Freestanding Class A Office
For Sale
$1,450,000
1017 E South St, Orlando, FL 32801
Freestanding Class A office with ten private offices, conference room, reception, informal meeting space, and ample on-site parking.
Property Size2,820 SF
Lot Size0.35 Acres
Price / SF$514.18
Days on Market49
Property Features for 1017 E South St
General Information
Standard status
Active
Size
2,820 SF
Class
A
Lot size
0.35 Acres
Property subtype
Multi Tenant Office
Additional Details
Highway Access
Yes
Office Units
10
Building Details
Building Size
2,820 SF
Year Built
1926
Year Renovated
2017
Listing Agency:
Lee & Associates | Central Florida
(407) 694-0283
Listed By:
Jason Bantel · License ##SL666097
(407) 694-0283
Source:
Thebrokerlist
Added: Jul 15
Changed: Aug 8
Last Checked: Sep 1 at 2:34PM
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 Lee & Associates | Central Florida
Investment Insights
Based on property information with market context.
1017 E. South Street is a freestanding Class A professional office building featuring an efficient interior layout with ten private offices, a large conference room, reception area, informal meeting space, and support area. Originally constructed in 1926 and expanded in 1985, the property underwent extensive renovations completed in 2017 and is offered as move-in ready with updated interior finishes and modern building systems.
The property is situated on a ±0.35-acre site immediately east of Downtown Orlando in the Thornton Park/Lawsona-Fern Creek submarket. It provides access to Downtown Orlando’s business, legal, and financial districts and is described as minutes from the Central Business District, Lake Eola, Dr. Phillips Center for the Performing Arts, Kia Center, Orlando Health, and AdventHealth Orlando, with convenient access to SR 408 and I-4.
With ample on-site parking and a purpose-built office configuration, the building is suited for owner-users or investors seeking a turnkey office asset in a downtown-adjacent setting.
The property is situated on a ±0.35-acre site immediately east of Downtown Orlando in the Thornton Park/Lawsona-Fern Creek submarket. It provides access to Downtown Orlando’s business, legal, and financial districts and is described as minutes from the Central Business District, Lake Eola, Dr. Phillips Center for the Performing Arts, Kia Center, Orlando Health, and AdventHealth Orlando, with convenient access to SR 408 and I-4.
With ample on-site parking and a purpose-built office configuration, the building is suited for owner-users or investors seeking a turnkey office asset in a downtown-adjacent setting.
Key Highlights
- Freestanding 2,820 SF Class A office building on a 0.35‑acre site in the Thornton Park/Lawsona‑Fern Creek submarket
- Built in 1926, expanded in 1985, with extensive renovations completed in 2017
- Efficient interior layout with 10 private offices plus reception, a large conference room, informal meeting space, and support area
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
$52,664
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
3.63%
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%
$1,053,280
$1.1M
Cap Rate 7%
$752,343
$752.3K
Cap Rate 9%
$585,156
$585.2K
Market Conditions
NOI Build-Up for 2,820 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
$84.6K $30.00/SF
− Vacancy
−$14.4K −$5.10/SF
EGI
$70.2K $24.90/SF
− OpEx
−$17.6K −$6.23/SF
NOI
$52.7K $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%
$1,053,280
Cap Rate 7%
$752,343
Cap Rate 9%
$585,156
Alternative Uses
Best Use
Office B
$752.3K
$658.3K – $877.7K
NOI $52,664 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$908.4K
$794.9K – $1.06M
NOI $63,589 @ 7.0% cap · market cap 4.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
10
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,681
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?
Office building - Freestanding Class A office with ten private offices, conference room, reception, informal meeting space, and ample on-site parking.
Where is this office building located?
The property is located at 1017 E South St Orlando, FL.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Freestanding 2,820 SF Class A office building on a 0.35‑acre site in the Thornton Park/Lawsona‑Fern Creek submarket; Built in 1926, expanded in 1985, with extensive renovations completed in 2017; Efficient interior layout with 10 private offices plus reception, a large conference room, informal meeting space, and support area
