Renovated Freestanding Office
For Sale
Contact for pricing
2200 N Park Ave, Winter Park, FL 32789
Renovated freestanding office building with monument signage and ample parking, including five covered spaces.
Property Size10,000 SF
Price / SF$492.50
Days on Market702
Property Features for 2200 N Park Ave
General Information
Standard status
Active
Size
10,000 SF
Property subtype
OFFICE
Listing Agency:
City Commercial
(407) 644-2489
Listed By:
Lee Zerivitz
(407) 929-3598
Source:
Moodyscre
Added: Oct 16, 2024
Changed: Sep 12
Last Checked: Sep 16 at 5:29PM
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 City Commercial
Investment Insights
Based on property information with market context.
This renovated, freestanding office building offers a modern, contemporary work environment in a compact 10,000 SF footprint. The property includes monument signage and on-site parking designed to support day-to-day employee and visitor access, with ample parking exceeding 4 spaces per 1,000 SF plus a bonus of five covered parking spaces.
Located at 2200 N Park Ave in Winter Park, Florida, the building benefits from being positioned as the only 10,000 SF free-standing office option noted as available in WP. The configuration and parking amenities make it well suited for tenants seeking a standalone office presence with straightforward arrival and access.
For buyers evaluating a small-footprint office asset, this offering centers on a renovated building exterior and work-ready environment supported by practical parking capacity, including covered stalls.
Located at 2200 N Park Ave in Winter Park, Florida, the building benefits from being positioned as the only 10,000 SF free-standing office option noted as available in WP. The configuration and parking amenities make it well suited for tenants seeking a standalone office presence with straightforward arrival and access.
For buyers evaluating a small-footprint office asset, this offering centers on a renovated building exterior and work-ready environment supported by practical parking capacity, including covered stalls.
Key Highlights
- Renovated 10,000 SF freestanding office building in WP
- Modern and contemporary renovation
- Ample parking at over 4/1,000, plus 5 covered parking spaces
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
$149,400
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
3.03%
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%
$2,988,000
$3.0M
Cap Rate 7%
$2,134,286
$2.1M
Cap Rate 9%
$1,660,000
$1.7M
Market Conditions
NOI Build-Up for 10,000 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
$240.0K $24.00/SF
− Vacancy
−$40.8K −$4.08/SF
EGI
$199.2K $19.92/SF
− OpEx
−$49.8K −$4.98/SF
NOI
$149.4K $14.94/SF
Area
Orange County, FL
Vacancy
17.00%
Lease Rate
$24.00 /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%
$2,988,000
Cap Rate 7%
$2,134,286
Cap Rate 9%
$1,660,000
Alternative Uses
Best Use
Office B
$2.13M
$1.87M – $2.49M
NOI $149,400 @ 7.0% cap · market cap 3.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.85M
$2.49M – $3.32M
NOI $199,200 @ 7.0% cap · market cap 4.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,522
Businesses Nearby
Explore this area
Business Placement
Demographics for 32789, FL
26,399
Population
12,945
Households
2
Avg Household Size
44
Median Age
63%
College-Educated
98%
High-School Grad
7.8 sq mi
ZIP Area
3,384
Density / Sq Mi
$100,213
Median Household Income
$65,652
Median Earnings
$1,667
Median Rent
$695,000
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Renovated freestanding office building with monument signage and ample parking, including five covered spaces.
Where is this office building located?
The property is located at 2200 N Park Ave Winter Park, FL.
What is the asking price?
The asking price for this property is $4,925,000.
What are key features of this property?
This property features: Renovated 10,000 SF freestanding office building in WP; Modern and contemporary renovation; Ample parking at over 4/1,000, plus 5 covered parking spaces
