Two-Suite Office
For Sale
$250,000
104-111 Jewel Dr, Altamonte Springs, FL 32714
Separate entrances and private bathrooms support independent occupancy or a shared owner-user setup.
Property Size1,392 SF
Price / SF$179.60
Days on Market8
Property Features for 104-111 Jewel Dr
General Information
Standard status
Active
Size
1,392 SF
Additional Details
Office Units
2
Taxes and HOA fees
Annual Taxes
$2,929
Amenities
private yard
Listing Agency:
REALTY U.S.A., INC.
(407) 599-5000
Listed By:
John LeMieux
(305) 607-7886
Source:
Exprealty
Added: Sep 10
Changed: Sep 15
Last Checked: Sep 17 at 12:51AM
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 REALTY U.S.A., INC.
Investment Insights
Based on property information with market context.
This office condominium includes two distinct suites within a four-suite mixed-use commercial building. Each suite has its own entrance and private bathroom, allowing the spaces to function independently or accommodate an owner-user with additional room for business operations or leasing. The configuration also supports a professional office environment with separation between occupants.
A large private yard adds outdoor space uncommon for an office condominium and may support uses such as storage, parking, or a landscaped business setting. The property is located at 104-111 Jewel Dr in Altamonte Springs, near restaurants, shopping, major roadways, and everyday amenities. Its access to surrounding services provides a practical setting for businesses serving clients and employees.
A large private yard adds outdoor space uncommon for an office condominium and may support uses such as storage, parking, or a landscaped business setting. The property is located at 104-111 Jewel Dr in Altamonte Springs, near restaurants, shopping, major roadways, and everyday amenities. Its access to surrounding services provides a practical setting for businesses serving clients and employees.
Key Highlights
- Two office suites within a four‑suite mixed‑use commercial building
- Each suite includes a separate entrance and private bathroom
- Large private yard with potential for outdoor use, parking, or storage
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
$20,796
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
8.32%
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%
$415,920
$415.9K
Cap Rate 7%
$297,086
$297.1K
Cap Rate 9%
$231,067
$231.1K
Market Conditions
NOI Build-Up for 1,392 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
$33.4K $24.00/SF
− Vacancy
−$5.7K −$4.08/SF
EGI
$27.7K $19.92/SF
− OpEx
−$6.9K −$4.98/SF
NOI
$20.8K $14.94/SF
Area
Seminole County, FL
Vacancy
17.00%
Lease Rate
$24.00 /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%
$415,920
Cap Rate 7%
$297,086
Cap Rate 9%
$231,067
Alternative Uses
Best Use
Office B
$297.1K
$260.0K – $346.6K
NOI $20,796 @ 7.0% cap · market cap 8.32%
Second Best
Mixed Use
$262.5K
$229.7K – $306.2K
NOI $18,374 @ 7.0% cap · market cap 7.35%
Theoretical Best
Office A
$396.1K
$346.6K – $462.2K
NOI $27,729 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
1,000
Businesses Nearby
Explore this area
Business Placement
Demographics for 32714, FL
38,049
Population
16,722
Households
2.3
Avg Household Size
37
Median Age
37%
College-Educated
92%
High-School Grad
8.5 sq mi
ZIP Area
4,476
Density / Sq Mi
$67,333
Median Household Income
$39,714
Median Earnings
$1,641
Median Rent
$292,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Separate entrances and private bathrooms support independent occupancy or a shared owner-user setup.
Where is this office units located?
The property is located at 104-111 Jewel Dr Altamonte Springs, FL.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two office suites within a four‑suite mixed‑use commercial building; Each suite includes a separate entrance and private bathroom; Large private yard with potential for outdoor use, parking, or storage
