Office and Event Venue
For Sale
$990,000
150 11th Street, Chuluota, FL 32766
Four-lot commercial property with direct frontage on SR 419 and West 11th Street, including office space and an events venue.
Property Size2,523 SF
Price / SF$392.39
Days on Market126
Property Features for 150 11th Street
General Information
Standard status
Active
Size
2,523 SF
Property subtype
Mixed Use
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,111
Amenities
Central Air
3
Building Details
Year Built
1971
Listing Agency:
GLOBAL PROPERTIES SALES & MGMT
(407) 675-6999
Listed By:
Joe Cremonese · License #3329031
(407) 432-2952
Source:
Xome
Added: May 1
Changed: Sep 3
Last Checked: Sep 2 at 3:20PM
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 GLOBAL PROPERTIES SALES & MGMT
Investment Insights
Based on property information with market context.
This four-lot commercial property is just shy of a full acre and includes multiple on-site improvements for flexible use. The building with frontage on SR 419 is currently used as commercial office space. In the back, a two-story gambrel structure is currently used as an events venue, described as a “Party Barn.”
The property has direct frontage on SR 419 (Chuluota Road) and West 11th Street, supporting visibility and straightforward access from both directions.
The back lots are described as potentially suitable for residential use, subject to county approval. Buyer should verify all uses and approvals with the county prior to closing.
The property has direct frontage on SR 419 (Chuluota Road) and West 11th Street, supporting visibility and straightforward access from both directions.
The back lots are described as potentially suitable for residential use, subject to county approval. Buyer should verify all uses and approvals with the county prior to closing.
Key Highlights
- Four‑lot commercial property with direct frontage on SR 419 (Chuluota Road) and West 11th Street
- Building currently used as commercial office space
- Back two‑story gambrel structure currently used as an events venue (“Party Barn”)
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
$37,694
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
3.81%
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%
$753,880
$753.9K
Cap Rate 7%
$538,486
$538.5K
Cap Rate 9%
$418,822
$418.8K
Market Conditions
NOI Build-Up for 2,523 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
$60.6K $24.00/SF
− Vacancy
−$10.3K −$4.08/SF
EGI
$50.3K $19.92/SF
− OpEx
−$12.6K −$4.98/SF
NOI
$37.7K $14.94/SF
Area
Seminole 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%
$753,880
Cap Rate 7%
$538,486
Cap Rate 9%
$418,822
Alternative Uses
Best Use
Office B
$538.5K
$471.2K – $628.2K
NOI $37,694 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$718.0K
$628.2K – $837.6K
NOI $50,258 @ 7.0% cap · market cap 5.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
111
Businesses Nearby
Explore this area
Business Placement
Demographics for 32766, FL
16,541
Population
5,023
Households
3.3
Avg Household Size
40
Median Age
53%
College-Educated
95%
High-School Grad
43.8 sq mi
ZIP Area
378
Density / Sq Mi
$146,215
Median Household Income
$61,190
Median Earnings
$2,150
Median Rent
$529,600
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?
Wedding venue - Four-lot commercial property with direct frontage on SR 419 and West 11th Street, including office space and an events venue.
Where is this wedding venue located?
The property is located at 150 11th Street Chuluota, FL.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Four‑lot commercial property with direct frontage on SR 419 (Chuluota Road) and West 11th Street; Building currently used as commercial office space; Back two‑story gambrel structure currently used as an events venue (“Party Barn”)
