Colonial-Style Medical Office
For Sale
$2,750,000
326 N Mills Avenue ORLANDO, Orlando, FL 32803
Red brick office building with multiple reception areas, private offices, open workstations, and skylights.
Property Size6,836 SF
Price / SF$410.08
Days on Market45
Property Features for 326 N Mills Avenue ORLANDO
General Information
Standard status
Active
Size
6,836 SF
Zoning
O-1/T
Taxes and HOA fees
Annual Taxes
$112,826
Amenities
Carpet,Laminate
true
1
Blinds
Public Records
Mature Landscaping,Trees
Corner Lot,City Lot,Landscaped,Street Lights
Public
1.2853
1.29
false
Paved
Other
Street Lights,Street Paved,Access Road,Business District
6836
Public Maintained Road
Building Details
Building Size
6,836 SF
Year Built
1993
Buildings
1
Stories
1
Listing Agency:
The Real Estate Collection LLC
(407) 656-7814
Listed By:
Julie Sanchez · License #SL3533505
(407) 656-7814
Source:
Therealestatecollection
Added: Jul 7
Changed: Aug 11
Last Checked: Aug 20 at 4:19AM
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 The Real Estate Collection LLC
Investment Insights
Based on property information with market context.
326 N Mills Avenue is a colonial-style red brick office building with dormer windows and a full, polished interior layout designed for professional and medical-related operations. The space includes two reception areas, seven private offices, multiple open workstations, skylights, a full-service kitchen, a stylish business conference room, an electrical and computer monitor room, and two file rooms. There are four restrooms. A new roof is scheduled for March 2026.
The property sits adjacent to an Advent Health Pulmonary Medical facility and has 80 feet of frontage to North Mills Avenue. The building’s exterior presentation is emphasized by its red brick design and curb appeal features, supporting an office user that benefits from a maintained, business-appropriate appearance.
For tenants, the combination of reception space, private offices, conference room, and open workstations supports a range of appointment-based and team-based workflows. For buyers, the building offers a self-contained office environment with substantial functional improvements already in place, and the listing also notes an option to lease the property on a triple net basis for five years, with a minimum of three years at $16,000 per month.
The property sits adjacent to an Advent Health Pulmonary Medical facility and has 80 feet of frontage to North Mills Avenue. The building’s exterior presentation is emphasized by its red brick design and curb appeal features, supporting an office user that benefits from a maintained, business-appropriate appearance.
For tenants, the combination of reception space, private offices, conference room, and open workstations supports a range of appointment-based and team-based workflows. For buyers, the building offers a self-contained office environment with substantial functional improvements already in place, and the listing also notes an option to lease the property on a triple net basis for five years, with a minimum of three years at $16,000 per month.
Key Highlights
- Single‑story red brick office building built in 1993, totaling 6,836 SF
- 80 ft frontage on N Mills Avenue and corner lot with paved, public maintained access
- Layout includes 2 reception areas, 7 private offices, multiple open workstations, and a business conference room
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
$125,235
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
4.55%
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%
$2,504,700
$2.5M
Cap Rate 7%
$1,789,071
$1.8M
Cap Rate 9%
$1,391,500
$1.4M
Market Conditions
NOI Build-Up for 6,706 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
$201.2K $30.00/SF
− Vacancy
−$34.2K −$5.10/SF
EGI
$167.0K $24.90/SF
− OpEx
−$41.7K −$6.23/SF
NOI
$125.2K $18.67/SF
Area
Orlando, FL
Vacancy
17.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,504,700
Cap Rate 7%
$1,789,071
Cap Rate 9%
$1,391,500
Alternative Uses
Best Use
Office B
$1.79M
$1.57M – $2.09M
NOI $125,235 @ 7.0% cap · market cap 4.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $151,217 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,913
Businesses Nearby
Explore this area
Business Placement
Demographics for 32803, FL
21,003
Population
12,225
Households
1.7
Avg Household Size
38
Median Age
59%
College-Educated
96%
High-School Grad
6.8 sq mi
ZIP Area
3,089
Density / Sq Mi
$101,401
Median Household Income
$61,439
Median Earnings
$1,823
Median Rent
$421,300
Median Home Value
Market
Vacancy Rate% for Office in Orlando, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Red brick office building with multiple reception areas, private offices, open workstations, and skylights.
Where is this office building located?
The property is located at 326 N Mills Avenue ORLANDO Orlando, FL.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Single‑story red brick office building built in 1993, totaling 6,836 SF; 80 ft frontage on N Mills Avenue and corner lot with paved, public maintained access; Layout includes 2 reception areas, 7 private offices, multiple open workstations, and a business conference room
