Park Center Office
For Sale
Contact for pricing
1507 Park Center Drive Unit M, Orlando, FL 32835
Office condo with private entrance in central Orlando location.
Property Size784 SF
Price / SF$299.74
Days on Market170
Property Features for 1507 Park Center Drive Unit M
General Information
Standard status
Active
Size
784 SF
Class
B
Property subtype
Office
Zoning
PO
Investment Type
Owner/User
Building Details
Year Built
2006
Tenancy
Single
Listing Agency:
NAI Realvest - Orlando
(407) 718-1558
Listed By:
Jeffrey Bloom · License #FL 531788
Source:
Crexi
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 6:30AM
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 NAI Realvest - Orlando
Investment Insights
Based on property information with market context.
This 784± square foot office condo is located in Park Center. The single-story building provides easy access with a private, individual entrance and 24/7 access. The floor plan includes two private offices, an open work area, and a private restroom inside the unit. The property is located just off Hiawassee Road and Metrowest Boulevard, adjacent to Valencia College West Campus, and minutes from Kirkman Road. Its central location provides easy access to SR 50 (Colonial Drive), SR 408 (East-West), John Young Parkway, I-4, and Florida's Turnpike.
Key Highlights
- Central location with easy access to major roadways (SR 50, SR 408, John Young Pkwy, I‑4, Florida's Turnpike).
- Private, individual entrance with 24/7 access and no common area.
- Well‑laid‑out floor plan** with 2 private offices, open work area, and private restroom inside the unit.
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
$14,641
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
6.23%
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%
$292,820
$292.8K
Cap Rate 7%
$209,157
$209.2K
Cap Rate 9%
$162,678
$162.7K
Market Conditions
NOI Build-Up for 784 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
$23.5K $30.00/SF
− Vacancy
−$4.0K −$5.10/SF
EGI
$19.5K $24.90/SF
− OpEx
−$4.9K −$6.23/SF
NOI
$14.6K $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%
$292,820
Cap Rate 7%
$209,157
Cap Rate 9%
$162,678
Alternative Uses
Best Use
Office B
$209.2K
$183.0K – $244.0K
NOI $14,641 @ 7.0% cap · market cap 6.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$252.6K
$221.0K – $294.7K
NOI $17,679 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,462
Businesses Nearby
Explore this area
Business Placement
Demographics for 32835, FL
45,380
Population
19,377
Households
2.3
Avg Household Size
36
Median Age
41%
College-Educated
92%
High-School Grad
9.4 sq mi
ZIP Area
4,828
Density / Sq Mi
$70,183
Median Household Income
$38,953
Median Earnings
$1,764
Median Rent
$333,000
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 with private entrance in central Orlando location.
Where is this office units located?
The property is located at 1507 Park Center Drive Unit M Orlando, FL.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Central location with easy access to major roadways (SR 50, SR 408, John Young Pkwy, I‑4, Florida's Turnpike).; Private, individual entrance with 24/7 access and no common area.; Well‑laid‑out floor plan** with 2 private offices, open work area, and private restroom inside the unit.
