Thornton Park Industrial-Style
For Sale
$475,000
10 N SUMMERLIN Ave 55, Orlando, FL 32801
Expansive loft in vibrant Thornton Park with downtown Orlando views.
Property Size1,833 SF
Price / SF$259.14
Days on Market137
Property Features for 10 N SUMMERLIN Ave 55
General Information
Standard status
Active
Size
1,833 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,124
Building Details
Building Size
1,833 SF
Year Built
2000
Stories
6
Listing Agency:
(407) 802-7337
Listed By:
Parker Blanchard · License #3460165
(407) 802-7337
Source:
Elliman
Added: Apr 15
Changed: Aug 16
Last Checked: Aug 29 at 10:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Parker Blanchard
Investment Insights
Based on property information with market context.
Located in the heart of Thornton Park, this 1,833-square-foot industrial-style loft is positioned on the corner of Summerlin Avenue and Central Boulevard. The residence features soaring ceilings, exposed concrete walls, and an open-concept layout. A metal spiral staircase leads to a versatile lofted second bedroom suitable for a home office, guest retreat, or creative space. Two private balconies offer views of downtown Orlando. Recent upgrades include a new A/C system and water heater in 2023. The property is located near Lake Eola, dining, shopping, and nightlife. The bike score is 71, indicating it is very bikeable. The walk score is 39, indicating car-dependent surroundings. The transit score is 40, indicating some transit options are available. This property offers a blend of architectural design and modern comfort.
Key Highlights
- Prime Thornton Park location on the corner of Summerlin Avenue and Central Boulevard, steps from Lake Eola, dining, shopping, and nightlife.
- Unique 1,833‑square‑foot industrial‑style loft with soaring ceilings, exposed concrete walls, and open‑concept layout.
- Enjoy sweeping downtown Orlando views from two private balconies.**
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
$34,231
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
7.21%
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%
$684,620
$684.6K
Cap Rate 7%
$489,014
$489.0K
Cap Rate 9%
$380,344
$380.3K
Market Conditions
NOI Build-Up for 1,833 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
$55.0K $30.00/SF
− Vacancy
−$9.3K −$5.10/SF
EGI
$45.6K $24.90/SF
− OpEx
−$11.4K −$6.23/SF
NOI
$34.2K $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%
$684,620
Cap Rate 7%
$489,014
Cap Rate 9%
$380,344
Alternative Uses
Best Use
Office B
$489.0K
$427.9K – $570.5K
NOI $34,231 @ 7.0% cap · market cap 7.21%
Second Best
Mixed Use
$345.7K
$302.5K – $403.3K
NOI $24,196 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$590.5K
$516.7K – $688.9K
NOI $41,333 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
9,255
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
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Frequently Asked Questions
What type of property is this?
Live-work space - Expansive loft in vibrant Thornton Park with downtown Orlando views.
Where is this live-work space located?
The property is located at 10 N SUMMERLIN Ave 55 Orlando, FL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Prime Thornton Park location on the corner of Summerlin Avenue and Central Boulevard, steps from Lake Eola, dining, shopping, and nightlife.; Unique 1,833‑square‑foot industrial‑style loft with soaring ceilings, exposed concrete walls, and open‑concept layout.; Enjoy sweeping downtown Orlando views from two private balconies.**
