Prime Orlando Retail Investment
For Sale
$15,000,000
5510 W Colonial Drive, Orlando, FL 32808
High-traffic retail center in Central Florida with long-term tenants.
Property Size40,787 SF
Price / SF$367.76
Days on Market618
Property Features for 5510 W Colonial Drive
General Information
Standard status
Active
Size
40,787 SF
Property subtype
Commercial
Building Details
Year Built
1978
Listing Agency:
AFFINITY REALTY LLC
Listed By:
Matthew Fong · License #3514998
(321) 274-3287
Source:
Realtygroupfl
Added: Dec 31, 2024
Changed: Sep 10
Last Checked: Sep 10 at 6:46AM
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 AFFINITY REALTY LLC
Investment Insights
Based on property information with market context.
Mandarin Plaza, located at 5510 W Colonial Drive, Orlando, FL 32808, presents an investment opportunity in Central Florida. The property features frontage on State Road 50 (W Colonial Drive), a heavily traveled commercial corridor. Positioned off the SR 408 exit, it allows access to Downtown Orlando and the Central Florida region. Mandarin Plaza is adjacent to Chinatown Orlando, near H Mart and Lotte Plaza Market. This retail center offers opportunities for owner-users and value-add investors. The plaza benefits from traffic counts, signage exposure, and a mix of tenants, including two non-owner occupants who have operated in the center for over 20 years. The property size is 37291 square feet.
Key Highlights
- Prominent frontage on W Colonial Drive (State Road 50), a high‑traffic commercial corridor.
- Strategic location just off SR 408 exit, providing easy access to Downtown Orlando and Central Florida.
- Located adjacent to Chinatown Orlando and near H Mart and Lotte Plaza Market, attracting significant traffic.
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
$800,928
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
5.34%
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%
$16,018,560
$16.0M
Cap Rate 7%
$11,441,829
$11.4M
Cap Rate 9%
$8,899,200
$8.9M
Market Conditions
NOI Build-Up for 40,787 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
$1.18M $29.04/SF
− Vacancy
−$40.3K −$0.99/SF
EGI
$1.14M $28.05/SF
− OpEx
−$343.3K −$8.42/SF
NOI
$800.9K $19.64/SF
Area
Orlando, 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%
$16,018,560
Cap Rate 7%
$11,441,829
Cap Rate 9%
$8,899,200
Alternative Uses
Best Use
Retail
$11.44M
$10.01M – $13.35M
NOI $800,928 @ 7.0% cap · market cap 5.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.14M
$11.50M – $15.33M
NOI $919,724 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,187
Businesses Nearby
151k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Dining 31%
Groceries 7%
Apparel 2%
dd's DISCOUNTS
Shops & Services
27,173 visits/mo
0.0 miles
Popeyes Louisiana Kitchen
Dining
15,726 visits/mo
0.2 miles
Wendy's
Dining
13,587 visits/mo
0.3 miles
Chase Bank
Shops & Services
12,741 visits/mo
0.4 miles
Dunkin' Donuts
Dining
11,897 visits/mo
0.1 miles
Demographics for 32808, FL
52,551
Population
21,291
Households
2.5
Avg Household Size
34
Median Age
12%
College-Educated
78%
High-School Grad
11.9 sq mi
ZIP Area
4,416
Density / Sq Mi
$47,575
Median Household Income
$31,180
Median Earnings
$1,375
Median Rent
$218,600
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 Orlando, FL
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Similar Off Market Nearby
- The Pines Shopping Center — Orlando, FL 32835
- Westside Plaza — 6210 W Colonial Dr Suite # 200, Orlando, FL 32808
- Colonial Corners Shopping Center — 5600 W Colonial Dr, Orlando, FL 32808
- Mandarin Plaza — 5510 W Colonial Dr, Orlando, FL 32808
- Orlando Chinatown — 5060 W Colonial Dr, Orlando, FL 32808
Frequently Asked Questions
What type of property is this?
Shopping center - High-traffic retail center in Central Florida with long-term tenants.
Where is this shopping center located?
The property is located at 5510 W Colonial Drive Orlando, FL.
What is the asking price?
The asking price for this property is $15,000,000.
What are key features of this property?
This property features: Prominent frontage on W Colonial Drive (State Road 50), a high‑traffic commercial corridor.; Strategic location just off SR 408 exit, providing easy access to Downtown Orlando and Central Florida.; Located adjacent to Chinatown Orlando and near H Mart and Lotte Plaza Market, attracting significant traffic.
