Mills 50 District Office
For Sale
$1,299,000
802 E COLONIAL DR, Orlando, FL 32803
Mixed-use office building in the Mills 50 District.
Property Size2,379 SF
Price / SF$546.03
Days on Market575
Property Features for 802 E COLONIAL DR
General Information
Standard status
Active
Size
2,379 SF
Property subtype
Office
Site & Location
Neighborhood
Lake Eola Heights
Taxes and HOA fees
Annual Taxes
$14,922
Building Details
Building Size
2,379 SF
Year Built
1925
Listing Agency:
HAPPY HOME REAL ESTATE LLC
Listed By:
Andy Chen · License #3376751
(407) 301-4322
Source:
Novaorlando
Added: Mar 30, 2025
Changed: Oct 23
Last Checked: Oct 24 at 11:21PM
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 HAPPY HOME REAL ESTATE LLC
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Investment Insights
Based on property information with market context.
This commercial mixed-use, free-standing office building has direct frontage on East Colonial Drive (50) and is located within the working boundaries that represent the Mills 50 District. Zoned MU-1/T, the property features 6 individual offices, a dedicated conference room, a reception area, and a kitchenette. There are 9 parking spots at the rear of the property. The building has a size of 2379 square feet. It is conveniently located less than 1 mile from I-4 and 0.2 miles from Mills Ave.
Key Highlights
- Prime location with direct frontage on East Colonial Drive in the Mills 50 District
- Zoned MU‑1/T, allowing for flexible mixed‑use possibilities
- Features 6 individual offices, conference room, reception area, and kitchenette
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,428
Cap Rate
3.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$888,560
$888.6K
Cap Rate 7%
$634,686
$634.7K
Cap Rate 9%
$493,644
$493.6K
Market Conditions
NOI Build-Up for 2,379 SF
Gross rent
$71.4K $30.00/SF
− Vacancy
−$12.1K −$5.10/SF
EGI
$59.2K $24.90/SF
− OpEx
−$14.8K −$6.23/SF
NOI
$44.4K $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 Rate 5%
$888,560
Cap Rate 7%
$634,686
Cap Rate 9%
$493,644
Alternative Uses
Best Use
Office B
$634.7K
$555.4K – $740.5K
NOI $44,428 @ 7.0% cap · market cap 3.42%
Second Best
Mixed Use
$448.6K
$392.5K – $523.4K
NOI $31,403 @ 7.0% cap · market cap 2.42%
Theoretical Best
Office A
$766.4K
$670.6K – $894.1K
NOI $53,645 @ 7.0% cap · market cap 4.13%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,274
Businesses Nearby
Explore this area
Business Placement
Demographics for 32803, FL
21,003
Population
12,225
Households
1.7
Avg Household Size
38
Median Age
59%
College-Educated
96%
High-School Grad
6.8 sq mi
ZIP Area
3,089
Density / Sq Mi
$101,401
Median Household Income
$61,439
Median Earnings
$1,823
Median Rent
$421,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Orlando, FL
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use office building in the Mills 50 District.
Where is this mixed-use property located?
The property is located at 802 E COLONIAL DR Orlando, FL.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Prime location with direct frontage on East Colonial Drive in the Mills 50 District; Zoned MU‑1/T, allowing for flexible mixed‑use possibilities; Features 6 individual offices, conference room, reception area, and kitchenette
