Move-in Ready Medical Office
For Sale
Contact for pricing
138 E Gore St, Orlando, FL 32806
Vacant, updated medical/professional office near Orlando Health's main campus.
Property Size2,014 SF
Price / SF$332.17
Days on Market182
Property Features for 138 E Gore St
General Information
Standard status
Active
Size
2,014 SF
Class
A
Property subtype
Office
Zoning
ORL-O-1/T/AR/AN
Investment Type
Owner/User
Building Details
Stories
2
Listing Agency:
Lee & Associates - Orlando
(904) 505-5282
Listed By:
Jordan Cacho · License #SL3392932
Source:
Crexi
Added: Feb 25
Changed: Aug 13
Last Checked: Aug 24 at 8:04AM
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 Lee & Associates - Orlando
Investment Insights
Based on property information with market context.
The property at 138 E Gore Street is a vacant, move-in-ready medical or professional office building. It is located directly across from Orlando Health’s main campus in the SoDo (South Downtown) district of Orlando. The two-story building has a size of approximately 2,014 square feet. It features separate entrances, ADA-compliant access, and on-site parking. Recent interior improvements include new flooring, upgraded cabinetry, and fresh paint. The property's location near Orlando Health’s 800-bed flagship hospital and surrounding specialty facilities supports demand for medical and professional office users. Situated just south of Downtown Orlando with direct access to Interstate 4 and State Road 408, the property benefits from regional connectivity. This property is suited for medical practices, professional office service users, or private investors.
Key Highlights
- Directly across from Orlando Health's main campus.
- Move‑in ready condition with recent interior improvements including new flooring, upgraded cabinetry, and fresh paint.
- Two‑story ±2,014 SF building with separate entrances and ADA‑compliant access.
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
$37,611
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
5.62%
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%
$752,220
$752.2K
Cap Rate 7%
$537,300
$537.3K
Cap Rate 9%
$417,900
$417.9K
Market Conditions
NOI Build-Up for 2,014 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
$60.4K $30.00/SF
− Vacancy
−$10.3K −$5.10/SF
EGI
$50.1K $24.90/SF
− OpEx
−$12.5K −$6.23/SF
NOI
$37.6K $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%
$752,220
Cap Rate 7%
$537,300
Cap Rate 9%
$417,900
Alternative Uses
Best Use
Office B
$537.3K
$470.1K – $626.9K
NOI $37,611 @ 7.0% cap · market cap 5.62%
Second Best
Healthcare Medical
$410.2K
$358.9K – $478.5K
NOI $28,712 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$648.8K
$567.7K – $756.9K
NOI $45,415 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,726
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32806, FL
26,582
Population
12,529
Households
2.1
Avg Household Size
40
Median Age
55%
College-Educated
95%
High-School Grad
6.8 sq mi
ZIP Area
3,909
Density / Sq Mi
$86,653
Median Household Income
$54,012
Median Earnings
$1,500
Median Rent
$415,800
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?
Medical Office Space - Vacant, updated medical/professional office near Orlando Health's main campus.
Where is this medical office space located?
The property is located at 138 E Gore St Orlando, FL.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: Directly across from Orlando Health's main campus.; Move‑in ready condition with recent interior improvements including new flooring, upgraded cabinetry, and fresh paint.; Two‑story ±2,014 SF building with separate entrances and ADA‑compliant access.
