Freestanding Office
For Sale
Contact for pricing
112 West Citrus Street, Altamonte Springs, FL 32714
Built-out layout includes private offices, open work areas, and a kitchen-equipped break room.
Property Size2,600 SF
Price / SF$211.54
Days on Market120
Property Features for 112 West Citrus Street
General Information
Standard status
Active
Size
2,600 SF
Total Parking Spaces
39
Property subtype
Office
Investment Type
Owner/User
Building Details
Units
1
Listing Agency:
Palkiper Commercial Real Estate Services
(407) 383-8142
Listed By:
Marie Shorey, CCIM · License #BK3118624
Source:
Crexi
Added: May 4
Changed: Aug 30
Last Checked: Aug 30 at 8:47AM
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 Palkiper Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This freestanding office property at 112 West Citrus Street in Altamonte Springs offers approximately 2,600 SF of existing build-out. The interior includes a reception area, five private offices, open work areas, a break room with kitchen, and two restrooms.
The property also includes 39 shared parking spaces, supporting day-to-day office operations and visitor access. Its existing configuration provides a practical combination of enclosed offices, collaborative workspace, staff amenities, and reception functions within a standalone commercial building.
The property also includes 39 shared parking spaces, supporting day-to-day office operations and visitor access. Its existing configuration provides a practical combination of enclosed offices, collaborative workspace, staff amenities, and reception functions within a standalone commercial building.
Key Highlights
- Approximately 2,600 SF of freestanding office space
- Five private offices plus open work areas
- Reception area supports visitor and client arrival
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
$38,844
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
7.06%
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%
$776,880
$776.9K
Cap Rate 7%
$554,914
$554.9K
Cap Rate 9%
$431,600
$431.6K
Market Conditions
NOI Build-Up for 2,600 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
$62.4K $24.00/SF
− Vacancy
−$10.6K −$4.08/SF
EGI
$51.8K $19.92/SF
− OpEx
−$12.9K −$4.98/SF
NOI
$38.8K $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%
$776,880
Cap Rate 7%
$554,914
Cap Rate 9%
$431,600
Alternative Uses
Best Use
Office B
$554.9K
$485.6K – $647.4K
NOI $38,844 @ 7.0% cap · market cap 7.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$739.9K
$647.4K – $863.2K
NOI $51,792 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,404
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 building - Built-out layout includes private offices, open work areas, and a kitchen-equipped break room.
Where is this office building located?
The property is located at 112 West Citrus Street Altamonte Springs, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Approximately 2,600 SF of freestanding office space; Five private offices plus open work areas; Reception area supports visitor and client arrival
