Triplex with Dual
For Sale
$799,000
1017 N THORNTON Avenue, Orlando, FL 32803
Residential Income, ORLANDO, FL
Property Size2,710 SF
Lot Size0.21 Acres
Price / SF$294.83
Days on Market54
Property Features for 1017 N THORNTON Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R-2A/T
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 6, Bedroom 1, Dining Room, Bathroom 2, Bedroom 2, Bathroom 1, Bathroom 4, Bathroom 5, Bedroom 3, Bedroom 4, Bathroom 3, Bedroom 5
Parking features
Driveway, Open
Interior features
Ceiling Fans(s), Eat-in Kitchen, Living Room/Dining Room Combo
Exterior features
Garden, Lighting, Rain Gutters, Sidewalk, Sprinkler Metered
Fireplace
1
Appliances
Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
Subdivision
LAKE HIGHLANDS HEIGHTS
Elementary school
Audubon Park K8
High school
Edgewater High
Directions
Head toward N Thornton Ave on E Colonial Dr (US-17/US-92). Turn left onto N Mills Ave (US-17/US-92). Turn left onto Weber St. Turn right onto N Thornton Ave.
Standard status
Active
APN
24-22-29-4468-06-010
Size
2,710 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LAKE HIGHLAND HEIGHTS Q/131 LOT 1 BLK F
Tax Annual Amount
11599
Legal Description
LAKE HIGHLAND HEIGHTS Q/131 LOT 1 BLK F
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1953
Floors in Building
2
Flooring type
Wood, Tile, Vinyl
Building materials
Block, Concrete
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS REALTY AT THE PARKS
(407) 629-4420
Listed By:
Thomas Nickley, Jr · License #3275393
(321) 945-1152
Added: Jul 13
Changed: Sep 2
Last Checked: Sep 4 at 8:06AM
MLS# O6425051
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,710-square-foot residential income property occupies 0.21 acres and is classified as a triplex. Built in 1953, the one-story layout includes six bedrooms, five bathrooms, two kitchens, living and dining areas, and a combination of wood, tile, and vinyl flooring. Central electric heating and central air conditioning serve the home, while block and concrete construction, a shingle roof, and a fireplace are among the existing improvements.
Outdoor features include a front porch, open patio, garden areas, lighting, rain gutters, sidewalks, and a metered sprinkler system. The property also has driveway and open parking, public water, and public sewer. Located at 1017 N Thornton Avenue in Orlando's 32803 area, it is near Downtown Orlando, Mills 50, Lake Eola, Ivanhoe Village, restaurants, shopping, parks, schools, and major roadways. Zoning is R-2A/T.
Outdoor features include a front porch, open patio, garden areas, lighting, rain gutters, sidewalks, and a metered sprinkler system. The property also has driveway and open parking, public water, and public sewer. Located at 1017 N Thornton Avenue in Orlando's 32803 area, it is near Downtown Orlando, Mills 50, Lake Eola, Ivanhoe Village, restaurants, shopping, parks, schools, and major roadways. Zoning is R-2A/T.
Key Highlights
- Triplex classification with 2,710 square feet of property area
- Six bedrooms and five bathrooms in a one‑story layout
- Two kitchens support flexible residential configurations
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,447
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$768,940
$768.9K
Cap Rate 7%
$549,243
$549.2K
Cap Rate 9%
$427,189
$427.2K
Market Conditions
NOI Build-Up for 2,710 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$58.5K $21.60/SF
− Vacancy
−$3.6K −$1.33/SF
EGI
$54.9K $20.27/SF
− OpEx
−$16.5K −$6.08/SF
NOI
$38.4K $14.19/SF
Area
Orlando, FL
Vacancy
6.17%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$768,940
Cap Rate 7%
$549,243
Cap Rate 9%
$427,189
Alternative Uses
Best Use
Multifamily LT 5
$549.2K
$480.6K – $640.8K
NOI $38,447 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$501.7K
$439.0K – $585.3K
NOI $35,119 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$873.0K
$763.9K – $1.02M
NOI $61,109 @ 7.0% cap · market cap 7.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,658
Businesses Nearby
Explore this area
Business Placement
Demographics for 32803, FL
21,003
Population
12,225
Households
1.7
Avg Household Size
38
Median Age
59%
College-Educated
96%
High-School Grad
6.8 sq mi
ZIP Area
3,089
Density / Sq Mi
$101,401
Median Household Income
$61,439
Median Earnings
$1,823
Median Rent
$421,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - One-story configuration includes six bedrooms, five bathrooms, and multiple outdoor areas.
Where is this triplex located?
The property is located at 1017 N THORNTON Avenue Orlando, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Triplex classification with 2,710 square feet of property area; Six bedrooms and five bathrooms in a one‑story layout; Two kitchens support flexible residential configurations
