Leased Office Units with
For Sale
$1,549,000
121 S Orange Avenue Unit 1450N & 1470N, Orlando, FL 32801
Two occupied suites combine distinct layouts, private offices, conference areas, breakrooms, and downtown views.
Property Size6,401 SF
Price / SF$241.99
Days on Market566
Property Features for 121 S Orange Avenue Unit 1450N & 1470N
General Information
Standard status
Active
Size
6,401 SF
Property subtype
Commercial
Net Operating Income
$92,377
Additional Details
Cap Rate
6%
Office Units
2
Building Details
Year Built
2007
Buildings
1
Tenancy
Multi
Listing Agency:
RE/MAX Direct
Listed By:
Carlos A. Caicedo
(239) 471-4740
Source:
Cthomeseekers
Added: Feb 10, 2025
Changed: Aug 25
Last Checked: Aug 29 at 10:54AM
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 RE/MAX Direct
Investment Insights
Based on property information with market context.
The offering comprises two leased office units in Plaza Building’s North Tower, totaling 6,401 square feet. Unit 1450N contains 4,538 square feet and provides a corner configuration with a balcony facing Orange Avenue, an open work area, conference rooms, private offices, a kitchen, and a breakroom. Unit 1470N measures 1,683 square feet and includes a double-door entrance, recently applied paint, wood laminate flooring, reception space, private offices, a breakroom, and conference rooms with floor-to-ceiling windows.
Both suites are occupied under existing leases. The lease for Unit 1450N extends through March 31, 2027, while Unit 1470N is leased through October 31, 2026. The property is located at 121 S Orange Avenue in downtown Orlando and was built in 2007. The stated cap rate is 6%.
Both suites are occupied under existing leases. The lease for Unit 1450N extends through March 31, 2027, while Unit 1470N is leased through October 31, 2026. The property is located at 121 S Orange Avenue in downtown Orlando and was built in 2007. The stated cap rate is 6%.
Key Highlights
- Two leased office units totaling 6,401 sq. ft.
- Unit 1450N: 4,538 sq. ft. with balcony and corner layout
- Unit 1470N: 1,683 sq. ft. with double‑door entry and wood laminate floors
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
$119,539
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
7.72%
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%
$2,390,780
$2.4M
Cap Rate 7%
$1,707,700
$1.7M
Cap Rate 9%
$1,328,211
$1.3M
Market Conditions
NOI Build-Up for 6,401 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
$192.0K $30.00/SF
− Vacancy
−$32.6K −$5.10/SF
EGI
$159.4K $24.90/SF
− OpEx
−$39.8K −$6.23/SF
NOI
$119.5K $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%
$2,390,780
Cap Rate 7%
$1,707,700
Cap Rate 9%
$1,328,211
Alternative Uses
Best Use
Office B
$1.71M
$1.49M – $1.99M
NOI $119,539 @ 7.0% cap · market cap 7.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.06M
$1.80M – $2.41M
NOI $144,339 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
8,933
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 units - Two occupied suites combine distinct layouts, private offices, conference areas, breakrooms, and downtown views.
Where is this office units located?
The property is located at 121 S Orange Avenue Unit 1450N & 1470N Orlando, FL.
What is the asking price?
The asking price for this property is $1,549,000.
What are key features of this property?
This property features: Two leased office units totaling 6,401 sq. ft.; Unit 1450N: 4,538 sq. ft. with balcony and corner layout; Unit 1470N: 1,683 sq. ft. with double‑door entry and wood laminate floors
