Renovated Office
For Sale
$2,450,000
701 E SOUTH Street, Orlando, FL 32801
Commercial Sale, ORLANDO, FL
Property Size9,918 SF
Lot Size0.62 Acres
Price / SF$247.03
Days on Market402
Property Features for 701 E SOUTH Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
O-1/T/AN
View
Lake
Directions
I-4 to Anderson Street. Take exit 11B from FL-408 E/ State Road 408 E. Drive 2 minutes to E South Street.
Subdivision
32801 - Orlando
Standard status
Active
APN
29-22-25-4712-00-050
Size
9,918 SF
Lot size
0.62 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LAKE OLIVE SHORES R/19 LOTS 5 & 6 & W 140 FT OF LOT 7 (LESS S 10 FT OF LOTS 5 &6) & (LESS W 10 FT OF LOTS 6 & 7)
Tax Annual Amount
26587
Legal Description
LAKE OLIVE SHORES R/19 LOTS 5 & 6 & W 140 FT OF LOT 7 (LESS S 10 FT OF LOTS 5 &6) & (LESS W 10 FT OF LOTS 6 & 7)
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Water front features
Lake Front
Water front
1
Building Details
Year built
1986
Building materials
Block, Frame
Roof type
Membrane, Tile
Listing Agency:
DOVER INTERNATIONAL CO., INC.
(407) 333-0711
Listed By:
Kimberly Robinson · License #BK3113676
(407) 488-7236
Added: Jul 31, 2025
Changed: Aug 24
Last Checked: Sep 5 at 6:06PM
MLS# O6332121
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 9,918-square-foot office building was constructed in 1986 and is arranged as two integrated units. Interior features include conference rooms, private offices, partitioned work areas, staff lounges, and restrooms on each floor, with elevator access and multiple stairways. Renovations include updated interior and exterior paint, refreshed restrooms, reconfigured office and conference layouts, a new security system, galvanized steel stairs, and LED lighting replacing fluorescent fixtures. Central air serves the building, which has block and frame construction and tile and membrane roofing.
The property occupies 0.62 acres and has lake-front features. Public water and public sewer serve the site. Zoning is O-1/T/AN, and a governmental tenant occupies the property.
The property occupies 0.62 acres and has lake-front features. Public water and public sewer serve the site. Zoning is O-1/T/AN, and a governmental tenant occupies the property.
Key Highlights
- 9,918‑square‑foot office building on a 0.62‑acre site
- Two integrated units with offices, conference rooms, lounges, and restrooms on each floor
- Renovated with updated paint, restrooms, layouts, security system, stairs, and LED lighting
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
$185,219
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
7.56%
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%
$3,704,380
$3.7M
Cap Rate 7%
$2,645,986
$2.6M
Cap Rate 9%
$2,057,989
$2.1M
Market Conditions
NOI Build-Up for 9,918 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
$297.5K $30.00/SF
− Vacancy
−$50.6K −$5.10/SF
EGI
$247.0K $24.90/SF
− OpEx
−$61.7K −$6.23/SF
NOI
$185.2K $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%
$3,704,380
Cap Rate 7%
$2,645,986
Cap Rate 9%
$2,057,989
Alternative Uses
Best Use
Office B
$2.65M
$2.32M – $3.09M
NOI $185,219 @ 7.0% cap · market cap 7.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.19M
$2.80M – $3.73M
NOI $223,645 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,887
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 - Two integrated office units offer reconfigured work areas, conference rooms, elevator service, and updated building systems.
Where is this office building located?
The property is located at 701 E SOUTH Street Orlando, FL.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: 9,918‑square‑foot office building on a 0.62‑acre site; Two integrated units with offices, conference rooms, lounges, and restrooms on each floor; Renovated with updated paint, restrooms, layouts, security system, stairs, and LED lighting
