Income Producing Historic Sanford
For Sale
$1,150,000
106 MAGNOLIA AVENUE, Sanford, FL 32771
Income-producing property in the heart of Sanford's Historic District.
Property Size3,952 SF
Lot Size0.05 Acres
Price / SF$290.99
Days on Market1158
Property Features for 106 MAGNOLIA AVENUE
General Information
Standard status
Active
Size
3,952 SF
Lot size
0.05 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1920
Listing Agency:
JERNIGAN PROPERTIES, INC.
(407) 330-3255
Listed By:
Roland R Jernigan, Jr. · License #641113
(407) 330-3255
Source:
Exitrealty
Added: Jun 6, 2023
Changed: Jul 10
Last Checked: Jul 31 at 1:30PM
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 JERNIGAN PROPERTIES, INC.
Investment Insights
Based on property information with market context.
This income-producing property is situated in the heart of Sanford's Historic District, specifically on Magnolia Square, positioned between 1st Street and 2nd Street. Magnolia Square hosts various events throughout the year, including a Farmer's Market every Saturday. The building, with a size of 3952 square feet, is zoned SC3, which allows for multiple uses. Recent updates include fresh exterior paint, doors, and awning. A new roof was installed in February of 2024. The property has a history of long-term tenants.
Key Highlights
- Income‑producing property in the heart of Sanford's Historic district.
- Located on Magnolia Square, close to events and the Farmer's Market.
- New roof installed in February 2024.
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
$77,605
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
6.75%
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%
$1,552,100
$1.6M
Cap Rate 7%
$1,108,643
$1.1M
Cap Rate 9%
$862,278
$862.3K
Market Conditions
NOI Build-Up for 3,952 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
$114.8K $29.04/SF
− Vacancy
−$3.9K −$0.99/SF
EGI
$110.9K $28.05/SF
− OpEx
−$33.3K −$8.42/SF
NOI
$77.6K $19.64/SF
Area
Seminole County, 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%
$1,552,100
Cap Rate 7%
$1,108,643
Cap Rate 9%
$862,278
Alternative Uses
Best Use
Retail
$1.11M
$970.1K – $1.29M
NOI $77,605 @ 7.0% cap · market cap 6.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$984.1K – $1.31M
NOI $78,724 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,245
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Happy Florist — 1015 W 1st St, Sanford, FL 32771
Frequently Asked Questions
What type of property is this?
Storefront property - Income-producing property in the heart of Sanford's Historic District.
Where is this storefront property located?
The property is located at 106 MAGNOLIA AVENUE Sanford, FL.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Income‑producing property in the heart of Sanford's Historic district.; Located on Magnolia Square, close to events and the Farmer's Market.; New roof installed in February 2024.
