21st-Floor Penthouse Resort End
For Sale
$399,000
13427 BLUE HERON BEACH Dr 2107, Orlando, FL 32821
21st-floor end unit with two balconies, full kitchen, and resort amenities including heated pools and hot tubs.
Property Size1,078 SF
Days on Market55
Property Features for 13427 BLUE HERON BEACH Dr 2107
General Information
Standard status
Active
Size
1,078 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,583
Amenities
heated pools
hot tubs
video game room
exercise room
Building Details
Building Size
1,078 SF
Year Built
2007
Stories
21
Listed By:
Shelly Garrison
(407) 234-4488
Source:
Elliman
Added: Jul 29
Changed: Sep 18
Last Checked: Sep 21 at 5:33AM
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 Shelly Garrison
Investment Insights
Based on property information with market context.
Enjoy this 21st-floor penthouse end unit at Orlando’s Blue Heron Beach Resort, located next to Lake Bryan. The residence features two balconies, with one facing Lake Bryan and one facing the area attractions, plus views of Orlando’s skyline and night-time fireworks. The floor plan can accommodate up to 8 sleeping, and the unit is fully furnished.
Inside, there is a full kitchen with granite countertops and full-size appliances, along with small kitchen appliances, dishes, and utensils. The unit includes a full washer and dryer. Access is supported by elevators with keyed access, and there is covered parking with security.
Resort amenities include heated pools, hot tubs, a video game room, and an exercise room. The condo fee includes water, trash, home phone, cable, and WIFI. BikeScore is 51 and WalkScore is 36, with the property described as car-dependent. Year built: 2007.
Inside, there is a full kitchen with granite countertops and full-size appliances, along with small kitchen appliances, dishes, and utensils. The unit includes a full washer and dryer. Access is supported by elevators with keyed access, and there is covered parking with security.
Resort amenities include heated pools, hot tubs, a video game room, and an exercise room. The condo fee includes water, trash, home phone, cable, and WIFI. BikeScore is 51 and WalkScore is 36, with the property described as car-dependent. Year built: 2007.
Key Highlights
- 21st‑floor penthouse end unit next to Lake Bryan with two balconies, one facing Lake Bryan and one facing attractions
- Floor plan accommodates up to 8 sleeping; fully furnished and includes a granite‑counter full kitchen
- Full washer and dryer plus full‑size appliances, small kitchen appliances, dishes, and utensils
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
$13,970
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
3.50%
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%
$279,400
$279.4K
Cap Rate 7%
$199,571
$199.6K
Cap Rate 9%
$155,222
$155.2K
Market Conditions
NOI Build-Up for 1,078 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
$27.2K $25.20/SF
− Vacancy
−$1.8K −$1.64/SF
EGI
$25.4K $23.56/SF
− OpEx
−$11.4K −$10.60/SF
NOI
$14.0K $12.96/SF
Area
Orlando, FL
Vacancy
6.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$279,400
Cap Rate 7%
$199,571
Cap Rate 9%
$155,222
Alternative Uses
Best Use
Apartment 5plus
$199.6K
$174.6K – $232.8K
NOI $13,970 @ 7.0% cap · market cap 3.50%
Second Best
Hotel Hospitality
$72.4K
$63.4K – $84.5K
NOI $5,069 @ 7.0% cap · market cap 1.27%
Theoretical Best
Office A
$347.3K
$303.9K – $405.1K
NOI $24,308 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
293
Businesses Nearby
Explore this area
Business Placement
Demographics for 32821, FL
25,999
Population
15,061
Households
1.7
Avg Household Size
33
Median Age
44%
College-Educated
95%
High-School Grad
16.3 sq mi
ZIP Area
1,595
Density / Sq Mi
$59,927
Median Household Income
$39,230
Median Earnings
$1,782
Median Rent
$300,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Resort - 21st-floor end unit with two balconies, full kitchen, and resort amenities including heated pools and hot tubs.
Where is this resort located?
The property is located at 13427 BLUE HERON BEACH Dr 2107 Orlando, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 21st‑floor penthouse end unit next to Lake Bryan with two balconies, one facing Lake Bryan and one facing attractions; Floor plan accommodates up to 8 sleeping; fully furnished and includes a granite‑counter full kitchen; Full washer and dryer plus full‑size appliances, small kitchen appliances, dishes, and utensils
