Orlando Mixed-Use Development
For Sale
$2,100,000
Pending
222 N PARRAMORE AVENUE, Orlando, FL 32801
1.40-acre mixed-use portfolio in Downtown Orlando's Innovation District.
Property Size11,376 SF
Lot Size0.36 Acres
Days on Market1210
Property Features for 222 N PARRAMORE AVENUE
General Information
Standard status
Pending
Size
11,376 SF
Lot size
0.36 Acres
Property subtype
Land or Vacant Lot
Taxes and HOA fees
Annual Taxes
$1,025
Amenities
Pool
Public Pool
Listing Agency:
ALPHA R.E. OF CENTRAL FL LLC
(407) 927-1040
Listed By:
ORLANDO MONTERO · License #BK3294461
Source:
Corcoran
Added: Apr 19, 2023
Changed: Aug 8
Last Checked: Aug 8 at 5:31AM
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 ALPHA R.E. OF CENTRAL FL LLC
Investment Insights
Based on property information with market context.
This diversified 1.40-acre portfolio comprises 11 parcels located within the Innovation District of Downtown Orlando. The properties are within walking distance of Creative Village, Orlando City Soccer Exploria Stadium, and Amway Center. The portfolio includes a 10,902 square foot building at 716 W Robinson St, zoned MU-1/T/PH R2B/T/PH, with a total of 11,376 square feet. Additionally, there are three adjacent vacant land parcels at 726 W. Robinson St, 732 W. Robinson St, and 217 Garden Ave, zoned R2B/T/PH, totaling 26,360 square feet when combined with 716 W Robinson St, allowing for a total of four single-family units. Four adjacent vacant land parcels at 222 N Parramore Ave, 214 N Parramore Ave, 211 McQuigg Ave, and 215 McQuigg Ave, zoned MU-1/T/PH R2B/T/PH, total 26,136 square feet and can accommodate up to 16 units. These parcels are directly across the street from 716 W Robinson St and the three other adjacent vacant land parcels. The portfolio also includes a one-story duplex at 209 Garden Ave, zoned R2B/T/PH, totaling 3,596 square feet, a vacant land parcel at 202 McQuigg Ave, zoned R2B/T/PH, totaling 3,596 square feet, and a vacant land parcel at 824 W. Robinson St, zoned R2B/T/PH, totaling 3,596 square feet. MU-1/T/PH zoning allows for medium-intensity mixed residential and office use with a maximum height of 35 feet. R2B/T/PH zoning permits single-family homes, duplexes, small apartment buildings of 3-5 units, garage apartments, and accessory apartments with a maximum height of 30 feet. The portfolio is located within the U.S. Department of Treasury’s Community Development Financial Institutions Fund designated area, qualifying for the Bank Enterprise Award, Capital Magnet Fund, and the Equitable Recovery programs.
Key Highlights
- 1.40‑acre mixed‑use portfolio in Downtown Orlando's Innovation District.
- Located within a U.S. Department of Treasury Community Development Financial Institutions Fund designated area.
- Walking distance to Creative Village, Orlando City Soccer Exploria Stadium, and Amway Center.
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
$161,392
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
7.69%
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%
$3,227,840
$3.2M
Cap Rate 7%
$2,305,600
$2.3M
Cap Rate 9%
$1,793,244
$1.8M
Market Conditions
NOI Build-Up for 11,376 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
$245.7K $21.60/SF
− Vacancy
−$15.2K −$1.33/SF
EGI
$230.6K $20.27/SF
− OpEx
−$69.2K −$6.08/SF
NOI
$161.4K $14.19/SF
Area
Orlando, FL
Vacancy
6.17%
Lease Rate
$21.60 /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%
$3,227,840
Cap Rate 7%
$2,305,600
Cap Rate 9%
$1,793,244
Alternative Uses
Best Use
Multifamily LT 5
$2.31M
$2.02M – $2.69M
NOI $161,392 @ 7.0% cap · market cap 7.69%
Second Best
Mixed Use
$2.15M
$1.88M – $2.50M
NOI $150,163 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$3.66M
$3.21M – $4.28M
NOI $256,522 @ 7.0% cap · market cap 12.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,843
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 1.40-acre mixed-use portfolio in Downtown Orlando's Innovation District.
Where is this mixed-use property located?
The property is located at 222 N PARRAMORE AVENUE Orlando, FL.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 1.40‑acre mixed‑use portfolio in Downtown Orlando's Innovation District.; Located within a U.S. Department of Treasury Community Development Financial Institutions Fund designated area.; Walking distance to Creative Village, Orlando City Soccer Exploria Stadium, and Amway Center.
