Downtown Orlando Office
For Sale
Contact for pricing
189 S Orange Ave unit 1520 Orlando, Orlando, FL 32801
Move-in ready office suite in prime downtown location.
Property Size6,784 SF
Price / SF$235.85
Days on Market229
Property Features for 189 S Orange Ave unit 1520 Orlando
General Information
Standard status
Active
Size
6,784 SF
Property subtype
Office
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$89,640
Building Details
Year Built
2007
Listing Agency:
Stirling International Real Estate
Listed By:
Roger Soderstrom Jr · License #FL
Source:
Crexi
Added: Jan 23
Changed: Sep 8
Last Checked: Sep 9 at 6:03AM
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 Stirling International Real Estate
Investment Insights
Based on property information with market context.
Located in Downtown Orlando at The Plaza, 189 S Orange Ave, Unit 1550, this commercial office space offers 947 square feet of refined workspace. Positioned on the 15th floor, the suite features abundant natural light through floor-to-ceiling windows and a versatile layout. The configuration includes a welcoming reception area, private office space, and a dedicated meeting or conference area. The open-plan central area fosters communication while still allowing for defined work zones. Tenants at The Plaza enjoy access to a modern lobby with 24/7 concierge service, state-of-the-art shared conference rooms, well-appointed break rooms, and kitchen facilities. An on-site fitness center, retail shops, and dining options are all within the complex. The building is ADA compliant with high-speed elevators, secure access, and professional security services. Ample parking is available in the attached garage, with convenient access to major highways and public transportation. This move-in ready environment is ideal for small businesses, boutique firms, or individual practitioners seeking a Prime Downtown address.
Key Highlights
- Prime Downtown Orlando location at The Plaza (189 S Orange Ave) offering a prestigious business address
- Move‑in ready, 947 SF office suite with a versatile layout including a reception area, private office space, and a meeting/conference area
- Abundant natural light from floor‑to‑ceiling windows on the 15th floor**
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
$126,691
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
7.92%
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%
$2,533,820
$2.5M
Cap Rate 7%
$1,809,871
$1.8M
Cap Rate 9%
$1,407,678
$1.4M
Market Conditions
NOI Build-Up for 6,784 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
$203.5K $30.00/SF
− Vacancy
−$34.6K −$5.10/SF
EGI
$168.9K $24.90/SF
− OpEx
−$42.2K −$6.23/SF
NOI
$126.7K $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%
$2,533,820
Cap Rate 7%
$1,809,871
Cap Rate 9%
$1,407,678
Alternative Uses
Best Use
Office B
$1.81M
$1.58M – $2.11M
NOI $126,691 @ 7.0% cap · market cap 7.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.19M
$1.91M – $2.55M
NOI $152,975 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,580
Businesses Nearby
Explore this area
Business Placement
Demographics for 32801, FL
17,728
Population
12,133
Households
1.5
Avg Household Size
36
Median Age
63%
College-Educated
95%
High-School Grad
2.2 sq mi
ZIP Area
8,058
Density / Sq Mi
$77,626
Median Household Income
$63,090
Median Earnings
$1,773
Median Rent
$397,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Orlando, FL
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Frequently Asked Questions
What type of property is this?
Office units - Move-in ready office suite in prime downtown location.
Where is this office units located?
The property is located at 189 S Orange Ave unit 1520 Orlando Orlando, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Prime Downtown Orlando location at The Plaza (189 S Orange Ave) offering a prestigious business address; Move‑in ready, 947 SF office suite with a versatile layout including a reception area, private office space, and a meeting/conference area; Abundant natural light from floor‑to‑ceiling windows on the 15th floor**
