40-Unit Apartment
For Sale
Contact for pricing
1625 MERCY DR, Orlando, FL 32808
Concrete-block, pitched-roof apartment building with 12 one-bedroom and 28 two-bedroom units, separately metered electric.
Property Size38,080 SF
Price / SF$141.81
Days on Market165
Property Features for 1625 MERCY DR
General Information
Standard status
Active
Size
38,080 SF
Property subtype
Multifamily
Occupancy
95%
Investment Type
Value Add
Net Operating Income
$442,163
Additional Details
Multifamily Units
40
Amenities
central air conditioning
tile flooring throughout
Building Details
Year Built
1966
Buildings
1
Stories
2
Units
40
Construction
concrete block
Tenancy
Multi
Listing Agency:
100UNits.com
Listed By:
Joe LaFleur · License #BK3206282
Source:
Crexi
Added: May 11
Changed: Oct 10
Last Checked: Oct 20 at 8:39PM
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 100UNits.com
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Investment Insights
Based on property information with market context.
Urban Square Apartments is a 40-unit multifamily complex comprised of one two-story apartment building with approximately 36,664 gross square feet. The property is constructed of concrete block with pitched shingle roofing. The unit mix includes 12 one-bedroom/one-bath units and 28 two-bedroom/one-bath units. Tenants pay electric through separately metered service. Units feature central air conditioning, spacious living areas, and tile flooring throughout. The roof was overlaid with new shingles in 2018, and in 2025 all new electric meters were installed. One unit (#8) is noted as renovated and is renting at a $300 premium over non-renovated units.
The offering includes an additional approximately 10.7 acres of excess land as part of the package. Based on preliminary assumptions provided in the marketing, the site could support approximately 20 additional units, subject to buyer verification. The property is described as having potential for mixed-use development, including a new building with ground-floor retail and multifamily above aligned with the City’s vision for the corridor; however, the buyer should verify feasibility and entitlements.
The property is located at 1625 Mercy Dr, Orlando, FL and is offered for sale.
The offering includes an additional approximately 10.7 acres of excess land as part of the package. Based on preliminary assumptions provided in the marketing, the site could support approximately 20 additional units, subject to buyer verification. The property is described as having potential for mixed-use development, including a new building with ground-floor retail and multifamily above aligned with the City’s vision for the corridor; however, the buyer should verify feasibility and entitlements.
The property is located at 1625 Mercy Dr, Orlando, FL and is offered for sale.
Key Highlights
- 40‑unit multifamily complex on one two‑story concrete‑block building totaling approx. 36,664 gross SF
- Unit mix: 12 one‑bedroom/one‑bath and 28 two‑bedroom/one‑bath units
- Separately metered electric with tenant‑paid electricity
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$493,483
Cap Rate
9.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,869,660
$9.9M
Cap Rate 7%
$7,049,757
$7.0M
Cap Rate 9%
$5,483,144
$5.5M
Market Conditions
NOI Build-Up for 38,080 SF
Gross rent
$959.6K $25.20/SF
− Vacancy
−$62.4K −$1.64/SF
EGI
$897.2K $23.56/SF
− OpEx
−$403.8K −$10.60/SF
NOI
$493.5K $12.96/SF
Area
Orlando, FL
Vacancy
6.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,869,660
Cap Rate 7%
$7,049,757
Cap Rate 9%
$5,483,144
Alternative Uses
Best Use
Apartment 5plus
$7.05M
$6.17M – $8.22M
NOI $493,483 @ 7.0% cap · market cap 9.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.27M
$10.73M – $14.31M
NOI $858,683 @ 7.0% cap · market cap 15.90%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
40
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
Explore this area
Business Placement
Demographics for 32808, FL
52,551
Population
21,291
Households
2.5
Avg Household Size
34
Median Age
12%
College-Educated
78%
High-School Grad
11.9 sq mi
ZIP Area
4,416
Density / Sq Mi
$47,575
Median Household Income
$31,180
Median Earnings
$1,375
Median Rent
$218,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Concrete-block, pitched-roof apartment building with 12 one-bedroom and 28 two-bedroom units, separately metered electric.
Where is this apartment building located?
The property is located at 1625 MERCY DR Orlando, FL.
What is the asking price?
The asking price for this property is $5,400,000.
What are key features of this property?
This property features: 40‑unit multifamily complex on one two‑story concrete‑block building totaling approx. 36,664 gross SF; Unit mix: 12 one‑bedroom/one‑bath and 28 two‑bedroom/one‑bath units; Separately metered electric with tenant‑paid electricity
