Office Condo with Private
For Sale
$650,000
1450-189 S Orange Ave, Orlando, FL 32801
Office condo in a Class A downtown tower with 24/7 secured access, concierge services, and a private-office and open-workspace layout.
Property Size3,128 SF
Price / SF$207.80
Days on Market128
Property Features for 1450-189 S Orange Ave
General Information
Standard status
Active
Size
3,128 SF
Class
Class A
Taxes and HOA fees
Annual Taxes
$11,401
Amenities
24/7 secured access
concierge services
attached garage parking
Building Details
Buildings
1
Listing Agency:
ALPHA EQUITY REALTY & MANAGEMENT INC
(407) 789-1002
Listed By:
Abbas Sultanali · License #3371569
(407) 435-9596
Source:
Exprealty
Added: Apr 28
Changed: Aug 20
Last Checked: Sep 1 at 10:54PM
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 ALPHA EQUITY REALTY & MANAGEMENT INC
Investment Insights
Based on property information with market context.
Office condo unit 1450 in the Plaza South Tower downtown. The suite is approximately 3, 128 SF and is laid out to support both private offices and open workspace, with large windows for natural light.
The interior configuration includes multiple private offices sized approximately 83 SF to 373 SF, along with breakout lounges and flex rooms sized approximately 130-327 SF. The unit also features a dedicated IT/storage room and private restrooms, plus an integrated kitchen/break area with cabinetry and plumbing infrastructure.
The building offers 24/7 secured access and concierge services, with attached garage parking for added convenience. The property is positioned for daily access to nearby dining, retail, and major thoroughfares throughout Downtown Orlando.
The interior configuration includes multiple private offices sized approximately 83 SF to 373 SF, along with breakout lounges and flex rooms sized approximately 130-327 SF. The unit also features a dedicated IT/storage room and private restrooms, plus an integrated kitchen/break area with cabinetry and plumbing infrastructure.
The building offers 24/7 secured access and concierge services, with attached garage parking for added convenience. The property is positioned for daily access to nearby dining, retail, and major thoroughfares throughout Downtown Orlando.
Key Highlights
- Approximately 3, 128 SF office condo unit 1450
- Layout supports private offices and open workspace
- Multiple private offices sized approximately 83 SF to 373 SF
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
$58,415
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
8.99%
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%
$1,168,300
$1.2M
Cap Rate 7%
$834,500
$834.5K
Cap Rate 9%
$649,056
$649.1K
Market Conditions
NOI Build-Up for 3,128 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
$93.8K $30.00/SF
− Vacancy
−$16.0K −$5.10/SF
EGI
$77.9K $24.90/SF
− OpEx
−$19.5K −$6.23/SF
NOI
$58.4K $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%
$1,168,300
Cap Rate 7%
$834,500
Cap Rate 9%
$649,056
Alternative Uses
Best Use
Office B
$834.5K
$730.2K – $973.6K
NOI $58,415 @ 7.0% cap · market cap 8.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$881.7K – $1.18M
NOI $70,535 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,026
Businesses Nearby
Explore this area
Business Placement
Demographics for 32801, FL
17,728
Population
12,133
Households
1.5
Avg Household Size
36
Median Age
63%
College-Educated
95%
High-School Grad
2.2 sq mi
ZIP Area
8,058
Density / Sq Mi
$77,626
Median Household Income
$63,090
Median Earnings
$1,773
Median Rent
$397,600
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?
Office units - Office condo in a Class A downtown tower with 24/7 secured access, concierge services, and a private-office and open-workspace layout.
Where is this office units located?
The property is located at 1450-189 S Orange Ave Orlando, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Approximately 3, 128 SF office condo unit 1450; Layout supports private offices and open workspace; Multiple private offices sized approximately 83 SF to 373 SF
