Versatile Commercial Property on Lake
For Sale
$1,590,000
Pending
141 PARLIAMENT Loop 1001, Lake Mary, FL 32746
High-traffic location ideal for retail, office, or showroom.
Property Size4,900 SF
Lot Size0.13 Acres
Days on Market155
Property Features for 141 PARLIAMENT Loop 1001
General Information
Standard status
Pending
Size
4,900 SF
Lot size
0.13 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,831
Building Details
Building Size
4,900 SF
Year Built
2006
Stories
1
Listing Agency:
Loveland Properties
(407) 352-8118
Listed By:
Cleve Loveland · License #602469
(407) 352-8118
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 2:24PM
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 Loveland Properties
Investment Insights
Based on property information with market context.
This commercial property is located in a high-traffic area along Lake Mary Blvd and is suitable for retail, office, showroom, or a variety of other business uses. The property features a cavernous space that can be redesigned, a reception area, a conference room, office/admin space, a kitchen/break room, and two restrooms in each individual suite. Ample parking is available. The unit can be divided; the southern portion of the building (Suite A) is approximately 1700 square feet, and Suite B is approximately 3200 square feet. The owner prefers a lease back for approximately one year if the entire building is purchased and is open to negotiation.
Key Highlights
- High‑traffic location on Lake Mary Blvd.
- Versatile commercial space suitable for retail, office, or showroom.
- Divisible unit (Suite A: ~1700 sq ft, Suite B: ~3200 sq ft).
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
$62,838
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
3.95%
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%
$1,256,760
$1.3M
Cap Rate 7%
$897,686
$897.7K
Cap Rate 9%
$698,200
$698.2K
Market Conditions
NOI Build-Up for 3,200 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
$92.9K $29.04/SF
− Vacancy
−$3.2K −$0.99/SF
EGI
$89.8K $28.05/SF
− OpEx
−$26.9K −$8.42/SF
NOI
$62.8K $19.64/SF
Area
Seminole County, 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%
$1,256,760
Cap Rate 7%
$897,686
Cap Rate 9%
$698,200
Alternative Uses
Best Use
Retail
$897.7K
$785.5K – $1.05M
NOI $62,838 @ 7.0% cap · market cap 3.95%
Second Best
Office B
$683.0K
$597.6K – $796.8K
NOI $47,808 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$910.6K
$796.8K – $1.06M
NOI $63,744 @ 7.0% cap · market cap 4.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,237
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32746, FL
45,828
Population
20,204
Households
2.3
Avg Household Size
42
Median Age
53%
College-Educated
97%
High-School Grad
21.1 sq mi
ZIP Area
2,172
Density / Sq Mi
$111,534
Median Household Income
$55,860
Median Earnings
$1,912
Median Rent
$420,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Showroom - High-traffic location ideal for retail, office, or showroom.
Where is this showroom located?
The property is located at 141 PARLIAMENT Loop 1001 Lake Mary, FL.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: High‑traffic location on Lake Mary Blvd.; Versatile commercial space suitable for retail, office, or showroom.; Divisible unit (Suite A: ~1700 sq ft, Suite B: ~3200 sq ft).
