Mixed-Use Property with Detached
For Sale
$765,000
1922 Hillcrest St, Orlando, FL 32803
Office space and a renovated residential unit create flexible business and income-producing use potential.
Property Size1,016 SF
Price / SF$460.29
Days on Market83
Property Features for 1922 Hillcrest St
General Information
Standard status
Active
Size
1,016 SF
Total Parking Spaces
6
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Additional Details
Sprinkler System
Yes
Building Details
Year Built
1940
Buildings
2
Building Size
1,016 SF
Listing Agency:
LPT REALTY, LLC
Listed By:
Andres Ospina Rivera · License #3293879
(321) 821-8446
Source:
Figteam
Added: Jul 25
Changed: Oct 2
Last Checked: Oct 5 at 9:01PM
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 LPT REALTY, LLC
Investment Insights
Based on property information with market context.
This mixed-use property combines a professional office building with a separate residential unit on an oversized corner lot. The primary structure contains approximately 1,016 square feet of heated and cooled space, including two private offices and an open work area. A detached 546-square-foot rear unit includes an enclosed 100-square-foot porch and has been renovated into a two-bedroom, one-bathroom residence. Two storage bays beneath the rear unit are planned for apartment conversion, with permitting underway and plans available.
The property includes six parking spaces, an improved parking area, and separate electric metering for the buildings. The main roof was installed in 2012, the rear-unit roof in 2020, and HVAC systems were installed in 2022 and 2023. Mature oak trees, landscaping, St. Augustine grass, and a full sprinkler system complete the exterior. Located one block from Colonial Drive, the property provides access to downtown Orlando, the courthouse, shops, restaurants, and public transportation.
The property includes six parking spaces, an improved parking area, and separate electric metering for the buildings. The main roof was installed in 2012, the rear-unit roof in 2020, and HVAC systems were installed in 2022 and 2023. Mature oak trees, landscaping, St. Augustine grass, and a full sprinkler system complete the exterior. Located one block from Colonial Drive, the property provides access to downtown Orlando, the courthouse, shops, restaurants, and public transportation.
Key Highlights
- Approximately 1,016 sq ft of office space with 2 private offices and an open area
- Detached 546 sq ft residential unit with an enclosed 100 sq ft porch
- Renovated 2‑bedroom, 1‑bathroom rear residential unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,038
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$620,760
$620.8K
Cap Rate 7%
$443,400
$443.4K
Cap Rate 9%
$344,867
$344.9K
Market Conditions
NOI Build-Up for 1,662 SF
Gross rent
$49.9K $30.00/SF
− Vacancy
−$8.5K −$5.10/SF
EGI
$41.4K $24.90/SF
− OpEx
−$10.3K −$6.23/SF
NOI
$31.0K $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 Rate 5%
$620,760
Cap Rate 7%
$443,400
Cap Rate 9%
$344,867
Alternative Uses
Best Use
Office B
$443.4K
$388.0K – $517.3K
NOI $31,038 @ 7.0% cap · market cap 4.06%
Second Best
Mixed Use
$313.4K
$274.2K – $365.6K
NOI $21,938 @ 7.0% cap · market cap 2.87%
Theoretical Best
Office A
$535.4K
$468.5K – $624.6K
NOI $37,477 @ 7.0% cap · market cap 4.90%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Sprinkler system
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,853
Businesses Nearby
Explore this area
Business Placement
Demographics for 32803, FL
21,003
Population
12,225
Households
1.7
Avg Household Size
38
Median Age
59%
College-Educated
96%
High-School Grad
6.8 sq mi
ZIP Area
3,089
Density / Sq Mi
$101,401
Median Household Income
$61,439
Median Earnings
$1,823
Median Rent
$421,300
Median Home Value
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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?
Mixed-use property - Office space and a renovated residential unit create flexible business and income-producing use potential.
Where is this mixed-use property located?
The property is located at 1922 Hillcrest St Orlando, FL.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: Approximately 1,016 sq ft of office space with 2 private offices and an open area; Detached 546 sq ft residential unit with an enclosed 100 sq ft porch; Renovated 2‑bedroom, 1‑bathroom rear residential unit
