Office Building on State
For Sale
Contact for pricing
Pending
1655 E Hwy 50, Clermont, FL 34711
Office building built in 2008 with diverse tenant mix.
Property Size21,406 SF
Days on Market693
Property Features for 1655 E Hwy 50
General Information
Standard status
Pending
Size
21,406 SF
Property subtype
Office
Lease Type
NNN
Building Details
Year Built
2008
Tenancy
Multi
Listing Agency:
RESMA LLC
Listed By:
Alejandro Silbestein · License #BK 3376033
Source:
Crexi
Added: Oct 9, 2024
Changed: Aug 22
Last Checked: Aug 21 at 8:44PM
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 RESMA LLC
Investment Insights
Based on property information with market context.
This property is an office building constructed in 2008. It is located on State Highway 50, where it benefits from high traffic exposure of 52,000 vehicles daily. The building has a net rentable area of 18,924 square feet and a total property size of 21,406 square feet. The property is currently 100% occupied with a diverse tenant mix that includes medical professionals and a U.S. Government Veterans Center. The property also includes executive suites.
Key Highlights
- High traffic exposure: Located on State Highway 50 with 52,000 vehicles passing daily.
- 100% occupancy with a diverse tenant mix.
- Net rentable area of 18,924 sq. ft.
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
$319,806
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
4.67%
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%
$6,396,120
$6.4M
Cap Rate 7%
$4,568,657
$4.6M
Cap Rate 9%
$3,553,400
$3.6M
Market Conditions
NOI Build-Up for 21,406 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
$513.7K $24.00/SF
− Vacancy
−$87.3K −$4.08/SF
EGI
$426.4K $19.92/SF
− OpEx
−$106.6K −$4.98/SF
NOI
$319.8K $14.94/SF
Area
Lake 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%
$6,396,120
Cap Rate 7%
$4,568,657
Cap Rate 9%
$3,553,400
Alternative Uses
Best Use
Office B
$4.57M
$4.00M – $5.33M
NOI $319,806 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.09M
$5.33M – $7.11M
NOI $426,408 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,122
Businesses Nearby
Explore this area
Business Placement
Demographics for 34711, FL
67,980
Population
28,127
Households
2.4
Avg Household Size
45
Median Age
36%
College-Educated
95%
High-School Grad
39.2 sq mi
ZIP Area
1,734
Density / Sq Mi
$88,474
Median Household Income
$46,456
Median Earnings
$1,817
Median Rent
$369,900
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 built in 2008 with diverse tenant mix.
Where is this office building located?
The property is located at 1655 E Hwy 50 Clermont, FL.
What is the asking price?
The asking price for this property is $6,842,701.
What are key features of this property?
This property features: High traffic exposure: Located on State Highway 50 with 52,000 vehicles passing daily.; 100% occupancy with a diverse tenant mix.; Net rentable area of 18,924 sq. ft.
