Class A Office Condo
For Sale
$599,000
Pending
1525 INTERNATIONAL 3021, Lake Mary, FL 32746
Office condo with private offices, flexible workspace, and 24-hour access in a Class A campus setting.
Property Size2,110 SF
Days on Market40
Property Features for 1525 INTERNATIONAL 3021
General Information
Standard status
Pending
Size
2,110 SF
Class
A
Property subtype
Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,614
Amenities
private offices
flexible workspace
onsite surface parking
24-hour access
Building Details
Building Size
2,110 SF
Year Built
2006
Stories
1
Units
1
Listing Agency:
REALTY HUB
(407) 435-9596
Listed By:
Abbas Sultanali · License #3482573
(407) 435-9596
Source:
Elliman
Added: Jul 21
Changed: Aug 23
Last Checked: Aug 28 at 1:55PM
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 REALTY HUB
Investment Insights
Based on property information with market context.
Suite 3021 at Park Place at Heathrow is a Class A office condo offering 2,110 SF with private offices and flexible workspace. The suite is described as featuring upscale finishes throughout and is available for sale as an office unit within a professionally managed environment.
The property is positioned in the Heathrow/Lake Mary corridor with immediate access to I-4 and 417. Tenants and owners are described as being within walking distance of a wide range of restaurants, hotels, and business amenities, supported by onsite surface parking and 24-hour access.
BikeScore is listed at 57 and walkScore at 26, indicating a car-dependent location with some bikeability. This suite is being marketed as coming soon to the market.
The property is positioned in the Heathrow/Lake Mary corridor with immediate access to I-4 and 417. Tenants and owners are described as being within walking distance of a wide range of restaurants, hotels, and business amenities, supported by onsite surface parking and 24-hour access.
BikeScore is listed at 57 and walkScore at 26, indicating a car-dependent location with some bikeability. This suite is being marketed as coming soon to the market.
Key Highlights
- 2,110 SF Suite 3021 office condo at Park Place at Heathrow in Lake Mary
- Features private offices plus flexible workspace for a range of professional users
- Upscale finishes throughout
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
$31,523
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
5.26%
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%
$630,460
$630.5K
Cap Rate 7%
$450,329
$450.3K
Cap Rate 9%
$350,256
$350.3K
Market Conditions
NOI Build-Up for 2,110 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
$50.6K $24.00/SF
− Vacancy
−$8.6K −$4.08/SF
EGI
$42.0K $19.92/SF
− OpEx
−$10.5K −$4.98/SF
NOI
$31.5K $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%
$630,460
Cap Rate 7%
$450,329
Cap Rate 9%
$350,256
Alternative Uses
Best Use
Office B
$450.3K
$394.0K – $525.4K
NOI $31,523 @ 7.0% cap · market cap 5.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$600.4K
$525.4K – $700.5K
NOI $42,031 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,900
Businesses Nearby
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Office condo with private offices, flexible workspace, and 24-hour access in a Class A campus setting.
Where is this office units located?
The property is located at 1525 INTERNATIONAL 3021 Lake Mary, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 2,110 SF Suite 3021 office condo at Park Place at Heathrow in Lake Mary; Features private offices plus flexible workspace for a range of professional users; Upscale finishes throughout
