Former Convenience Store Gas Station
For Sale
Contact for pricing
18539 E Colonial Dr, Orlando, FL 32820
Former convenience store site with a large paved pump-area and frontage on Colonial Drive.
Property Size2,640 SF
Lot Size0.66 Acres
Price / SF$189.39
Days on Market210
Property Features for 18539 E Colonial Dr
General Information
Standard status
Active
Size
2,640 SF
Lot size
0.66 Acres
Property subtype
Industrial, Mixed Use, Retail
Site & Location
Traffic Count
29,642 vehicles/day
Road Access
Yes
Listing Agency:
Cushman & Wakefield - Orlando, Florida
Listed By:
Easton Ricks · License #SL3637989
Source:
Crexi
Added: Feb 9
Changed: Aug 14
Last Checked: Sep 6 at 8:51PM
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 Cushman & Wakefield - Orlando, Florida
Investment Insights
Based on property information with market context.
This property is the former convenience store and gas station site, with a large paved area where pumps were previously situated. The available parcel includes frontage on Colonial Drive and the open paved footprint that previously supported refueling operations.
The site faces Colonial Drive, a major thoroughfare within the Orlando metropolitan area, with stated frontage traffic of 29,642 cars daily. Full access is provided at a signalized intersection.
The listing includes a 0.66-acre lot and is offered for sale.
The site faces Colonial Drive, a major thoroughfare within the Orlando metropolitan area, with stated frontage traffic of 29,642 cars daily. Full access is provided at a signalized intersection.
The listing includes a 0.66-acre lot and is offered for sale.
Key Highlights
- 0.66‑acre former convenience store site facing Colonial Drive
- Large paved area where pumps used to be located
- Frontage on Colonial Drive with 29,642 cars daily
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
$14,748
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
2.95%
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%
$294,960
$295.0K
Cap Rate 7%
$210,686
$210.7K
Cap Rate 9%
$163,867
$163.9K
Market Conditions
NOI Build-Up for 2,640 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
$23.1K $8.76/SF
− Vacancy
−$2.1K −$0.78/SF
EGI
$21.1K $7.98/SF
− OpEx
−$6.3K −$2.39/SF
NOI
$14.7K $5.59/SF
Area
Orlando, FL
Vacancy
8.90%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
30.00%
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%
$294,960
Cap Rate 7%
$210,686
Cap Rate 9%
$163,867
Alternative Uses
Best Use
Specialty Retail
$793.5K
$694.3K – $925.7K
NOI $55,544 @ 7.0% cap · market cap 11.11%
Second Best
Retail
$740.6K
$648.0K – $864.0K
NOI $51,841 @ 7.0% cap · market cap 10.37%
Theoretical Best
Office A
$850.4K
$744.1K – $992.2K
NOI $59,531 @ 7.0% cap · market cap 11.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
29,642 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
274
Businesses Nearby
8k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Circle K
Shops & Services
7,766 visits/mo
0.2 miles
Demographics for 32820, FL
10,150
Population
3,617
Households
2.8
Avg Household Size
39
Median Age
47%
College-Educated
92%
High-School Grad
15.1 sq mi
ZIP Area
672
Density / Sq Mi
$103,675
Median Household Income
$40,472
Median Earnings
$2,053
Median Rent
$386,300
Median Home Value
Market
Vacancy Rate% for Retail in Orlando, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - Former convenience store site with a large paved pump-area and frontage on Colonial Drive.
Where is this gas station located?
The property is located at 18539 E Colonial Dr Orlando, FL.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 0.66‑acre former convenience store site facing Colonial Drive; Large paved area where pumps used to be located; Frontage on Colonial Drive with 29,642 cars daily
