Two-Unit Office Investment
121 S Orange Ave 1450N & 1470N Orlando, FL 32801
121 S Orange Ave 1450N & 1470N, Orlando, FL, 32801
$1,549,000
For Sale
$1,549,000
Two leased office units in the Plaza Building’s North Tower, offering established space with balconies and conference rooms.
Property Size6,401 SF
Price / SF$241.99
Days on Market33
Property Features for 121 S Orange Ave 1450N & 1470N
General Information
- Standard status
- Active
- Size
- 6,401 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2007
Listing agency
RE/MAX Direct
(754) 368-0783
Listed by
Carlos A. Caicedo · License #3097908
(754) 368-0783
Source
Elliman
Added: Jun 20 Updated: Jul 6 at 2:57PM Checked: Jul 22 at 10:03AM
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 RE/MAX Direct
Investment Insights
Based on property information with market context.
This offering includes two income-producing office units within the Plaza Building – North Tower. Unit 1450N totals 4,538 sq. ft. and is a corner configuration with a balcony overlooking Orange Ave. The space features an open layout, conference rooms, private offices, and a kitchen and breakroom. Unit 1470N totals 1,683 sq. ft. and has a double-door entry, new paint, and wood laminate floors. It includes a reception area, private offices, a breakroom, and conference rooms with floor-to-ceiling windows.
Both units are leased through 2026–2027. Unit 1450N is leased until March 31, 2027, and Unit 1470N is leased until October 31, 2026. The North Tower setting provides office views into downtown Orlando, including sightlines tied to Lake Eola.
For buyers or operators seeking an office asset with two separate leased spaces and defined interiors, this property offers multiple room types that can support a range of professional office needs, including meeting-focused users. BikeScore, walkScore, and transitScore figures indicate a workable downtown environment for non-driving access, and the sale is presented with a stated 6% cap rate and NOI of $92,377.34.
Both units are leased through 2026–2027. Unit 1450N is leased until March 31, 2027, and Unit 1470N is leased until October 31, 2026. The North Tower setting provides office views into downtown Orlando, including sightlines tied to Lake Eola.
For buyers or operators seeking an office asset with two separate leased spaces and defined interiors, this property offers multiple room types that can support a range of professional office needs, including meeting-focused users. BikeScore, walkScore, and transitScore figures indicate a workable downtown environment for non-driving access, and the sale is presented with a stated 6% cap rate and NOI of $92,377.34.
Key Highlights
- 2007‑built Plaza Building North Tower in downtown Orlando, offering two leased office units totaling 6,401 sq. ft.
- Unit 1450N: 4,538 sq. ft. corner office with balcony overlooking Orange Ave; open layout plus conference rooms, private offices, kitchen and breakroom; leased through Mar 31, 2027.
- Unit 1470N: 1,683 sq. ft. office with double‑door entry; private offices, reception area, breakroom, and conference rooms with floor‑to‑ceiling windows; leased through Oct 31, 2026.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $192.0k | $30.00 |
| − Vacancy | −$32.6k | −$5.10 |
| EGI | $159.4k | $24.90 |
| − OpEx | −$39.8k | −$6.23 |
| NOI | $119.5k | $18.67 |
6,401 SF · lease $30.00/SF/yr · vacancy 17.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.71M
$1.49M – $1.99M
NOI $119,539 @ 7.0% cap · market cap 7.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.06M
$1.80M – $2.41M
NOI $144,339 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Noble
Factory
Daniel F Dill ...
Law Firm
Florida IT Pro
(Bike/Boat/Book/etc) Store
Exchange Defender
(Bike/Boat/Book/etc) Store
ScoutPro
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Two leased office units in the Plaza Building’s North Tower, offering established space with balconies and conference rooms.
Where is this office units located?
The property is located at 121 S Orange Ave 1450N & 1470N Orlando, FL.
What is the asking price?
The asking price for this property is $1,549,000.
What are key features of this property?
This property features: 2007‑built Plaza Building North Tower in downtown Orlando, offering two leased office units totaling 6,401 sq. ft.; Unit 1450N: 4,538 sq. ft. corner office with balcony overlooking Orange Ave; open layout plus conference rooms, private offices, kitchen and breakroom; leased through Mar 31, 2027.; Unit 1470N: 1,683 sq. ft. office with double‑door entry; private offices, reception area, breakroom, and conference rooms with floor‑to‑ceiling windows; leased through Oct 31, 2026.
