Resort Condo on International
For Sale
$185,000
12538 FLORIDAYS RESORT Dr 602C, Orlando, FL 32821
Fully furnished 2-bedroom condo in a prime Orlando location.
Property Size957 SF
Price / SF$193.31
Days on Market108
Property Features for 12538 FLORIDAYS RESORT Dr 602C
General Information
Standard status
Active
Size
957 SF
Property subtype
Residential
Taxes and HOA fees
Annual Taxes
$3,398
Building Details
Building Size
957 SF
Year Built
2006
Stories
6
Listing Agency:
(407) 748-2930
Listed By:
Irma Shaffer · License #3430837
(407) 748-2930
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 8 at 6:57AM
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 Irma Shaffer
Investment Insights
Based on property information with market context.
Located on International Drive in Orlando's tourism corridor, this fully furnished condominium at Floridays Resort offers 957 square feet of living space. The 2-bedroom, 2-bath unit features an open-concept layout with a living and dining area, a kitchen with cabinetry and breakfast bar, and a private balcony. The split-bedroom floor plan includes a primary suite with an en-suite bath and a secondary bedroom. Zoned for short-term rental, the property can be used as a vacation retreat and generate rental income. The resort provides two swimming pools, including a tropical lagoon-style main pool and splash area, a spa, poolside bar and grill, clubhouse, fitness center, arcade and game room, café and marketplace, concierge services, business center, and 24/7 front desk. On-site management provides rental demand and convenience. The property is located near Walt Disney World, Universal Orlando Resort, SeaWorld Orlando, the Orange County Convention Center, premium outlets, shopping, dining, and grocery stores. The location has a bike score of 57, indicating it is bikeable, and a walk score of 37, indicating car dependence.
Key Highlights
- Prime location on International Drive, minutes from major attractions.
- Zoned for short‑term rental, offering income potential.
- Fully furnished, 2‑bedroom, 2‑bath condominium in a highly‑rated, full‑service resort community.**
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
$12,402
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
6.70%
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%
$248,040
$248.0K
Cap Rate 7%
$177,171
$177.2K
Cap Rate 9%
$137,800
$137.8K
Market Conditions
NOI Build-Up for 957 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
$24.1K $25.20/SF
− Vacancy
−$1.6K −$1.64/SF
EGI
$22.5K $23.56/SF
− OpEx
−$10.1K −$10.60/SF
NOI
$12.4K $12.96/SF
Area
Orlando, FL
Vacancy
6.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$248,040
Cap Rate 7%
$177,171
Cap Rate 9%
$137,800
Alternative Uses
Best Use
Apartment 5plus
$177.2K
$155.0K – $206.7K
NOI $12,402 @ 7.0% cap · market cap 6.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$308.3K
$269.8K – $359.7K
NOI $21,580 @ 7.0% cap · market cap 11.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
720
Businesses Nearby
Explore this area
Business Placement
Demographics for 32821, FL
25,999
Population
15,061
Households
1.7
Avg Household Size
33
Median Age
44%
College-Educated
95%
High-School Grad
16.3 sq mi
ZIP Area
1,595
Density / Sq Mi
$59,927
Median Household Income
$39,230
Median Earnings
$1,782
Median Rent
$300,300
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?
Short term rental property - Fully furnished 2-bedroom condo in a prime Orlando location.
Where is this short term rental property located?
The property is located at 12538 FLORIDAYS RESORT Dr 602C Orlando, FL.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Prime location on International Drive, minutes from major attractions.; Zoned for short‑term rental, offering income potential.; Fully furnished, 2‑bedroom, 2‑bath condominium in a highly‑rated, full‑service resort community.**
