Mixed-Use Building with Private
New
For Sale
$1,500,000
121 E 1st St Unit 101, Sanford, FL 32771
A two-level configuration combines adaptable ground-floor space with a dedicated professional office layout upstairs.
Property Size7,987 SF
Price / SF$187.81
Days on Market3
Property Features for 121 E 1st St Unit 101
General Information
Standard status
Active
Size
7,987 SF
Building Details
Year Built
1920
Listing Agency:
KROLL REALTY GROUP
Listed By:
Holly Kroll · License #3282595
(407) 716-7429
Source:
Livewelltampabay
Added: Sep 30
Last Checked: Oct 1 at 2:43PM
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 KROLL REALTY GROUP
Investment Insights
Based on property information with market context.
This 7,987-square-foot historic mixed-use property, built in 1920, has a flexible ground floor with an open layout, exposed brick, high ceilings, three bathrooms, and a kitchenette. The upper level contains eight private offices, a break room, and a restroom; its street-facing windows have soundproofing. Updates include new first-floor LVP, second-floor carpet, fresh interior paint, and an A/C system installed in 2023.
The property is in downtown Sanford’s First Street business district, among shops, restaurants, and entertainment venues. It is zoned SC3.
The property is in downtown Sanford’s First Street business district, among shops, restaurants, and entertainment venues. It is zoned SC3.
Key Highlights
- 7,987‑square‑foot mixed‑use property built in 1920
- Ground floor features an open layout, exposed brick, three bathrooms, and a kitchenette
- Upper floor includes eight private offices, a break room, and a restroom
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
$105,428
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
7.03%
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%
$2,108,560
$2.1M
Cap Rate 7%
$1,506,114
$1.5M
Cap Rate 9%
$1,171,422
$1.2M
Market Conditions
NOI Build-Up for 7,987 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
$191.7K $24.00/SF
− Vacancy
−$23.0K −$2.88/SF
EGI
$168.7K $21.12/SF
− OpEx
−$63.3K −$7.92/SF
NOI
$105.4K $13.20/SF
Area
Seminole County, FL
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$2,108,560
Cap Rate 7%
$1,506,114
Cap Rate 9%
$1,171,422
Alternative Uses
Best Use
Retail
$2.24M
$1.96M – $2.61M
NOI $156,840 @ 7.0% cap · market cap 10.46%
Second Best
Mixed Use
$1.51M
$1.32M – $1.76M
NOI $105,428 @ 7.0% cap · market cap 7.03%
Theoretical Best
Office A
$2.27M
$1.99M – $2.65M
NOI $159,101 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,215
Businesses Nearby
Explore this area
Business Placement
Demographics for 32771, FL
57,178
Population
24,062
Households
2.4
Avg Household Size
37
Median Age
35%
College-Educated
91%
High-School Grad
37.5 sq mi
ZIP Area
1,525
Density / Sq Mi
$74,520
Median Household Income
$43,321
Median Earnings
$1,584
Median Rent
$332,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Mixed-use property - A two-level configuration combines adaptable ground-floor space with a dedicated professional office layout upstairs.
Where is this mixed-use property located?
The property is located at 121 E 1st St Unit 101 Sanford, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 7,987‑square‑foot mixed‑use property built in 1920; Ground floor features an open layout, exposed brick, three bathrooms, and a kitchenette; Upper floor includes eight private offices, a break room, and a restroom
