Corner Office
For Sale
$2,500,000
1477 W FAIRBANKS AVENUE, Winter Park, FL 32789
Office building located on the corner of Fairbanks Avenue and Lakeview Avenue in Winter Park.
Property Size6,471 SF
Price / SF$413.29
Days on Market60
Property Features for 1477 W FAIRBANKS AVENUE
General Information
Standard status
Active
Size
6,471 SF
Total Parking Spaces
18
Zoning
O-1
Taxes and HOA fees
Annual Taxes
$15,937
Amenities
Bathrooms, Dumpsters, Fencing, Kitchen Facility, Reception, Waiting Room
Sidewalks
Central Air, Zoned
Central, Electric
Dishwasher, Microwave, Refrigerator
Other
Building Details
Building Size
6,471 SF
Year Built
1948
Stories
2
Listing Agency:
RECIPROCAL OFFICE
Listed By:
Sharon Helsby · License #490967
(407) 620-3633
Source:
Evrealestate
Added: Jul 9
Changed: Aug 21
Last Checked: Sep 5 at 4:11AM
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 RECIPROCAL OFFICE
Investment Insights
Based on property information with market context.
This office building is offered for sale and sits at a street-corner location. The property is addressed at 1477 W Fairbanks Avenue, Winter Park, FL 32789.
Access is described from I-4 via the Fairbanks Avenue exit, traveling east. The building is located on the left before 17-92 and is positioned on the corner of Fairbanks Avenue and Lakeview Avenue.
The listing information also notes a total property size of 6,049 square feet.
Access is described from I-4 via the Fairbanks Avenue exit, traveling east. The building is located on the left before 17-92 and is positioned on the corner of Fairbanks Avenue and Lakeview Avenue.
The listing information also notes a total property size of 6,049 square feet.
Key Highlights
- Office building on the corner of Fairbanks Avenue and Lakeview Avenue in Winter Park
- Central air conditioning with zoned cooling
- Central electric heating
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
$90,372
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
3.61%
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%
$1,807,440
$1.8M
Cap Rate 7%
$1,291,029
$1.3M
Cap Rate 9%
$1,004,133
$1.0M
Market Conditions
NOI Build-Up for 6,049 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
$145.2K $24.00/SF
− Vacancy
−$24.7K −$4.08/SF
EGI
$120.5K $19.92/SF
− OpEx
−$30.1K −$4.98/SF
NOI
$90.4K $14.94/SF
Area
Orange County, FL
Vacancy
17.00%
Lease Rate
$24.00 /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%
$1,807,440
Cap Rate 7%
$1,291,029
Cap Rate 9%
$1,004,133
Alternative Uses
Best Use
Office B
$1.29M
$1.13M – $1.51M
NOI $90,372 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.72M
$1.51M – $2.01M
NOI $120,496 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,573
Businesses Nearby
Explore this area
Business Placement
Demographics for 32789, FL
26,399
Population
12,945
Households
2
Avg Household Size
44
Median Age
63%
College-Educated
98%
High-School Grad
7.8 sq mi
ZIP Area
3,384
Density / Sq Mi
$100,213
Median Household Income
$65,652
Median Earnings
$1,667
Median Rent
$695,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Office building located on the corner of Fairbanks Avenue and Lakeview Avenue in Winter Park.
Where is this office building located?
The property is located at 1477 W FAIRBANKS AVENUE Winter Park, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Office building on the corner of Fairbanks Avenue and Lakeview Avenue in Winter Park; Central air conditioning with zoned cooling; Central electric heating
