Apopka Corner Lot Investment
For Sale
$249,000
Pending
205 S HIGHLAND Ave, Apopka, FL 32703
Centrally located MU-D zoned building with multiple uses.
Property Size920 SF
Lot Size0.23 Acres
Days on Market173
Property Features for 205 S HIGHLAND Ave
General Information
Standard status
Pending
Size
920 SF
Lot size
0.23 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$1,333
Building Details
Building Size
920 SF
Year Built
1952
Stories
1
Listing Agency:
NESTA REAL ESTATE CONSULTANTS
(407) 619-6344
Listed By:
Nick Nesta, III · License #3220117
(407) 619-6344
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Jul 23 at 10:26AM
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 NESTA REAL ESTATE CONSULTANTS
Investment Insights
Based on property information with market context.
This exceptional investment opportunity features a centrally located building on a corner lot. Zoned MU-D, the property allows for multiple uses. It includes a two-stall detached garage/storage building with 480 square feet, situated on a 0.23-acre lot. The location is within the City of Apopka's downtown corridor, offering proximity to transportation and high traffic volume with consistent visibility. It is also close to the West Orange Trail. The 920-square-foot building is currently used as a hair salon and features a flexible floor plan and one bathroom. Other permitted uses include childcare facilities, breweries, restaurants, offices, self-service laundries, grocery stores, bakeries, mobile food vendors, veterinary hospitals, and schools. The property can be combined with the adjacent 0.15-acre vacant lot to the east at 314 Monroe Avenue in Apopka, creating a combined lot of 0.38 acres. This presents an incredible opportunity in a high-growth area.
Key Highlights
- Prime corner lot location in Apopka's downtown corridor with high visibility and traffic volume.
- MU‑D zoning allows for multiple uses including retail, restaurant, office, and more.
- Flexible 920 sqft floor plan currently used as a hair salon.
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
$18,066
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
7.26%
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%
$361,320
$361.3K
Cap Rate 7%
$258,086
$258.1K
Cap Rate 9%
$200,733
$200.7K
Market Conditions
NOI Build-Up for 920 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
$26.7K $29.04/SF
− Vacancy
−$908 −$0.99/SF
EGI
$25.8K $28.05/SF
− OpEx
−$7.7K −$8.42/SF
NOI
$18.1K $19.64/SF
Area
Orange County, FL
Vacancy
3.40%
Lease Rate
$29.04 /SF/Yr
Expense Ratio
30.00%
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%
$361,320
Cap Rate 7%
$258,086
Cap Rate 9%
$200,733
Alternative Uses
Best Use
Retail
$258.1K
$225.8K – $301.1K
NOI $18,066 @ 7.0% cap · market cap 7.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$261.8K
$229.1K – $305.4K
NOI $18,326 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,028
Businesses Nearby
210k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 61%
Groceries 17%
Shops & Services 17%
Home Improvements & Furnishings 3%
Winn-Dixie
Groceries
34,701 visits/mo
0.3 miles
McDonald's
Dining
28,806 visits/mo
0.2 miles
Miller's Ale House
Dining
19,442 visits/mo
0.2 miles
Wendy's
Dining
11,431 visits/mo
0.3 miles
KFC
Dining
10,826 visits/mo
0.1 miles
Demographics for 32703, FL
54,805
Population
22,033
Households
2.5
Avg Household Size
37
Median Age
29%
College-Educated
87%
High-School Grad
32.1 sq mi
ZIP Area
1,707
Density / Sq Mi
$70,338
Median Household Income
$42,031
Median Earnings
$1,579
Median Rent
$314,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Centrally located MU-D zoned building with multiple uses.
Where is this retail space located?
The property is located at 205 S HIGHLAND Ave Apopka, FL.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Prime corner lot location in Apopka's downtown corridor with high visibility and traffic volume.; MU‑D zoning allows for multiple uses including retail, restaurant, office, and more.; Flexible 920 sqft floor plan currently used as a hair salon.
