commercial new construction 8% of hard costs $241,214
GC & Contingency Subtotal $603,035
D. Soft Costs & Professional Fees
Architecture / Engineering Fees CDs already on file (buyer to re-engineer for code updates); est. partial re-stamp/update 5% of hard costs $150,759
Civil Engineering / Survey Updates Survey update, utility coordination, any access revisions Lump Sum $28,000
Geotech / Environmental Phase I + borings (existing geo report from 2004 will need refresh) Lump Sum $18,500
Legal / Title / Closing Costs Entity formation, title, doc stamps (excl. land acquisition) Lump Sum $22,000
Project Management / Developer Fee Owner's rep or developer overhead 3.5% of hard costs $105,531
Marketing / Pre-Leasing Broker fees, LOIs, pre-construction leasing Lump Sum $35,000
Soft Costs Subtotal $359,790
E. Permits, Impact Fees & Government Charges
Osceola County Building Permit Based on construction valuation per Appendix A fee schedule (Oct 2025) ~1.4% of valuation $52,000
Plan Review Fees Commercial plan review, fire, zoning, environmental Lump Sum $18,000
Osceola County Mobility Impact Fees New rates effective June 18, 2025 (significant increase — Office use ~$8,000–$12,000/1,000 SF est.) ~$9/SF $121,500
Water / Sewer Connection Fees (Toho) ERU-based; multi-tenant commercial building Lump Sum $42,000
FDOT / ROW Permits (SR 192 adjacency) Required for any work within SR 192 ROW per CDs Lump Sum $8,500
Permits & Impact Fees Subtotal $242,000
F. Construction Financing (Interest Reserve)
Construction Loan Interest Reserve ~$3.5M loan at 8.25% for 18-month build period (avg. 60% drawn) Lump Sum $259,875
Loan Origination / Closing Costs 1.5 points on construction loan 1.5% $52,500
Financing Subtotal $312,375
Total Development Cost (Excl. Land) $334/SF blended $4,944,280
+ Land Acquisition (Recommended List Price) $32.00/SF land $1,375,000
Total All-In Development Cost $460/SF blended $6,319,280
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Osceola County Impact Fee Alert
Osceola County approved a significant mobility impact fee increase effective June 18, 2025. Office and retail uses face materially higher per-square-foot fees than prior years. Buyers should independently verify current impact fee schedules with Osceola County Community Development prior to underwriting. For reference, the increase for office/professional services was substantial; a pre-permit filing strategy should be explored.
Scenario Analysis — Development Cost Range
Three construction cost scenarios for the 13,500 SF project reflecting current Central Florida market conditions
Optimistic
Low-End Market
Hard Cost Rate $315/SF
Scenario Basis Value-eng. / owner-builder
Building Hard Costs $4,252,500
Site + Soft + Fees $1,015,668
Financing $285,000
Excl. Land $5,553,168
All-In w/ Land $6,928,168
$513/SF all-in
Base Case
Recommended
Hard Cost Rate $355/SF
Scenario Basis Mid-market GC, standard finish
Building Hard Costs $4,792,500
Site + Soft + Fees $1,013,693
Financing $312,375
Excl. Land $4,944,280
All-In w/ Land $6,319,280
$468/SF all-in
Conservative
High-End / Risk-Adjusted
Hard Cost Rate $390/SF
Scenario Basis Premium finish / labor escalation
Building Hard Costs $5,265,000
Site + Soft + Fees $1,081,508
Financing $344,250
Excl. Land $6,690,758
All-In w/ Land $8,065,758
$597/SF all-in
Feasibility & Return Benchmarks
Estimated stabilized value and returns based on Base Case total development cost of $6.32M. Rental rates sourced from Four Corners / West 192 submarket comparable leases.
