Renovated Office Building with
For Sale
$2,450,000
701 E South Street ORLANDO, Orlando, FL 32801
Renovated multi-floor office building with elevator access, updated restrooms, LED lighting, and reconfigured workspaces.
Property Size10,123 SF
Price / SF$247.03
Days on Market42
Property Features for 701 E South Street ORLANDO
General Information
Standard status
Active
Size
10,123 SF
Zoning
O-1/T/AN
Additional Details
Office Units
2
Taxes and HOA fees
Annual Taxes
$26,587
Amenities
Public Records
true
Public
26954
0.62
Asphalt
Slab
City Street
10123
2
Building Details
Building Size
10,123 SF
Year Built
1986
Buildings
2
Listing Agency:
(904) 569-5862
Listed By:
Anthony Gotham
(904) 569-5862
Source:
Movetojacksonville
Added: Jul 7
Changed: Aug 16
Last Checked: Aug 16 at 3:21AM
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 Anthony Gotham
Investment Insights
Based on property information with market context.
This renovated office building offers a versatile, multi-floor layout designed for efficient operations. The property has been updated with fresh interior and exterior paint, restrooms improvements, and a newly installed security system. Office and conference room areas have been reconfigured, with space including private offices, partitioned rooms, and staff lounge areas. For comfort and efficiency, the building transitioned from fluorescent to LED lighting, and new galvanized steel stairs were added. The property also includes elevator access and multiple stairways to support day-to-day movement throughout the building. Per the listing, the configuration includes conference rooms, private offices, and restrooms on each floor, and it consists of two units that integrate together.
Located at 701 E South Street in Orlando, the building is presented as a potential fit for investors and owner-operators seeking a stabilized asset. The public remarks describe a reliable, long-term governmental tenant. The property is being offered for sale in connection with a 1031 exchange.
For tenants or buyers evaluating an existing office platform, the updated interior finishes, upgraded lighting, and dedicated security features can reduce near-term capital planning. The combination of elevator service, multiple stairways, and a mix of open and partitioned office spaces supports a range of professional uses where both collaboration and private work areas are needed. The integrated two-unit setup can also support flexible occupancy planning within the building’s office-focused layout.
Located at 701 E South Street in Orlando, the building is presented as a potential fit for investors and owner-operators seeking a stabilized asset. The public remarks describe a reliable, long-term governmental tenant. The property is being offered for sale in connection with a 1031 exchange.
For tenants or buyers evaluating an existing office platform, the updated interior finishes, upgraded lighting, and dedicated security features can reduce near-term capital planning. The combination of elevator service, multiple stairways, and a mix of open and partitioned office spaces supports a range of professional uses where both collaboration and private work areas are needed. The integrated two-unit setup can also support flexible occupancy planning within the building’s office-focused layout.
Key Highlights
- Renovated multi‑floor office building with elevator access and multiple stairways
- Approximately 10,123 SF total building area in 2 buildings (1986 build)
- Updated restrooms and fresh interior and exterior paint
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
$185,219
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
7.56%
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%
$3,704,380
$3.7M
Cap Rate 7%
$2,645,986
$2.6M
Cap Rate 9%
$2,057,989
$2.1M
Market Conditions
NOI Build-Up for 9,918 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
$297.5K $30.00/SF
− Vacancy
−$50.6K −$5.10/SF
EGI
$247.0K $24.90/SF
− OpEx
−$61.7K −$6.23/SF
NOI
$185.2K $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%
$3,704,380
Cap Rate 7%
$2,645,986
Cap Rate 9%
$2,057,989
Alternative Uses
Best Use
Office B
$2.65M
$2.32M – $3.09M
NOI $185,219 @ 7.0% cap · market cap 7.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.19M
$2.80M – $3.73M
NOI $223,645 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
2,175
Businesses Nearby
Explore this area
Business Placement
Demographics for 32801, FL
17,728
Population
12,133
Households
1.5
Avg Household Size
36
Median Age
63%
College-Educated
95%
High-School Grad
2.2 sq mi
ZIP Area
8,058
Density / Sq Mi
$77,626
Median Household Income
$63,090
Median Earnings
$1,773
Median Rent
$397,600
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 - Renovated multi-floor office building with elevator access, updated restrooms, LED lighting, and reconfigured workspaces.
Where is this office building located?
The property is located at 701 E South Street ORLANDO Orlando, FL.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: Renovated multi‑floor office building with elevator access and multiple stairways; Approximately 10,123 SF total building area in 2 buildings (1986 build); Updated restrooms and fresh interior and exterior paint
