Kissimmee real estate broker Aamir Khan is introducing a new "smart home" concept on Neptune Road, at the halfway point between the city's new SunRail station and Osceola County's high tech research park, NeoCity.
Khan bought four contiguous lots on Neptune Road and Lakeview Avenue in 2015 for a combined $69,000. He worked closely with architect Roger Leibin to develop a home design that could accommodate two families but maintain the look of a single-family home.
Each SMARTECHOME (Smart+Tech+Home) would combine a four-bedroom, 2.5-bathroom ground floor unit with a separate upstairs two-bedroom apartment. The second-floor unit has its own covered parking and private entrance from the carport. The total square footage would be 2,500 square feet.
Khan told GrowthSpotter his goal was to give buyers greater flexibility to live in one unit and use the other for rental income or as an in-law suite.
"These are common in most big cities," he said. "I'm a real estate broker and I bring investors who want a certain rate of return. Let's say the house is $300,000. If you can charge $3,000 rent for the upstairs unit, it makes it easier to get financing."
Each SMARTECHOME would come equipped with smart technology that connects features to a proprietary mobile app, and would be priced below $300,000, he said.
Khan has applied for a building permit for the first house at 1345 Neptune Road. He said he hopes to start with six homes (12 units) this year, but his ultimate goal is to franchise the concept.
"There's really no competition in that arena," he said.
Khan said he is already in discussions with prospective franchisees in India and the Maldives. Each franchisee would own the trademark rights, home designs and intellectual property. "So they don't have to reinvent the wheel," he said.