Mixed-Use Building with
For Sale
$349,900
929 West Michigan Street, Orlando, FL 32805
Existing commercial space supports retail, office, or mixed-use redevelopment near Downtown Orlando.
Property Size829 SF
Price / SF$422.07
Days on Market478
Property Features for 929 West Michigan Street
General Information
Standard status
Active
Size
829 SF
Property subtype
Commercial Sale / Mixed Use
Zoning
NAC
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$2,444
Amenities
Central Air, Wall/Window Unit(s)
Central, Electric
Ceramic Tile
No
Drywall
Square Feet
Shingle
Other
Fire Alarm, Smoke Detector(s)
Slab
Block
Building Details
Year Built
1942
Listing Agency:
QUICKSILVER REAL ESTATE GROUP
(407) 704-2862
Listed By:
MARTHA ROMAN · License #3210118
(407) 704-2862
Source:
Compass
Added: May 10, 2025
Changed: Aug 30
Last Checked: Aug 30 at 5:57AM
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 QUICKSILVER REAL ESTATE GROUP
Investment Insights
Based on property information with market context.
This existing mixed-use commercial building contains 829 square feet and was constructed in 1942. The improvements include ceramic tile flooring, drywall, block construction, a slab foundation, and central air with wall/window unit(s). Electrical service is central and electric. Fire alarm and smoke detector(s) are also in place.
The property is located at 929 West Michigan Street in Orlando, near Downtown Orlando and the city center. Access to I-4 and Orange Blossom Trail is available within minutes. On-site parking and customer access support the existing commercial configuration, while the space is identified for retail, office, service business, or mixed-use redevelopment applications.
The property is located at 929 West Michigan Street in Orlando, near Downtown Orlando and the city center. Access to I-4 and Orange Blossom Trail is available within minutes. On-site parking and customer access support the existing commercial configuration, while the space is identified for retail, office, service business, or mixed-use redevelopment applications.
Key Highlights
- 829‑square‑foot existing commercial building
- Built in 1942 with block construction and slab foundation
- Central air with wall/window unit(s)
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
$16,279
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
4.65%
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%
$325,580
$325.6K
Cap Rate 7%
$232,557
$232.6K
Cap Rate 9%
$180,878
$180.9K
Market Conditions
NOI Build-Up for 829 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
$24.1K $29.04/SF
− Vacancy
−$819 −$0.99/SF
EGI
$23.3K $28.05/SF
− OpEx
−$7.0K −$8.42/SF
NOI
$16.3K $19.64/SF
Area
Orlando, FL
Vacancy
3.40%
Lease Rate
$29.04 /SF/Yr
Expense Ratio
30.00%
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%
$325,580
Cap Rate 7%
$232,557
Cap Rate 9%
$180,878
Alternative Uses
Best Use
Retail
$232.6K
$203.5K – $271.3K
NOI $16,279 @ 7.0% cap · market cap 4.65%
Second Best
Office B
$221.2K
$193.5K – $258.0K
NOI $15,482 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$267.0K
$233.7K – $311.6K
NOI $18,693 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
922
Businesses Nearby
Explore this area
Business Placement
Demographics for 32805, FL
23,331
Population
9,332
Households
2.5
Avg Household Size
39
Median Age
16%
College-Educated
78%
High-School Grad
6.8 sq mi
ZIP Area
3,431
Density / Sq Mi
$39,425
Median Household Income
$29,592
Median Earnings
$1,112
Median Rent
$226,100
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?
Mixed-use property - Existing commercial space supports retail, office, or mixed-use redevelopment near Downtown Orlando.
Where is this mixed-use property located?
The property is located at 929 West Michigan Street Orlando, FL.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 829‑square‑foot existing commercial building; Built in 1942 with block construction and slab foundation; Central air with wall/window unit(s)
