Downtown Redevelopment Office
For Sale
$6,500,000
135 N Magnolia Ave, Orlando, FL 32801
Redevelopment opportunity in downtown Orlando with potential to reach up to 200 feet in height, per city.
Property Size24,038 SF
Days on Market115
Property Features for 135 N Magnolia Ave
General Information
Standard status
Active
Size
24,038 SF
Class
C
Property subtype
Office/Redevelopment
Building Details
Building Size
24,038 SF
Year Built
1922
Listing Agency:
LQ Commercial Real Estate Services Orlando
Listed By:
Julia Sosa · License #519415
(407) 257-8246
Source:
Lqcre
Added: May 12
Changed: Sep 3
Last Checked: Sep 2 at 2:11PM
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 LQ Commercial Real Estate Services Orlando
Investment Insights
Based on property information with market context.
This downtown office property is being offered as a redevelopment opportunity in the heart of Orlando. The site has potential, per city, to be developed to heights up to 200 feet.
The property is described as walkable to Lake Eola, the Regional History Center, and the Public Library. It is also positioned within a short distance of major downtown attractions, including the Kia Center, Dr. Phillips Center for Performing Arts, Bob Carr Theater, and Inter & Co. Stadium.
Ideal for buyers evaluating redevelopment concepts in a high-visibility downtown setting, the offering centers on the site’s redevelopment flexibility and the stated height potential.
The property is described as walkable to Lake Eola, the Regional History Center, and the Public Library. It is also positioned within a short distance of major downtown attractions, including the Kia Center, Dr. Phillips Center for Performing Arts, Bob Carr Theater, and Inter & Co. Stadium.
Ideal for buyers evaluating redevelopment concepts in a high-visibility downtown setting, the offering centers on the site’s redevelopment flexibility and the stated height potential.
Key Highlights
- Redevelopment opportunity in the heart of downtown Orlando
- Potential to reach up to 200 ft in height, per city
- Walking distance to Lake Eola, Regional History Center & Public Library
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
$448,910
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
6.91%
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%
$8,978,200
$9.0M
Cap Rate 7%
$6,413,000
$6.4M
Cap Rate 9%
$4,987,889
$5.0M
Market Conditions
NOI Build-Up for 24,038 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
$721.1K $30.00/SF
− Vacancy
−$122.6K −$5.10/SF
EGI
$598.5K $24.90/SF
− OpEx
−$149.6K −$6.23/SF
NOI
$448.9K $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%
$8,978,200
Cap Rate 7%
$6,413,000
Cap Rate 9%
$4,987,889
Alternative Uses
Best Use
Office B
$6.41M
$5.61M – $7.48M
NOI $448,910 @ 7.0% cap · market cap 6.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.74M
$6.78M – $9.03M
NOI $542,043 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
9,143
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 - Redevelopment opportunity in downtown Orlando with potential to reach up to 200 feet in height, per city.
Where is this office building located?
The property is located at 135 N Magnolia Ave Orlando, FL.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: Redevelopment opportunity in the heart of downtown Orlando; Potential to reach up to 200 ft in height, per city; Walking distance to Lake Eola, Regional History Center & Public Library