Use Mix Scenario Rental Rate Annual Gross Rent NOI (est. 85% occ / 35% opex) Stabilized Value @ 7.0 Cap Dev. Spread (Base Case)
Retail Only (NNN) — 13,500 SF $20/SF NNN $270,000 $229,500 $3,278,571 Negative — under
Blended Retail + Office (F1 retail $22 NNN / F2 office $18 gross) $20/SF blended $297,000 $252,450 $3,606,429 Below cost
Medical / Professional — Premium Uses (dental, urgent care, PT) $28/SF NNN $378,000 $321,300 $4,590,000 Modest gap
Owner-User / Single Tenant (QSR, medical, childcare) Sale comparable $350–$420/SF improved — — $4,725,000–$5,670,000 Tightest spread
Condo / Sell-Off by Unit (2,000–3,375 SF office condos) $220–$260/SF sale — — $2,970,000–$3,510,000 (x4 units) Best exit — per unit
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Developer's Pencil — Key Takeaways
At a $1.375M land price and Base Case construction cost of ~$4.94M, total all-in is approximately $6.32M. Traditional income capitalization at current market cap rates does not fully support this cost stack at standard retail/office rents — consistent with why the land is priced where it is (access-constrained). The highest-return path is: (1) medical/professional office or childcare NNN use at premium rents ($26–$32/SF), (2) owner-user sale of the improved building to an end-user operator, or (3) condo office unit sell-off to individual practitioners. These strategies are also the exact buyer profiles identified in the property analysis. The presence of approved 100% construction documents meaningfully compresses the development risk premium a qualified buyer must carry.
Key Cost Drivers & Buyer Considerations
  • Osceola County Mobility Impact Fees (June 2025 increase): The BCC-approved mobility impact fee hike — effective June 2025 — is among the most significant development cost variables for this site. Office/retail categories face substantially increased per-SF fees. A buyer who files a complete permit application before any subsequent increase can lock in the current schedule. This is a material timing consideration for underwriting.
  • Construction Document Value: The 100% construction documents on file (CDP05-0003/EIP05-0064, Klima Weeks Civil Engineering) represent a meaningful cost and time savings. However, a buyer should budget for architectural/engineering review and potential re-stamping for updated Florida Building Code compliance (2020 FBC is current; the CDs were prepared to 2005 standards). Estimated re-engineering cost: $75,000–$150,000 vs. $250,000+ for new CDs from scratch.
  • Access Narrative: The site's access solution (Linfields Blvd primary + eastern private drive per CDs) is already engineered into the construction documents. This is a critical unlock — the value uncertainty is not in engineering but in executing the easement or jurisdictional access confirmation. A buyer who resolves access pre-permit compresses both cost and schedule risk significantly.
  • Elevator Requirement: The two-story configuration triggers ADA elevator requirements under the Florida Building Code. One commercial elevator is included in this estimate at ~$65,000–$80,000 installed. Some buyers may explore a single-story alternative development plan to eliminate this cost line.
  • Tariff & Material Escalation (2025–2026): Steel, aluminum, and imported materials remain subject to tariff-driven cost volatility in 2025–2026. A 5–10% materials escalation contingency is recommended above the standard 8% construction contingency for projects breaking ground in H2 2025 or beyond.
  • Single-Story Alternative: A buyer who elects to construct a single-story 6,750–8,000 SF building (retail or medical) would reduce the hard cost budget by approximately 40–45% while potentially generating comparable NOI per occupied tenant. This is worth modeling as a value-engineering scenario for owner-users and medical operators.
Disclaimer: This construction cost analysis is prepared for informational and marketing purposes only by GoCommercial Group at Compass Florida LLC. All figures are estimates based on publicly available industry data (RS Means, Osceola County fee schedules, Orlando/Central Florida contractor market data) and professional judgment as of March 2026. Actual construction costs will vary based on contractor bids, final scope, material conditions, permitting timelines, and financing terms. GoCommercial Group is a commercial real estate brokerage and does not provide construction, engineering, or development advisory services. All buyers are strongly advised to retain licensed general contractors, civil engineers, and legal counsel for independent cost verification prior to making any investment or development decision. This analysis does not constitute a feasibility study, appraisal, or guarantee of development economics.
GoCommercial Group at Compass Florida LLC
Excellence in Commercial Real Estate  ·  GoCommercial.com
Brad Kuskin, Founding Principal
bkuskin@gocommercial.com  ·  (561) 232-7899
3281 Lindfields Blvd · Construction Cost Analysis · March 2026