Furnished 3-Bedroom Condominium
For Sale
$273,999
8774 WORLDQUEST Blvd 7204, Orlando, FL 32821
Furnished, single-level 3-bedroom condo with covered balcony water view and access to pool and clubhouse amenities.
Property Size1,459 SF
Days on Market92
Property Features for 8774 WORLDQUEST Blvd 7204
General Information
Standard status
Active
Size
1,459 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,917
Building Details
Building Size
1,459 SF
Year Built
2008
Stories
1
Listing Agency:
Orlando Central Realty LLC DBA Keller Williams Realty at the Parks
Listed By:
Thomas Nickley, Jr · License #3275393
(407) 629-4420
Source:
Elliman
Added: Jun 4
Changed: Sep 2
Last Checked: Sep 1 at 9:51PM
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 Orlando Central Realty LLC DBA Keller Williams Realty at the Parks
Investment Insights
Based on property information with market context.
This fully furnished condominium offers a spacious, single-level layout with three bedrooms and two bathrooms. The open-concept design connects the living, dining, and kitchen areas, with natural light filling the main living space. Sliding glass doors lead to a private covered balcony with a water view. The kitchen includes ample cabinetry, generous counter space, and a breakfast bar for additional seating. The primary suite is positioned for privacy and features an en-suite bathroom and ample closet space, while the two additional bedrooms are near the front of the condo and share a full bathroom.
Located within a resort-style community just minutes from Orlando’s premier destinations, the home places attractions, shopping, dining, entertainment, and major roadways within easy reach. Residents and guests can access on-site amenities, including a pool, clubhouse, and on-site dining options.
As a turnkey option, this property is suited for buyers looking for a low-maintenance, ready-to-use vacation rental setup or a residential second-home environment. The unit is offered fully furnished, and the seller provides a reduced-rate program through a preferred lender that includes a lender-paid interest rate buydown to lower the buyer’s monthly payment.
Located within a resort-style community just minutes from Orlando’s premier destinations, the home places attractions, shopping, dining, entertainment, and major roadways within easy reach. Residents and guests can access on-site amenities, including a pool, clubhouse, and on-site dining options.
As a turnkey option, this property is suited for buyers looking for a low-maintenance, ready-to-use vacation rental setup or a residential second-home environment. The unit is offered fully furnished, and the seller provides a reduced-rate program through a preferred lender that includes a lender-paid interest rate buydown to lower the buyer’s monthly payment.
Key Highlights
- 2008‑built, fully furnished 3‑bedroom, 2‑bath single‑level condominium in a resort‑style community
- Open‑concept living, dining, and kitchen areas with natural light and sliding glass doors to a private covered balcony
- Covered balcony with a water view
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
$18,907
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
6.90%
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%
$378,140
$378.1K
Cap Rate 7%
$270,100
$270.1K
Cap Rate 9%
$210,078
$210.1K
Market Conditions
NOI Build-Up for 1,459 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
$36.8K $25.20/SF
− Vacancy
−$2.4K −$1.64/SF
EGI
$34.4K $23.56/SF
− OpEx
−$15.5K −$10.60/SF
NOI
$18.9K $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%
$378,140
Cap Rate 7%
$270,100
Cap Rate 9%
$210,078
Alternative Uses
Best Use
Apartment 5plus
$270.1K
$236.3K – $315.1K
NOI $18,907 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$470.0K
$411.3K – $548.3K
NOI $32,900 @ 7.0% cap · market cap 12.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
94
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Short term rental property - Furnished, single-level 3-bedroom condo with covered balcony water view and access to pool and clubhouse amenities.
Where is this short term rental property located?
The property is located at 8774 WORLDQUEST Blvd 7204 Orlando, FL.
What is the asking price?
The asking price for this property is $273,999.
What are key features of this property?
This property features: 2008‑built, fully furnished 3‑bedroom, 2‑bath single‑level condominium in a resort‑style community; Open‑concept living, dining, and kitchen areas with natural light and sliding glass doors to a private covered balcony; Covered balcony with a water view
