Block Construction Office
For Sale
$5,990,000
421 E ROBINSON Street, Orlando, FL 32801
Commercial Sale, ORLANDO, FL
Property Size9,479 SF
Lot Size0.68 Acres
Price / SF$631.92
Days on Market461
Property Features for 421 E ROBINSON Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
O-2/T
Subdivision
HILLMANS FIRST ADD
View
Lake
Directions
Take I-4 to exit 84A for Amelia Street towards E. Colonial Drive(FL-50). Turn right on W Amelia St. Turn right on N Orange Ave. Turn right on Robinson Street. The property will be on your left at the corner of Robinson Street and Hillman Avenue.
Standard status
Active
APN
25-22-29-3632-00-040
Size
9,479 SF
Lot size
0.68 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HILLMANS FIRST ADDITION D/56 LOTS 4 & 12& E 41.3 FT OF LOT 3 & E 40 FT OF S1/2LOT 11 & E 25.75 FT OF N1/2 LOT 11
Tax Annual Amount
38530
Legal Description
HILLMANS FIRST ADDITION D/56 LOTS 4 & 12& E 41.3 FT OF LOT 3 & E 40 FT OF S1/2LOT 11 & E 25.75 FT OF N1/2 LOT 11
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Zoned
Water source
Public
Building Details
Year built
1965
Floors in Building
1
Building materials
Block
Listing Agency:
DOVER INTERNATIONAL CO., INC.
(407) 333-0711
Listed By:
Kimberly Robinson · License #BK3113676
(407) 488-7236
Added: May 22, 2025
Changed: Aug 20
Last Checked: Aug 25 at 3:06AM
MLS# O6311604
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.
The property includes a 9,479-square-foot block construction building completed in 1965 on a 0.68-acre site. Existing improvements include central air, zoned cooling, electric and central heating, public water, and public sewer service. The O-2/T zoning designation supports the property’s office classification, while the existing structure provides a basis for continued use or redevelopment planning.
The site is located in Downtown Orlando near Lake Eola Park and the Walt Disney Amphitheater. Lake Eola amenities include a pagoda, swan boats, a playground, and a 0.9-mile concrete walking path. Previously approved city plans contemplated a seven-story mixed-use project with one-, two-, and three-bedroom residences, restaurant and office components, and a parking garage.
The site is located in Downtown Orlando near Lake Eola Park and the Walt Disney Amphitheater. Lake Eola amenities include a pagoda, swan boats, a playground, and a 0.9-mile concrete walking path. Previously approved city plans contemplated a seven-story mixed-use project with one-, two-, and three-bedroom residences, restaurant and office components, and a parking garage.
Key Highlights
- 9,479‑square‑foot block construction building completed in 1965
- 0.68‑acre site in Downtown Orlando near Lake Eola Park
- O‑2/T zoning designation
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
$177,020
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
2.96%
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%
$3,540,400
$3.5M
Cap Rate 7%
$2,528,857
$2.5M
Cap Rate 9%
$1,966,889
$2.0M
Market Conditions
NOI Build-Up for 9,479 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
$284.4K $30.00/SF
− Vacancy
−$48.3K −$5.10/SF
EGI
$236.0K $24.90/SF
− OpEx
−$59.0K −$6.23/SF
NOI
$177.0K $18.67/SF
Area
Orlando, FL
Vacancy
17.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
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%
$3,540,400
Cap Rate 7%
$2,528,857
Cap Rate 9%
$1,966,889
Alternative Uses
Best Use
Office B
$2.53M
$2.21M – $2.95M
NOI $177,020 @ 7.0% cap · market cap 2.96%
Second Best
Mixed Use
$1.79M
$1.56M – $2.09M
NOI $125,123 @ 7.0% cap · market cap 2.09%
Theoretical Best
Office A
$3.05M
$2.67M – $3.56M
NOI $213,746 @ 7.0% cap · market cap 3.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
9,871
Businesses Nearby
Explore this area
Business Placement
Demographics for 32801, FL
17,728
Population
12,133
Households
1.5
Avg Household Size
36
Median Age
63%
College-Educated
95%
High-School Grad
2.2 sq mi
ZIP Area
8,058
Density / Sq Mi
$77,626
Median Household Income
$63,090
Median Earnings
$1,773
Median Rent
$397,600
Median Home Value
Market
Vacancy Rate% for Office in Orlando, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Existing office property with redevelopment potential under O-2/T zoning near Lake Eola Park.
Where is this office building located?
The property is located at 421 E ROBINSON Street Orlando, FL.
What is the asking price?
The asking price for this property is $5,990,000.
What are key features of this property?
This property features: 9,479‑square‑foot block construction building completed in 1965; 0.68‑acre site in Downtown Orlando near Lake Eola Park; O‑2/T zoning designation
